Allen Capital Group LLC Increases Stock Position in Meta Platforms, Inc. (NASDAQ:META)

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

A number of other institutional investors also recently added to or reduced their stakes in the business. Stone House Investment Management LLC lifted its position in shares of Meta Platforms by 625.0% during the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after acquiring an additional 75 shares during the period. MBM Wealth Consultants LLC acquired a new stake in shares of Meta Platforms during the 4th quarter valued at approximately $26,000. Stephens Investment Management Group LLC acquired a new stake in shares of Meta Platforms during the 2nd quarter valued at approximately $30,000. Beaird Harris Wealth Management LLC lifted its position in shares of Meta Platforms by 68.9% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after acquiring an additional 42 shares during the period. Finally, PayPay Securities Corp lifted its position in shares of Meta Platforms by 65.2% during the 3rd quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock valued at $33,000 after acquiring an additional 43 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on META. BMO Capital Markets lifted their price target on shares of Meta Platforms from $397.00 to $450.00 and gave the company a “market perform” rating in a research report on Friday, February 2nd. Robert W. Baird lifted their price objective on Meta Platforms from $385.00 to $525.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Evercore ISI lifted their price objective on Meta Platforms from $425.00 to $550.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Stifel Nicolaus lifted their price objective on Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Canaccord Genuity Group lifted their price objective on Meta Platforms from $450.00 to $540.00 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 assigned a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus target price of $509.28.

Meta Platforms Stock Down 0.1 %

Shares of Meta Platforms stock opened at $499.10 on Wednesday. The company has a fifty day moving average price of $493.16 and a 200 day moving average price of $396.01. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a twelve month low of $207.13 and a twelve month high of $531.49. The stock has a market cap of $1.27 trillion, a price-to-earnings ratio of 33.54, a price-to-earnings-growth ratio of 1.28 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Thursday, February 1st. The social networking company reported $5.33 earnings per share for the quarter, topping 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 firm had revenue of $40.11 billion during the quarter, compared to analysts’ expectations of $39.12 billion. During the same period in the prior year, the company earned $3.00 EPS. The firm’s revenue was up 24.7% on a year-over-year basis. Equities research analysts forecast that Meta Platforms, Inc. will post 20.06 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, February 22nd were given 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 yield of 0.40%. Meta Platforms’s payout ratio is currently 13.42%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 566 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $385.00, for a total value of $217,910.00. Following the completion of the transaction, the insider now directly owns 35,286 shares of the company’s stock, valued at approximately $13,585,110. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Meta Platforms news, insider Jennifer Newstead sold 566 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $385.00, for a total value of $217,910.00. Following the completion of the transaction, the insider now directly owns 35,286 shares of the company’s stock, valued at approximately $13,585,110. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Nicholas Clegg sold 2,025 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $473.28, for a total transaction of $958,392.00. Following the completion of the sale, the insider now owns 10,053 shares in the company, valued at approximately $4,757,883.84. The disclosure for this sale can be found here. Insiders sold a total of 1,439,788 shares of company stock valued at $684,542,792 in the last ninety days. Insiders own 14.03% of the company’s stock.

Meta Platforms 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.