Meta Platforms, Inc. (NASDAQ:META) Stock Position Increased by FCG Investment Co

FCG Investment Co raised its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 6.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,611 shares of the social networking company’s stock after buying an additional 401 shares during the quarter. Meta Platforms comprises about 2.5% of FCG Investment Co’s investment portfolio, making the stock its 9th biggest holding. FCG Investment Co’s holdings in Meta Platforms were worth $3,333,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Quest Partners LLC purchased a new stake in Meta Platforms during the 4th quarter valued at $32,000. Clear Investment Research LLC boosted its position in shares of 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 during the last quarter. Delos Wealth Advisors LLC increased its holdings in Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after buying an additional 58 shares in the last quarter. Richardson Financial Services Inc. raised its position in Meta Platforms by 95.6% in the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after buying an additional 43 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. bought a new position in Meta Platforms during the 1st quarter valued at about $44,000. 79.91% of the stock is owned by institutional investors.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 901 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $451.15, for a total value of $406,486.15. Following the completion of the sale, the insider now owns 33,324 shares in the company, valued at $15,034,122.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Jennifer Newstead sold 901 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $451.15, for a total value of $406,486.15. Following the completion of the sale, the insider now directly owns 33,324 shares of the company’s stock, valued at $15,034,122.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $513.09, for a total transaction of $8,569,629.18. Following the transaction, the chief executive officer now directly owns 98,654 shares in the company, valued at approximately $50,618,380.86. The disclosure for this sale can be found here. Over the last three months, insiders have sold 315,770 shares of company stock valued at $157,719,910. 13.71% of the stock is currently owned by company insiders.

Analyst Ratings Changes

META has been the subject of several research reports. Wells Fargo & Company boosted their price objective on shares of Meta Platforms from $625.00 to $647.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Oppenheimer increased their price target on Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $570.00 price objective on shares of Meta Platforms in a report on Thursday, August 1st. Bank of America increased their target price on Meta Platforms from $550.00 to $563.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Wedbush restated an “outperform” rating and set a $570.00 price target on shares of Meta Platforms in a research note on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-three have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $572.51.

Meta Platforms Trading Up 0.3 %

Shares of META stock traded up $1.74 during trading hours on Wednesday, reaching $530.28. 3,848,759 shares of the stock were exchanged, compared to its average volume of 16,343,741. The company has a current ratio of 2.83, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The company’s 50-day moving average price is $498.29 and its 200-day moving average price is $485.68. Meta Platforms, Inc. has a 12-month low of $274.38 and a 12-month high of $542.81. The firm has a market capitalization of $1.35 trillion, a price-to-earnings ratio of 30.35, a price-to-earnings-growth ratio of 1.27 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.46. The business had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period last year, the company earned $3.23 earnings per share. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 20.5 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were paid a $0.50 dividend. The ex-dividend date was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a yield of 0.38%. Meta Platforms’s dividend payout ratio is currently 11.49%.

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.