Allen Capital Group LLC Has $8.48 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Allen Capital Group LLC lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 7.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,709 shares of the social networking company's stock after acquiring an additional 1,006 shares during the period. Meta Platforms accounts for approximately 1.0% of Allen Capital Group LLC's investment portfolio, making the stock its 26th biggest holding. Allen Capital Group LLC's holdings in Meta Platforms were worth $8,478,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Meta Platforms during the 4th quarter valued at about $19,949,512,000. GAMMA Investing LLC grew its holdings in Meta Platforms by 67,172.9% in the first quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company's stock valued at $13,517,178,000 after purchasing an additional 23,417,803 shares during the period. Raymond James Financial Inc. acquired a new position in Meta Platforms during the fourth quarter worth approximately $2,243,603,000. Northern Trust Corp raised its stake in Meta Platforms by 13.5% during the fourth quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company's stock worth $13,727,613,000 after purchasing an additional 2,787,832 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Meta Platforms by 712.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,537,631 shares of the social networking company's stock valued at $1,462,589,000 after purchasing an additional 2,225,186 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Robert M. Kimmitt sold 465 shares of Meta Platforms stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $723.08, for a total value of $336,232.20. Following the transaction, the director owned 9,342 shares of the company's stock, valued at approximately $6,755,013.36. This trade represents a 4.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Javier Olivan sold 517 shares of the business's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $717.50, for a total transaction of $370,947.50. Following the sale, the chief operating officer owned 6,819 shares in the company, valued at $4,892,632.50. This represents a 7.05% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 152,437 shares of company stock valued at $105,068,570. 13.61% of the stock is owned by insiders.

Meta Platforms Price Performance

META traded down $8.16 during trading on Tuesday, reaching $704.81. The stock had a trading volume of 8,873,115 shares, compared to its average volume of 14,295,060. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $747.90. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16. The stock has a 50 day moving average of $686.09 and a two-hundred day moving average of $638.61. The firm has a market capitalization of $1.77 trillion, a price-to-earnings ratio of 27.49, a price-to-earnings-growth ratio of 1.72 and a beta of 1.28.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping the consensus estimate of $5.33 by $1.10. The firm had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. Meta Platforms's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the previous year, the business earned $4.71 earnings per share. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.30%. Meta Platforms's dividend payout ratio (DPR) is presently 8.19%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. boosted their price target on Meta Platforms from $735.00 to $795.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Oppenheimer raised their price target on shares of Meta Platforms from $665.00 to $775.00 and gave the company an "outperform" rating in a report on Monday, June 16th. DA Davidson dropped their price objective on shares of Meta Platforms from $800.00 to $650.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Stifel Nicolaus lifted their target price on shares of Meta Platforms from $655.00 to $845.00 and gave the company a "buy" rating in a report on Tuesday. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $740.00 price target on shares of Meta Platforms in a report on Thursday, May 1st. Five analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms presently has a consensus rating of "Moderate Buy" and an average price target of $748.60.

About Meta Platforms

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.