PFG Investments LLC Has $22.34 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

PFG Investments LLC lifted its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 134.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 45,997 shares of the social networking company's stock after purchasing an additional 26,341 shares during the quarter. Meta Platforms accounts for approximately 1.4% of PFG Investments LLC's holdings, making the stock its 6th largest position. PFG Investments LLC's holdings in Meta Platforms were worth $22,335,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Stone House Investment Management LLC grew its stake in shares of Meta Platforms by 625.0% in the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company's stock worth $26,000 after purchasing an additional 75 shares in the last quarter. Beaird Harris Wealth Management LLC boosted its stake in Meta Platforms by 68.9% during the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company's stock valued at $31,000 after buying an additional 42 shares in the last quarter. Quest Partners LLC bought a new position in Meta Platforms during the fourth quarter valued at about $32,000. PayPay Securities Corp boosted its stake in Meta Platforms by 65.2% during the third quarter. PayPay Securities Corp now owns 109 shares of the social networking company's stock valued at $33,000 after buying an additional 43 shares in the last quarter. Finally, Clear Investment Research LLC boosted its stake in Meta Platforms by 411.1% during the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company's stock valued at $33,000 after buying an additional 74 shares in the last quarter. Institutional investors own 79.91% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on META. UBS Group decreased their target price on Meta Platforms from $610.00 to $575.00 and set a "buy" rating for the company in a research note on Thursday. Canaccord Genuity Group raised their target price on Meta Platforms from $450.00 to $540.00 and gave the company a "buy" rating in a research note on Friday, February 2nd. Wolfe Research decreased their target price on Meta Platforms from $530.00 to $500.00 and set an "outperform" rating for the company in a research note on Thursday. Sanford C. Bernstein decreased their target price on Meta Platforms from $590.00 to $565.00 and set an "outperform" rating for the company in a research note on Thursday. Finally, Guggenheim reduced their target price on Meta Platforms from $520.00 to $500.00 and set a "buy" rating for the company in a report on Thursday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty-eight have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $509.18.

Meta Platforms Stock Up 0.4 %

Shares of META traded up $1.91 during midday trading on Friday, reaching $443.29. 32,645,619 shares of the stock were exchanged, compared to its average volume of 18,233,678. Meta Platforms, Inc. has a 12-month low of $229.85 and a 12-month high of $531.49. The firm has a 50 day simple moving average of $494.48 and a 200-day simple moving average of $404.85. The company has a quick ratio of 2.67, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The company has a market cap of $1.13 trillion, a price-to-earnings ratio of 25.46, a P/E/G ratio of 1.12 and a beta of 1.20.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating analysts' consensus estimates of $4.32 by $0.39. The business had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. Research analysts forecast that Meta Platforms, Inc. will post 20.33 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date was Wednesday, February 21st. Meta Platforms's dividend payout ratio is 11.49%.

Insider Activity

In other news, CEO Mark Zuckerberg sold 19,681 shares of the stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $393.85, for a total transaction of $7,751,361.85. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the firm's stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $491.25, for a total value of $287,381.25. Following the sale, the insider now owns 37,228 shares of the company's stock, valued at approximately $18,288,255. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark Zuckerberg sold 19,681 shares of the firm's stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $393.85, for a total value of $7,751,361.85. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,349,148 shares of company stock valued at $649,552,559. Insiders own 13.75% of the company's stock.

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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