QRG Capital Management Inc. Has $238.72 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

QRG Capital Management Inc. raised its position in Meta Platforms, Inc. (NASDAQ:META) by 4.5% during the third quarter, Holdings Channel reports. The institutional investor owned 417,016 shares of the social networking company’s stock after buying an additional 18,131 shares during the quarter. Meta Platforms makes up about 2.6% of QRG Capital Management Inc.’s investment portfolio, making the stock its 5th biggest holding. QRG Capital Management Inc.’s holdings in Meta Platforms were worth $238,716,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Delos Wealth Advisors LLC raised its holdings in Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after purchasing an additional 58 shares during the last quarter. POM Investment Strategies LLC acquired a new stake in shares of Meta Platforms during the 2nd quarter worth approximately $38,000. Ruedi Wealth Management Inc. lifted its holdings in Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after buying an additional 44 shares during the period. Richardson Financial Services Inc. boosted its stake in Meta Platforms by 95.6% in the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after acquiring an additional 43 shares during the last quarter. Finally, Halpern Financial Inc. acquired a new stake in Meta Platforms during the 3rd quarter worth $46,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on META. Roth Mkm raised their price target on Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. UBS Group raised their target price on Meta Platforms from $690.00 to $719.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft upped their price target on Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Bank of America lifted their price objective on shares of Meta Platforms from $630.00 to $660.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Mizuho upped their target price on shares of Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus target price of $634.10.

Insider Buying and Selling at Meta Platforms

In other news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $532.21, for a total transaction of $481,650.05. Following the completion of the sale, the insider now owns 41,437 shares in the company, valued at approximately $22,053,185.77. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $528.51, for a total value of $8,827,174.02. Following the transaction, the chief executive officer now directly owns 72,473 shares of the company’s stock, valued at $38,302,705.23. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $532.21, for a total transaction of $481,650.05. Following the completion of the transaction, the insider now owns 41,437 shares in the company, valued at $22,053,185.77. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 228,118 shares of company stock worth $121,237,935 over the last ninety days. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Up 3.4 %

Meta Platforms stock opened at $591.70 on Friday. Meta Platforms, Inc. has a fifty-two week low of $313.66 and a fifty-two week high of $602.95. The firm has a market capitalization of $1.50 trillion, a PE ratio of 27.87, a P/E/G ratio of 1.24 and a beta of 1.22. The company’s 50-day moving average is $558.95 and its 200-day moving average is $514.71. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The firm had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Sell-side analysts anticipate that Meta Platforms, Inc. will post 22.53 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were given a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.34%. Meta Platforms’s dividend payout ratio (DPR) is 9.42%.

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.