PFG Advisors Has $4.24 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

PFG Advisors lifted its stake in Meta Platforms, Inc. (NASDAQ:META) by 8.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,417 shares of the social networking company’s stock after acquiring an additional 667 shares during the period. PFG Advisors’ holdings in Meta Platforms were worth $4,244,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quest Partners LLC acquired a new stake in Meta Platforms during the fourth quarter worth $32,000. Clear Investment Research LLC boosted its stake in Meta Platforms by 411.1% during the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after buying an additional 74 shares in the last quarter. Delos Wealth Advisors LLC boosted its stake in Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after buying an additional 58 shares in the last quarter. POM Investment Strategies LLC acquired a new stake in shares of Meta Platforms in the 2nd quarter valued at $38,000. Finally, Ruedi Wealth Management Inc. boosted its stake in shares of Meta Platforms by 122.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 44 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

META has been the topic of several recent analyst reports. Jefferies Financial Group boosted their target price on shares of Meta Platforms from $565.00 to $600.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. The Goldman Sachs Group boosted their target price on shares of Meta Platforms from $522.00 to $555.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. boosted their target price on shares of Meta Platforms from $480.00 to $610.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Robert W. Baird lifted their price target on Meta Platforms from $500.00 to $530.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Finally, Rosenblatt Securities lifted their price target on Meta Platforms from $562.00 to $643.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-four have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average price target of $577.26.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 150 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $500.49, for a total transaction of $75,073.50. Following the sale, the chief executive officer now owns 124,387 shares in the company, valued at approximately $62,254,449.63. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Susan J. Li sold 8,950 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $4,714,502.00. Following the sale, the chief financial officer now owns 74,579 shares in the company, valued at approximately $39,285,234.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 150 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $500.49, for a total value of $75,073.50. Following the completion of the sale, the chief executive officer now owns 124,387 shares in the company, valued at approximately $62,254,449.63. The disclosure for this sale can be found here. Insiders have sold a total of 357,574 shares of company stock worth $185,587,773 in the last 90 days. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Trading Down 0.2 %

NASDAQ:META opened at $524.62 on Monday. Meta Platforms, Inc. has a twelve month low of $279.40 and a twelve month high of $544.23. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The business has a 50 day moving average price of $505.13 and a two-hundred day moving average price of $495.51. The company has a market cap of $1.33 trillion, a P/E ratio of 30.13, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results 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 return on equity of 34.16% and a net margin of 34.34%. The firm had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. During the same quarter in the prior year, the firm posted $3.23 EPS. The business’s revenue was up 22.1% on a year-over-year basis. As a group, analysts expect 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. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend is Monday, September 16th. Meta Platforms’s dividend payout ratio is currently 11.49%.

Meta Platforms Company 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.