Meta Platforms, Inc. (NASDAQ:META) is QRG Capital Management Inc.'s 5th Largest Position

QRG Capital Management Inc. lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 1.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 433,208 shares of the social networking company's stock after purchasing an additional 4,386 shares during the period. Meta Platforms accounts for about 2.6% of QRG Capital Management Inc.'s portfolio, making the stock its 5th biggest position. QRG Capital Management Inc.'s holdings in Meta Platforms were worth $249,684,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Fjell Capital LLC bought a new position in Meta Platforms during the fourth quarter worth $1,836,000. Opulen Financial Group LLC acquired a new position in shares of Meta Platforms during the fourth quarter valued at about $325,000. Daner Wealth Management LLC bought a new position in shares of Meta Platforms during the 4th quarter worth about $334,000. Brighton Jones LLC grew its stake in shares of Meta Platforms by 1.7% in the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock valued at $20,230,000 after buying an additional 570 shares during the period. Finally, Union Bancaire Privee UBP SA bought a new stake in Meta Platforms in the 4th quarter valued at about $112,406,000. Institutional investors and hedge funds own 79.91% of the company's stock.

Insider Buying and Selling

In other Meta Platforms news, COO Javier Olivan sold 608 shares of the firm's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $488.18, for a total value of $296,813.44. Following the completion of the transaction, the chief operating officer now owns 5,622 shares in the company, valued at $2,744,547.96. This trade represents a 9.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Newstead sold 921 shares of the company's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $627.05, for a total transaction of $577,513.05. Following the sale, the insider now directly owns 31,182 shares in the company, valued at $19,552,673.10. This trade represents a 2.87% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 111,031 shares of company stock valued at $73,954,565. Company insiders own 13.61% of the company's stock.

Meta Platforms Stock Performance

Shares of META traded down $13.42 during mid-day trading on Friday, hitting $682.35. The stock had a trading volume of 22,498,010 shares, compared to its average volume of 14,546,627. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66. The business has a fifty day moving average price of $618.10 and a 200-day moving average price of $623.08. The firm has a market cap of $1.72 trillion, a P/E ratio of 26.61, a PEG ratio of 1.71 and a beta of 1.26.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) 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 analysts' expectations of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The firm's quarterly revenue was up 16.1% compared to the same quarter last year. During the same period in the previous year, the business posted $4.71 EPS. On average, equities research analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The firm 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 $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.31%. The ex-dividend date is Monday, June 16th. Meta Platforms's dividend payout ratio (DPR) is presently 8.19%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Truist Financial increased their price target on Meta Platforms from $700.00 to $720.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Monness Crespi & Hardt increased their target price on Meta Platforms from $775.00 to $780.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. DA Davidson decreased their price target on shares of Meta Platforms from $800.00 to $650.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Loop Capital raised their price objective on shares of Meta Platforms from $695.00 to $888.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Finally, Wedbush lifted their price objective on shares of Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $710.00.

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.