Meta Platforms, Inc. (NASDAQ:META) Shares Bought by PFG Investments LLC

PFG Investments LLC raised its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 2.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,225 shares of the social networking company's stock after buying an additional 922 shares during the period. Meta Platforms comprises 1.7% of PFG Investments LLC's portfolio, making the stock its 6th biggest position. PFG Investments LLC's holdings in Meta Platforms were worth $27,219,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of META. Fjell Capital LLC acquired a new stake in shares of Meta Platforms during the fourth quarter worth approximately $1,836,000. Opulen Financial Group LLC bought a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $325,000. Daner Wealth Management LLC bought a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $334,000. Brighton Jones LLC grew its stake in shares of Meta Platforms by 1.7% during the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock valued at $20,230,000 after purchasing an additional 570 shares during the last quarter. Finally, Union Bancaire Privee UBP SA bought a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $112,406,000. Institutional investors and hedge funds own 79.91% of the company's stock.

Meta Platforms Trading Down 1.9%

Shares of NASDAQ:META opened at $682.35 on Monday. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91. 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 company's fifty day simple moving average is $618.10 and its 200 day simple moving average is $623.24. The firm has a market cap of $1.72 trillion, a price-to-earnings ratio of 26.61, a PEG ratio of 1.68 and a beta of 1.26.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The business had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same period last year, the business posted $4.71 earnings per share. The firm's quarterly revenue was up 16.1% on a year-over-year basis. As a group, research analysts forecast 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 will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be issued a dividend of $0.525 per share. The ex-dividend date is Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.31%. Meta Platforms's payout ratio is 8.19%.

Insider Buying and Selling

In other Meta Platforms news, COO Javier Olivan sold 406 shares of Meta Platforms stock in a transaction on Monday, April 21st. The shares were sold at an average price of $491.69, for a total value of $199,626.14. Following the sale, the chief operating officer now directly owns 4,608 shares in the company, valued at approximately $2,265,707.52. The trade was a 8.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer Newstead sold 519 shares of Meta Platforms stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $701.99, for a total transaction of $364,332.81. Following the completion of the sale, the insider now owns 28,664 shares in the company, valued at $20,121,841.36. The trade was a 1.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 110,423 shares of company stock worth $73,580,663 over the last ninety days. Company insiders own 13.61% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Susquehanna decreased their price target on shares of Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock in a research note on Thursday, May 1st. Cantor Fitzgerald increased their price target on shares of Meta Platforms from $676.00 to $807.00 and gave the company an "overweight" rating in a research note on Wednesday, June 18th. Wells Fargo & Company reissued an "overweight" rating and set a $664.00 price target on shares of Meta Platforms in a research note on Tuesday, June 17th. Guggenheim increased their price target on shares of Meta Platforms from $675.00 to $725.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Finally, Stifel Nicolaus increased their price target on shares of Meta Platforms from $628.00 to $655.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. One equities research 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $710.00.

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.

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