Meta Platforms, Inc. (NASDAQ:META) Stake Lifted by Allen Investment Management LLC

Allen Investment Management LLC boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 15.5% during the 1st quarter, HoldingsChannel reports. The firm owned 763,147 shares of the social networking company’s stock after purchasing an additional 102,540 shares during the period. Meta Platforms accounts for approximately 5.1% of Allen Investment Management LLC’s investment portfolio, making the stock its 7th biggest holding. Allen Investment Management LLC’s holdings in Meta Platforms were worth $439,847,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of META. Price T Rowe Associates Inc. MD grew its stake in shares of Meta Platforms by 2.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company’s stock valued at $24,777,282,000 after purchasing an additional 1,049,121 shares during the last quarter. Capital World Investors lifted its holdings in shares of Meta Platforms by 2.9% in the 4th quarter. Capital World Investors now owns 40,317,105 shares of the social networking company’s stock valued at $23,606,338,000 after buying an additional 1,141,355 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Meta Platforms by 67,172.9% in the 1st quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company’s stock valued at $13,517,178,000 after buying an additional 23,417,803 shares during the period. Northern Trust Corp lifted its holdings in shares of Meta Platforms by 13.5% in the 4th quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company’s stock valued at $13,727,613,000 after buying an additional 2,787,832 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Meta Platforms by 2.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,007,308 shares of the social networking company’s stock valued at $7,030,399,000 after buying an additional 280,357 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Stock Performance

Shares of NASDAQ:META opened at $695.21 on Thursday. The firm has a market capitalization of $1.75 trillion, a PE ratio of 27.11, a P/E/G ratio of 1.68 and a beta of 1.28. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66. The business has a 50-day moving average of $696.48 and a two-hundred day moving average of $643.47. Meta Platforms, Inc. has a 12 month low of $450.80 and a 12 month high of $747.90.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, July 30th. The social networking company reported $7.14 EPS for the quarter, topping the consensus estimate of $5.75 by $1.39. The company had revenue of $47.52 billion during the quarter, compared to analyst estimates of $44.55 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The firm’s revenue was up 21.6% on a year-over-year basis. During the same period in the prior year, the firm posted $5.16 earnings per share. As a group, research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were paid a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.30%. Meta Platforms’s dividend payout ratio is presently 8.19%.

Insider Transactions at Meta Platforms

In other news, Director Robert M. Kimmitt sold 465 shares of the stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $723.08, for a total value of $336,232.20. Following the completion of the sale, the director owned 9,342 shares in the company, valued at approximately $6,755,013.36. This trade represents a 4.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jennifer Newstead sold 519 shares of the stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $716.10, for a total value of $371,655.90. Following the completion of the sale, the insider owned 26,069 shares of the company’s stock, valued at approximately $18,668,010.90. This trade represents a 1.95% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 152,461 shares of company stock valued at $105,335,225. Insiders own 13.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on META shares. Pivotal Research reduced their price target on Meta Platforms from $875.00 to $830.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Guggenheim reaffirmed a “buy” rating and set a $800.00 price objective (up from $725.00) on shares of Meta Platforms in a report on Monday. TD Securities reduced their price objective on Meta Platforms from $725.00 to $700.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Piper Sandler reaffirmed an “overweight” rating and set a $808.00 price objective (up from $650.00) on shares of Meta Platforms in a report on Friday, June 27th. Finally, The Goldman Sachs Group lifted their price objective on Meta Platforms from $685.00 to $690.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Five analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and an average target price of $754.07.

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.