PFG Investments LLC grew its position in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 2.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,303 shares of the social networking company’s stock after purchasing an additional 1,203 shares during the quarter. Meta Platforms makes up 1.7% of PFG Investments LLC’s investment portfolio, making the stock its 6th largest position. PFG Investments LLC’s holdings in Meta Platforms were worth $27,111,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of META. JDM Financial Group LLC acquired a new stake in Meta Platforms during the third quarter worth approximately $30,000. Safe Harbor Fiduciary LLC acquired a new stake in Meta Platforms during the 3rd quarter worth $36,000. Avondale Wealth Management purchased a new stake in Meta Platforms in the fourth quarter valued at $41,000. Halpern Financial Inc. acquired a new position in Meta Platforms in the third quarter valued at $46,000. Finally, West Financial Advisors LLC purchased a new position in shares of Meta Platforms during the third quarter worth about $49,000. 79.91% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other Meta Platforms news, CEO Mark Zuckerberg sold 22,366 shares of Meta Platforms stock in a transaction on Monday, January 27th. The shares were sold at an average price of $648.68, for a total value of $14,508,376.88. Following the transaction, the chief executive officer now owns 580 shares in the company, valued at $376,234.40. This trade represents a 97.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Aaron Anderson sold 731 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $407,167.00. Following the sale, the chief accounting officer now owns 3,414 shares of the company’s stock, valued at approximately $1,901,598. The trade was a 17.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 661,312 shares of company stock valued at $407,377,422. Insiders own 13.71% of the company’s stock.
Meta Platforms Stock Up 0.3 %
Meta Platforms (NASDAQ:META – Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. During the same period in the prior year, the company earned $5.33 earnings per share. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 22.96 earnings per share for the current year.
Meta Platforms Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, December 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.30%. Meta Platforms’s payout ratio is currently 9.42%.
Analysts Set New Price Targets
A number of analysts recently issued reports on META shares. The Goldman Sachs Group upped their target price on Meta Platforms from $555.00 to $636.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Wedbush restated an “outperform” rating and set a $700.00 target price (up from $680.00) on shares of Meta Platforms in a research report on Wednesday, January 22nd. Mizuho lifted their target price on shares of Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Roth Mkm increased their price target on shares of Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Stifel Nicolaus lifted their price objective on shares of Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Two analysts have rated the stock with a sell rating, five have given a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $655.41.
Read Our Latest Stock Analysis on Meta Platforms
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.
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