PFG Advisors Acquires 1,108 Shares of Meta Platforms, Inc. $META

PFG Advisors lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 12.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 10,159 shares of the social networking company’s stock after acquiring an additional 1,108 shares during the period. PFG Advisors’ holdings in Meta Platforms were worth $7,460,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Westchester Capital Management Inc. acquired a new position in Meta Platforms during the third quarter worth about $26,000. Bare Financial Services Inc acquired a new stake in shares of Meta Platforms in the 2nd quarter valued at approximately $30,000. Knuff & Co LLC bought a new stake in shares of Meta Platforms during the 2nd quarter valued at approximately $44,000. Spurstone Advisory Services LLC bought a new stake in shares of Meta Platforms during the 2nd quarter valued at approximately $59,000. Finally, Evergreen Private Wealth LLC increased its position in Meta Platforms by 64.8% during the 3rd quarter. Evergreen Private Wealth LLC now owns 89 shares of the social networking company’s stock worth $65,000 after purchasing an additional 35 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $638.18 on Friday. The stock has a market cap of $1.61 trillion, a price-to-earnings ratio of 27.16, a P/E/G ratio of 1.02 and a beta of 1.30. Meta Platforms, Inc. has a twelve month low of $479.80 and a twelve month high of $796.25. The company’s fifty day moving average is $653.98 and its 200 day moving average is $678.88. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 0.27.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its earnings results on Wednesday, January 28th. The social networking company reported $8.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.16 by $0.72. Meta Platforms had a return on equity of 38.61% and a net margin of 30.08%.The business had revenue of $59.89 billion during the quarter, compared to analyst estimates of $58.33 billion. During the same period last year, the company earned $8.02 EPS. Meta Platforms’s revenue for the quarter was up 23.8% compared to the same quarter last year. Sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Monday, March 16th will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Monday, March 16th. Meta Platforms’s dividend payout ratio (DPR) is 8.94%.

Key Stories Impacting Meta Platforms

Here are the key news stories impacting Meta Platforms this week:

Insider Buying and Selling

In other news, CTO Andrew Bosworth sold 8,089 shares of the company’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $631.24, for a total value of $5,106,100.36. Following the sale, the chief technology officer directly owned 2,841 shares of the company’s stock, valued at approximately $1,793,352.84. This represents a 74.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Javier Olivan sold 2,461 shares of the stock in a transaction on Sunday, February 15th. The stock was sold at an average price of $639.77, for a total transaction of $1,574,473.97. Following the sale, the chief operating officer owned 12,108 shares of the company’s stock, valued at approximately $7,746,335.16. This trade represents a 16.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 161,446 shares of company stock valued at $103,451,688 over the last ninety days. 13.61% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Truist Financial raised their target price on shares of Meta Platforms from $875.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. Robert W. Baird upped their price target on shares of Meta Platforms from $815.00 to $830.00 and gave the stock an “outperform” rating in a report on Thursday, January 29th. Wedbush increased their price target on Meta Platforms from $880.00 to $900.00 and gave the company an “outperform” rating in a research note on Thursday, January 29th. Evercore raised their price objective on Meta Platforms from $875.00 to $900.00 and gave the company an “outperform” rating in a report on Thursday, January 29th. Finally, Raymond James Financial reduced their price objective on Meta Platforms from $825.00 to $800.00 and set a “strong-buy” rating on the stock in a research report on Monday, January 26th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $844.44.

Read Our Latest Stock Report on META

Meta Platforms Profile

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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