NFJ Investment Group LLC lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 1,322.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 31,887 shares of the social networking company’s stock after purchasing an additional 29,645 shares during the period. NFJ Investment Group LLC’s holdings in Meta Platforms were worth $21,048,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Westchester Capital Management Inc. acquired a new stake in shares of Meta Platforms in the third quarter valued at $26,000. RHL Group LLC acquired a new stake in shares of Meta Platforms in the fourth quarter valued at $28,000. Strategic Wealth Advisors LLC acquired a new stake in shares of Meta Platforms in the fourth quarter valued at $29,000. Key Capital Management INC acquired a new stake in shares of Meta Platforms in the fourth quarter valued at $48,000. Finally, Entrust Financial LLC acquired a new stake in shares of Meta Platforms in the fourth quarter valued at $48,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.
Meta Platforms Stock Performance
NASDAQ META opened at $566.98 on Monday. The stock has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 20.61, a PEG ratio of 1.00 and a beta of 1.23. The stock’s 50 day moving average price is $621.15 and its two-hundred day moving average price is $636.05. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.35 and a current ratio of 2.35. Meta Platforms, Inc. has a 52 week low of $520.26 and a 52 week high of $796.25.
Meta Platforms Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Monday, June 15th will be given a dividend of $0.525 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.10 annualized dividend and a dividend yield of 0.4%. Meta Platforms’s payout ratio is 7.63%.
Analysts Set New Price Targets
A number of brokerages recently commented on META. Susquehanna upgraded Meta Platforms from a “positive” rating to a “positive” rating in a research report on Tuesday, June 2nd. UBS Group lowered Meta Platforms from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 2nd. TD Cowen lowered their price objective on Meta Platforms from $820.00 to $800.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Wolfe Research lowered their price objective on Meta Platforms from $850.00 to $800.00 and set an “outperform” rating for the company in a research report on Friday, April 10th. Finally, Tigress Financial lifted their price objective on Meta Platforms from $935.00 to $945.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, March 18th. Three research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $840.60.
View Our Latest Stock Report on Meta Platforms
Insider Buying and Selling
In related news, COO Javier Olivan sold 2,778 shares of the business’s stock in a transaction that occurred on Monday, April 13th. The stock was sold at an average price of $629.45, for a total transaction of $1,748,612.10. Following the transaction, the chief operating officer directly owned 10,557 shares of the company’s stock, valued at approximately $6,645,103.65. The trade was a 20.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Susan J. Li sold 9,195 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $607.84, for a total value of $5,589,088.80. Following the transaction, the chief financial officer directly owned 13,186 shares in the company, valued at $8,014,978.24. The trade was a 41.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 39,170 shares of company stock worth $24,218,565 over the last 90 days. Company insiders own 13.53% of the company’s stock.
Key Stories Impacting Meta Platforms
Here are the key news stories impacting Meta Platforms this week:
- Positive Sentiment: Meta is expanding its AI infrastructure globally, including a new AI-enabled data center partnership in India with Reliance Industries, reinforcing confidence in its long-term artificial intelligence strategy.
- Positive Sentiment: The company launched Instagram Plus globally, an optional subscription product that could help diversify revenue beyond advertising.
- Positive Sentiment: Analysts and commentary from Morgan Stanley, Zacks, and others continued to describe Meta as a high-quality growth and compounder stock, with recent earnings still viewed as strong.
Meta Platforms Company Profile
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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