RFG Holdings Inc. Buys Shares of 1,054 Meta Platforms, Inc. (NASDAQ:META)

RFG Holdings Inc. bought a new stake in Meta Platforms, Inc. (NASDAQ:META) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,054 shares of the social networking company’s stock, valued at approximately $512,000. Meta Platforms comprises 0.2% of RFG Holdings Inc.’s holdings, making the stock its 23rd biggest holding.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Baird Financial Group Inc. grew its holdings in Meta Platforms by 24.2% during the fourth quarter. Baird Financial Group Inc. now owns 835,972 shares of the social networking company’s stock worth $295,901,000 after acquiring an additional 163,067 shares during the period. California State Teachers Retirement System grew its holdings in Meta Platforms by 1.5% during the fourth quarter. California State Teachers Retirement System now owns 3,576,285 shares of the social networking company’s stock worth $1,265,862,000 after acquiring an additional 51,900 shares during the period. Donoghue Forlines LLC grew its holdings in Meta Platforms by 94.4% during the fourth quarter. Donoghue Forlines LLC now owns 8,349 shares of the social networking company’s stock worth $2,955,000 after acquiring an additional 4,054 shares during the period. Daiwa Securities Group Inc. grew its holdings in Meta Platforms by 7.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company’s stock worth $159,841,000 after acquiring an additional 32,423 shares during the period. Finally, Voyager Global Management LP grew its holdings in Meta Platforms by 37.3% during the fourth quarter. Voyager Global Management LP now owns 515,000 shares of the social networking company’s stock worth $182,289,000 after acquiring an additional 140,000 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Meta Platforms news, COO Javier Olivan sold 412 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $472.70, for a total value of $194,752.40. Following the completion of the sale, the chief operating officer now owns 15,376 shares in the company, valued at approximately $7,268,235.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Javier Olivan sold 412 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $472.70, for a total transaction of $194,752.40. Following the completion of the transaction, the chief operating officer now owns 15,376 shares in the company, valued at approximately $7,268,235.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark Zuckerberg sold 9,760 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $502.87, for a total value of $4,908,011.20. Following the transaction, the chief executive officer now owns 247,915 shares of the company’s stock, valued at approximately $124,669,016.05. The disclosure for this sale can be found here. In the last quarter, insiders sold 232,607 shares of company stock worth $113,147,760. 13.71% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on META shares. Royal Bank of Canada lowered their target price on Meta Platforms from $600.00 to $570.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Meta Platforms from $540.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. The Goldman Sachs Group dropped their target price on shares of Meta Platforms from $555.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Oppenheimer reduced their target price on Meta Platforms from $585.00 to $500.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Finally, Wolfe Research dropped their price target on Meta Platforms from $530.00 to $500.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $510.05.

Meta Platforms Stock Performance

META opened at $513.12 on Thursday. The firm has a market capitalization of $1.30 trillion, a P/E ratio of 29.47, a price-to-earnings-growth ratio of 1.33 and a beta of 1.21. The stock’s 50 day moving average price is $479.18 and its two-hundred day moving average price is $452.22. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 12-month low of $274.38 and a 12-month high of $531.49.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. The firm had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. On average, equities analysts forecast that Meta Platforms, Inc. will post 20.16 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were given a $0.50 dividend. The ex-dividend date was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.39%. Meta Platforms’s dividend payout ratio is currently 11.49%.

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.