Allen Capital Group LLC Acquires 271 Shares of Meta Platforms, Inc. (NASDAQ:META)

Allen Capital Group LLC increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,665 shares of the social networking company’s stock after buying an additional 271 shares during the period. Allen Capital Group LLC’s holdings in Meta Platforms were worth $4,837,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Macroview Investment Management LLC raised its stake in shares of Meta Platforms by 125.8% during the fourth quarter. Macroview Investment Management LLC now owns 429 shares of the social networking company’s stock worth $152,000 after buying an additional 239 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Meta Platforms by 4.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 881,961 shares of the social networking company’s stock valued at $312,179,000 after purchasing an additional 34,100 shares in the last quarter. Lipe & Dalton increased its stake in Meta Platforms by 2.1% in the fourth quarter. Lipe & Dalton now owns 2,650 shares of the social networking company’s stock valued at $938,000 after purchasing an additional 55 shares in the last quarter. Eagle Bluffs Wealth Management LLC increased its stake in Meta Platforms by 0.9% in the fourth quarter. Eagle Bluffs Wealth Management LLC now owns 4,623 shares of the social networking company’s stock valued at $1,636,000 after purchasing an additional 41 shares in the last quarter. Finally, Wealth Alliance increased its stake in Meta Platforms by 1.1% in the fourth quarter. Wealth Alliance now owns 13,596 shares of the social networking company’s stock valued at $4,812,000 after purchasing an additional 146 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on META shares. KeyCorp upped their target price on shares of Meta Platforms from $465.00 to $575.00 and gave the company an “overweight” rating in a research note on Tuesday, January 30th. Jefferies Financial Group upped their target price on shares of Meta Platforms from $550.00 to $585.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Wolfe Research increased their price objective on shares of Meta Platforms from $430.00 to $530.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Morgan Stanley increased their price objective on shares of Meta Platforms from $375.00 to $550.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. Finally, Guggenheim increased their price objective on shares of Meta Platforms from $380.00 to $520.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $509.28.

Insider Activity

In related news, CFO Susan J. Li sold 10,956 shares of Meta Platforms stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $473.28, for a total transaction of $5,185,255.68. Following the sale, the chief financial officer now directly owns 76,398 shares in the company, valued at approximately $36,157,645.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Mark Zuckerberg sold 97,093 shares of Meta Platforms stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $469.67, for a total transaction of $45,601,669.31. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Susan J. Li sold 10,956 shares of Meta Platforms stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $473.28, for a total transaction of $5,185,255.68. Following the sale, the chief financial officer now owns 76,398 shares in the company, valued at $36,157,645.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,439,788 shares of company stock worth $684,542,792. Corporate insiders own 14.03% of the company’s stock.

Meta Platforms Trading Down 0.1 %

META opened at $499.10 on Wednesday. The company’s 50 day moving average is $493.16 and its 200-day moving average is $396.01. Meta Platforms, Inc. has a 1-year low of $207.13 and a 1-year high of $531.49. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.12. The company has a market cap of $1.27 trillion, a P/E ratio of 33.54, a PEG ratio of 1.28 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Thursday, February 1st. The social networking company reported $5.33 earnings per share for the quarter, beating analysts’ consensus estimates of $4.82 by $0.51. Meta Platforms had a net margin of 28.98% and a return on equity of 29.48%. The company had revenue of $40.11 billion for the quarter, compared to the consensus estimate of $39.12 billion. During the same period last year, the company posted $3.00 EPS. The firm’s quarterly revenue was up 24.7% compared to the same quarter last year. Equities research analysts predict that Meta Platforms, Inc. will post 20.06 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.40%. Meta Platforms’s payout ratio is currently 13.42%.

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.