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

PFG Advisors lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 12.2% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 10,159 shares of the social networking company’s stock after buying an additional 1,108 shares during the quarter. PFG Advisors’ holdings in Meta Platforms were worth $7,460,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of META. Diversify Advisory Services LLC grew its stake in Meta Platforms by 53.0% in the 3rd quarter. Diversify Advisory Services LLC now owns 84,821 shares of the social networking company’s stock valued at $62,291,000 after buying an additional 29,390 shares during the last quarter. Navis Wealth Advisors LLC lifted its position in Meta Platforms by 7.7% during the third quarter. Navis Wealth Advisors LLC now owns 1,773 shares of the social networking company’s stock worth $1,302,000 after acquiring an additional 127 shares during the last quarter. ProVise Management Group LLC lifted its position in Meta Platforms by 7.2% during the third quarter. ProVise Management Group LLC now owns 21,674 shares of the social networking company’s stock worth $15,917,000 after acquiring an additional 1,459 shares during the last quarter. Altman Advisors Inc. boosted its holdings in shares of Meta Platforms by 49.8% during the third quarter. Altman Advisors Inc. now owns 6,445 shares of the social networking company’s stock worth $4,733,000 after acquiring an additional 2,142 shares during the period. Finally, B. Metzler seel. Sohn & Co. AG grew its position in shares of Meta Platforms by 25.8% in the third quarter. B. Metzler seel. Sohn & Co. AG now owns 553,798 shares of the social networking company’s stock valued at $406,696,000 after purchasing an additional 113,485 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In related news, COO Javier Olivan sold 2,461 shares of the company’s stock in a transaction dated Sunday, February 15th. The shares were sold at an average price of $639.77, for a total transaction of $1,574,473.97. Following the completion of the sale, the chief operating officer owned 12,108 shares of the company’s stock, valued at $7,746,335.16. This represents a 16.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Susan J. Li sold 56,571 shares of the stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $644.70, for a total transaction of $36,471,323.70. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 161,446 shares of company stock valued at $103,451,688 over the last quarter. 13.61% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Pivotal Research lowered their target price on Meta Platforms from $930.00 to $910.00 and set a “buy” rating on the stock in a research note on Thursday, January 29th. Monness Crespi & Hardt boosted their price target on Meta Platforms from $808.00 to $890.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. KeyCorp decreased their price objective on Meta Platforms from $875.00 to $835.00 and set an “overweight” rating on the stock in a report on Monday, January 26th. Evercore increased their price objective on Meta Platforms from $875.00 to $900.00 and gave the stock an “outperform” rating in a research report on Thursday, January 29th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $860.00 target price (up from $750.00) on shares of Meta Platforms in a report on Thursday, January 29th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus price target of $844.44.

View Our Latest Analysis on Meta Platforms

Meta Platforms Trading Down 2.5%

Shares of NASDAQ:META opened at $638.18 on Friday. The business’s 50 day simple moving average is $653.98 and its 200 day simple moving average is $678.88. Meta Platforms, Inc. has a 1 year low of $479.80 and a 1 year high of $796.25. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.60 and a quick ratio of 2.60. The company has a market capitalization of $1.61 trillion, a P/E ratio of 27.16, a P/E/G ratio of 1.02 and a beta of 1.30.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its quarterly earnings data on Wednesday, January 28th. The social networking company reported $8.88 earnings per share for the quarter, beating the consensus estimate of $8.16 by $0.72. The firm had revenue of $59.89 billion during the quarter, compared to analysts’ expectations of $58.33 billion. Meta Platforms had a return on equity of 38.61% and a net margin of 30.08%.The company’s quarterly revenue was up 23.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $8.02 EPS. On average, research analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

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

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Meta Platforms Company 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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