TFG Advisers LLC Boosts Stake in Meta Platforms, Inc. (NASDAQ:META)

TFG Advisers LLC grew its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 4.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,398 shares of the social networking company’s stock after acquiring an additional 56 shares during the quarter. TFG Advisers LLC’s holdings in Meta Platforms were worth $800,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Gradient Investments LLC grew its holdings in shares of Meta Platforms by 8.9% during the 2nd quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company’s stock worth $36,600,000 after purchasing an additional 5,953 shares during the period. Baillie Gifford & Co. boosted its holdings in Meta Platforms by 14.0% in the 1st quarter. Baillie Gifford & Co. now owns 6,101,501 shares of the social networking company’s stock worth $2,962,767,000 after acquiring an additional 748,076 shares during the period. ERn Financial LLC boosted its holdings in Meta Platforms by 59.0% in the 1st quarter. ERn Financial LLC now owns 1,652 shares of the social networking company’s stock worth $802,000 after acquiring an additional 613 shares during the period. Stanley Laman Group Ltd. boosted its holdings in Meta Platforms by 26.5% in the 2nd quarter. Stanley Laman Group Ltd. now owns 1,678 shares of the social networking company’s stock worth $846,000 after acquiring an additional 352 shares during the period. Finally, Lincoln National Corp boosted its holdings in Meta Platforms by 7.8% in the 1st quarter. Lincoln National Corp now owns 34,790 shares of the social networking company’s stock worth $16,894,000 after acquiring an additional 2,504 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $573.25 on Friday. Meta Platforms, Inc. has a 1-year low of $279.40 and a 1-year high of $602.95. The firm has a market capitalization of $1.45 trillion, a PE ratio of 32.93, a PEG ratio of 1.45 and a beta of 1.22. The business’s 50 day moving average is $551.05 and its 200-day moving average is $510.76. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data 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. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. During the same quarter last year, the firm earned $3.23 EPS. Meta Platforms’s revenue for the quarter was up 22.1% compared to the same quarter last year. Sell-side analysts predict that Meta Platforms, Inc. will post 21.37 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s payout ratio is presently 11.49%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on META shares. Guggenheim upped their price target on Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Sanford C. Bernstein upped their price target on Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a report on Friday. Mizuho upped their price target on Meta Platforms from $600.00 to $650.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Royal Bank of Canada restated an “outperform” rating and issued a $570.00 price target on shares of Meta Platforms in a report on Thursday, August 1st. Finally, Robert W. Baird upped their price target on Meta Platforms from $530.00 to $605.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average target price of $621.63.

Insider Transactions at Meta Platforms

In related news, CEO Mark Zuckerberg sold 84 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $600.00, for a total value of $50,400.00. Following the sale, the chief executive officer now owns 518,424 shares of the company’s stock, valued at $311,054,400. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Mark Zuckerberg sold 84 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $600.00, for a total value of $50,400.00. Following the sale, the chief executive officer now owns 518,424 shares of the company’s stock, valued at $311,054,400. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Javier Olivan sold 412 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $521.48, for a total value of $214,849.76. Following the completion of the sale, the chief operating officer now directly owns 5,147 shares in the company, valued at approximately $2,684,057.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 250,817 shares of company stock valued at $132,547,715. 13.71% of the stock is owned by corporate insiders.

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.