FCG Investment Co Sells 161 Shares of Meta Platforms, Inc. (NASDAQ:META)

FCG Investment Co decreased its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.5% during the first quarter, HoldingsChannel.com reports. The fund owned 6,210 shares of the social networking company’s stock after selling 161 shares during the period. Meta Platforms makes up 2.4% of FCG Investment Co’s holdings, making the stock its 10th largest position. FCG Investment Co’s holdings in Meta Platforms were worth $3,015,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Quest Partners LLC bought a new stake in Meta Platforms during the 4th quarter valued at approximately $32,000. Clear Investment Research LLC boosted its stake in Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 74 shares during the period. Cranbrook Wealth Management LLC boosted its stake in Meta Platforms by 80.4% during the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after purchasing an additional 45 shares during the period. Gilfoyle & Co LLC bought a new stake in Meta Platforms during the 4th quarter valued at approximately $39,000. Finally, Kathleen S. Wright Associates Inc. bought a new stake in Meta Platforms during the 1st quarter valued at approximately $44,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Up 5.9 %

NASDAQ META opened at $539.91 on Friday. The stock has a fifty day moving average of $484.36 and a 200-day moving average of $460.13. The stock has a market capitalization of $1.37 trillion, a P/E ratio of 31.01, a price-to-earnings-growth ratio of 1.32 and a beta of 1.21. Meta Platforms, Inc. has a 52 week low of $274.38 and a 52 week high of $540.87. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.32 by $0.39. The company had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. On average, equities research analysts forecast that Meta Platforms, Inc. will post 20.15 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were given a $0.50 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.37%. Meta Platforms’s dividend payout ratio is currently 11.49%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Piper Sandler restated an “overweight” rating and set a $545.00 target price (down previously from $600.00) on shares of Meta Platforms in a research note on Thursday, April 25th. The Goldman Sachs Group reduced their price objective on Meta Platforms from $555.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. TD Cowen reduced their price objective on Meta Platforms from $590.00 to $530.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Benchmark reiterated a “hold” rating on shares of Meta Platforms in a research report on Monday, April 22nd. Finally, Wells Fargo & Company reduced their price objective on Meta Platforms from $609.00 to $600.00 and set an “overweight” rating for the company in a research report on Wednesday, April 3rd. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus price target of $511.27.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $509.10, for a total value of $8,502,988.20. Following the transaction, the chief executive officer now directly owns 186,826 shares in the company, valued at approximately $95,113,116.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CTO Andrew Bosworth sold 5,058 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total value of $2,386,617.30. Following the transaction, the chief technology officer now directly owns 15,412 shares in the company, valued at approximately $7,272,152.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $509.10, for a total value of $8,502,988.20. Following the completion of the transaction, the chief executive officer now owns 186,826 shares in the company, valued at $95,113,116.60. The disclosure for this sale can be found here. Insiders have sold 251,905 shares of company stock worth $123,528,726 in the last three months. Insiders own 13.71% of the company’s stock.

Meta Platforms Profile

Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.