PFG Investments LLC Trims Holdings in Meta Platforms, Inc. (NASDAQ:META)

PFG Investments LLC cut its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 9.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,605 shares of the social networking company’s stock after selling 4,392 shares during the period. Meta Platforms comprises approximately 1.5% of PFG Investments LLC’s portfolio, making the stock its 6th largest position. PFG Investments LLC’s holdings in Meta Platforms were worth $20,978,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in META. Quest Partners LLC bought a new position in shares of Meta Platforms during the 4th quarter worth approximately $32,000. Clear Investment Research LLC boosted its position in shares of Meta Platforms by 411.1% during the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after buying an additional 74 shares during the last quarter. Delos Wealth Advisors LLC grew its stake in shares of Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after acquiring an additional 58 shares in the last quarter. POM Investment Strategies LLC bought a new position in shares of Meta Platforms during the second quarter valued at about $38,000. Finally, Ruedi Wealth Management Inc. boosted its holdings in Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after purchasing an additional 44 shares during the last quarter. 79.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on META. TD Securities lifted their target price on shares of Meta Platforms from $530.00 to $600.00 in a research report on Wednesday, July 10th. Sanford C. Bernstein lifted their target price on Meta Platforms from $565.00 to $575.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Deutsche Bank Aktiengesellschaft increased their price target on shares of Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. JMP Securities reaffirmed a “market outperform” rating and issued a $525.00 price target on shares of Meta Platforms in a report on Tuesday, July 30th. Finally, Raymond James increased their price objective on Meta Platforms from $550.00 to $600.00 and gave the company a “strong-buy” rating in a report on Monday, July 1st. Two analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-four have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and a consensus target price of $577.26.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of the stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $496.99, for a total transaction of $449,775.95. Following the completion of the sale, the insider now directly owns 38,750 shares in the company, valued at approximately $19,258,362.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $496.99, for a total transaction of $449,775.95. Following the completion of the sale, the insider now owns 38,750 shares of the company’s stock, valued at approximately $19,258,362.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark Zuckerberg sold 2,054 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $501.05, for a total transaction of $1,029,156.70. Following the completion of the sale, the chief executive officer now directly owns 253,000 shares in the company, valued at approximately $126,765,650. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 357,574 shares of company stock worth $185,587,773. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

Shares of NASDAQ META opened at $525.60 on Friday. The stock’s 50-day moving average is $505.44 and its 200 day moving average is $495.07. The stock has a market cap of $1.33 trillion, a price-to-earnings ratio of 30.19, a P/E/G ratio of 1.23 and a beta of 1.21. Meta Platforms, Inc. has a 1-year low of $279.40 and a 1-year high of $544.23. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. During the same period in the previous year, the business posted $3.23 EPS. The business’s quarterly revenue was up 22.1% on a year-over-year basis. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.38%. Meta Platforms’s dividend payout ratio (DPR) 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.