AG Asset Advisory LLC Invests $50.97 Million in Meta Platforms, Inc. (NASDAQ:META)

AG Asset Advisory LLC bought a new stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 87,058 shares of the social networking company's stock, valued at approximately $50,973,000. Meta Platforms comprises approximately 50.9% of AG Asset Advisory LLC's investment portfolio, making the stock its biggest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Suvretta Capital Management LLC boosted its position in Meta Platforms by 1.1% during the 4th quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company's stock worth $99,735,000 after acquiring an additional 1,850 shares during the period. Skye Global Management LP grew its position in Meta Platforms by 130.9% in the 4th quarter. Skye Global Management LP now owns 76,200 shares of the social networking company's stock valued at $44,616,000 after buying an additional 43,200 shares in the last quarter. Brueske Advisory Services LLC acquired a new position in Meta Platforms during the 4th quarter valued at about $459,000. Apollon Financial LLC raised its position in shares of Meta Platforms by 11.1% during the 4th quarter. Apollon Financial LLC now owns 1,479 shares of the social networking company's stock worth $866,000 after buying an additional 148 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC lifted its stake in shares of Meta Platforms by 255.9% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,709,694 shares of the social networking company's stock worth $1,001,044,000 after acquiring an additional 1,229,350 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 608 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $673.96, for a total value of $409,767.68. Following the sale, the chief operating officer now owns 8,662 shares in the company, valued at $5,837,841.52. This represents a 6.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert M. Kimmitt sold 475 shares of Meta Platforms stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $628.25, for a total value of $298,418.75. Following the transaction, the director now owns 10,272 shares of the company's stock, valued at $6,453,384. This represents a 4.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 56,664 shares of company stock valued at $35,484,670. 13.61% of the stock is owned by corporate insiders.

Meta Platforms Stock Down 0.4%

META stock traded down $2.89 during midday trading on Friday, hitting $642.16. The company's stock had a trading volume of 6,943,767 shares, compared to its average volume of 14,440,387. The company's fifty day moving average price is $578.25 and its 200 day moving average price is $610.43. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91. The stock has a market capitalization of $1.61 trillion, a P/E ratio of 26.87, a PEG ratio of 1.42 and a beta of 1.24.

Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The business had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same quarter in the prior year, the company posted $4.71 earnings per share. Meta Platforms's revenue was up 16.1% on a year-over-year basis. As a group, equities research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.33%. Meta Platforms's payout ratio is presently 8.19%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on META shares. Barclays decreased their target price on Meta Platforms from $705.00 to $640.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. BMO Capital Markets raised their target price on shares of Meta Platforms from $530.00 to $610.00 and gave the stock a "market perform" rating in a report on Thursday, January 30th. Raymond James dropped their price target on Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating on the stock in a report on Thursday, May 1st. Oppenheimer raised their price objective on Meta Platforms from $650.00 to $665.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Finally, Evercore ISI boosted their target price on Meta Platforms from $725.00 to $750.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $701.05.

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.