PFC Capital Group Inc. Acquires 25 Shares of Meta Platforms, Inc. (NASDAQ:META)

PFC Capital Group Inc. grew its stake in Meta Platforms, Inc. (NASDAQ:META) by 0.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,110 shares of the social networking company’s stock after purchasing an additional 25 shares during the period. Meta Platforms comprises about 1.4% of PFC Capital Group Inc.’s investment portfolio, making the stock its 17th biggest position. PFC Capital Group Inc.’s holdings in Meta Platforms were worth $2,991,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in Meta Platforms during the fourth quarter valued at about $19,949,512,000. Proficio Capital Partners LLC grew its holdings in shares of Meta Platforms by 78,471.1% during the 4th quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company’s stock worth $3,658,713,000 after purchasing an additional 6,240,810 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $2,243,603,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Meta Platforms by 27.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 8,901,521 shares of the social networking company’s stock valued at $5,211,967,000 after purchasing an additional 1,892,509 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Meta Platforms by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company’s stock worth $111,948,344,000 after purchasing an additional 1,502,553 shares during the period. Institutional investors own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on META shares. Argus set a $775.00 price objective on shares of Meta Platforms in a research note on Tuesday, February 4th. DA Davidson increased their price target on shares of Meta Platforms from $700.00 to $800.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Wolfe Research lifted their price objective on Meta Platforms from $670.00 to $730.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Barclays upped their price objective on Meta Platforms from $630.00 to $705.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Finally, Rosenblatt Securities restated a “buy” rating and set a $811.00 target price on shares of Meta Platforms in a research report on Monday, January 27th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and a consensus price target of $718.55.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $576.36 on Tuesday. The stock has a market cap of $1.46 trillion, a price-to-earnings ratio of 24.10, a P/E/G ratio of 1.42 and a beta of 1.23. Meta Platforms, Inc. has a twelve month low of $414.50 and a twelve month high of $740.91. The company’s fifty day moving average is $654.50 and its 200 day moving average is $610.25. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same period in the prior year, the company posted $5.33 EPS. Sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were given a $0.525 dividend. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a dividend yield of 0.36%. Meta Platforms’s dividend payout ratio (DPR) is 8.78%.

Insider Activity

In other Meta Platforms news, CEO Mark Zuckerberg sold 35,921 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $603.98, for a total value of $21,695,565.58. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Susan J. Li sold 8,553 shares of the firm’s stock in a transaction that occurred on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total transaction of $6,300,738.51. Following the sale, the chief financial officer now directly owns 51,793 shares of the company’s stock, valued at approximately $38,154,349.31. This trade represents a 14.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 583,505 shares of company stock valued at $385,495,911 in the last ninety days. 13.71% of the stock is owned by company insiders.

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.