Floyd Financial Group LLC Acquires 2,086 Shares of Meta Platforms, Inc. (NASDAQ:META)

Floyd Financial Group LLC lifted its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 45.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,632 shares of the social networking company's stock after acquiring an additional 2,086 shares during the period. Meta Platforms accounts for about 3.5% of Floyd Financial Group LLC's investment portfolio, making the stock its 11th largest holding. Floyd Financial Group LLC's holdings in Meta Platforms were worth $3,822,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Norges Bank bought a new stake in Meta Platforms during the fourth quarter valued at approximately $19,949,512,000. GAMMA Investing LLC boosted its holdings in Meta Platforms by 67,172.9% in the 1st quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company's stock worth $13,517,178,000 after buying an additional 23,417,803 shares during the period. Proficio Capital Partners LLC lifted its position in shares of Meta Platforms by 78,471.1% in the fourth quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company's stock valued at $3,658,713,000 after acquiring an additional 6,240,810 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Meta Platforms during the 4th quarter valued at approximately $2,243,603,000. Finally, Northern Trust Corp grew its holdings in Meta Platforms by 13.5% during the 4th quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company's stock valued at $13,727,613,000 after buying an additional 2,787,832 shares in the last quarter. Institutional investors own 79.91% of the company's stock.

Insider Activity at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 6,874 shares of the stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total value of $4,532,440.64. Following the completion of the sale, the chief financial officer now directly owns 70,040 shares of the company's stock, valued at $46,181,574.40. This represents a 8.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Andrew Bosworth sold 22,449 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the transaction, the chief technology officer now owns 1,183 shares of the company's stock, valued at approximately $753,393.55. This represents a 94.99% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,652 shares of company stock valued at $34,815,208. Corporate insiders own 13.61% of the company's stock.

Analyst Ratings Changes

META has been the topic of several research analyst reports. Cantor Fitzgerald boosted their price target on shares of Meta Platforms from $624.00 to $676.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. DA Davidson cut their target price on shares of Meta Platforms from $800.00 to $650.00 and set a "buy" rating for the company in a report on Monday, April 14th. KeyCorp boosted their target price on shares of Meta Platforms from $645.00 to $655.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Truist Financial boosted their price objective on Meta Platforms from $700.00 to $720.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Finally, Scotiabank dropped their target price on Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating for the company in a report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $702.48.

Meta Platforms Price Performance

Shares of NASDAQ:META traded down $3.33 on Thursday, reaching $684.62. 13,062,206 shares of the company traded hands, compared to its average volume of 14,510,826. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The stock has a market capitalization of $1.72 trillion, a PE ratio of 28.62, a P/E/G ratio of 1.42 and a beta of 1.24. The company's 50 day moving average is $583.27 and its 200-day moving average is $613.00. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $740.91.

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

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be paid a dividend of $0.525 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.31%. Meta Platforms's dividend payout ratio (DPR) is presently 8.19%.

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.