Allen Capital Group LLC Has $8.02 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Allen Capital Group LLC raised its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,703 shares of the social networking company’s stock after purchasing an additional 450 shares during the quarter. Meta Platforms accounts for 1.0% of Allen Capital Group LLC’s portfolio, making the stock its 28th largest holding. Allen Capital Group LLC’s holdings in Meta Platforms were worth $8,023,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of META. Lindenwold Advisors INC lifted its position in Meta Platforms by 0.3% during the third quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock valued at $3,388,000 after purchasing an additional 17 shares during the last quarter. Insight Wealth Strategies LLC lifted its holdings in shares of Meta Platforms by 1.6% during the 4th quarter. Insight Wealth Strategies LLC now owns 1,067 shares of the social networking company’s stock worth $625,000 after acquiring an additional 17 shares during the last quarter. Steigerwald Gordon & Koch Inc. grew its position in Meta Platforms by 0.6% in the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 2,680 shares of the social networking company’s stock worth $1,569,000 after acquiring an additional 17 shares in the last quarter. Cherrydale Wealth Management LLC increased its stake in Meta Platforms by 0.5% in the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock valued at $2,199,000 after acquiring an additional 18 shares during the last quarter. Finally, Alliance Wealth Advisors LLC raised its position in Meta Platforms by 0.7% during the third quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock valued at $1,595,000 after purchasing an additional 18 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Insider Activity at Meta Platforms

In related news, insider Nicholas Clegg sold 7,296 shares of Meta Platforms stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $553.48, for a total value of $4,038,190.08. Following the completion of the sale, the insider now directly owns 38,695 shares in the company, valued at approximately $21,416,908.60. This trade represents a 15.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $562.77, for a total transaction of $232,424.01. Following the completion of the sale, the chief operating officer now owns 19,579 shares in the company, valued at $11,018,473.83. This represents a 2.07 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 661,804 shares of company stock valued at $407,745,741. 13.71% of the stock is owned by insiders.

Meta Platforms Price Performance

META stock opened at $689.18 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The firm has a 50 day moving average price of $613.60 and a 200-day moving average price of $567.04. Meta Platforms, Inc. has a 52-week low of $387.10 and a 52-week high of $710.79. The firm has a market capitalization of $1.74 trillion, a price-to-earnings ratio of 28.81, a PEG ratio of 1.35 and a beta of 1.19.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a return on equity of 39.74% and a net margin of 37.91%. During the same quarter in the previous year, the business earned $5.33 earnings per share. Equities research analysts forecast that Meta Platforms, Inc. will post 25.44 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s payout ratio is 8.36%.

Analyst Ratings Changes

META has been the topic of several recent research reports. Robert W. Baird increased their price objective on Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a research report on Thursday. Pivotal Research increased their price target on shares of Meta Platforms from $800.00 to $875.00 and gave the company a “buy” rating in a research report on Thursday. JMP Securities reaffirmed a “market outperform” rating and issued a $750.00 price objective on shares of Meta Platforms in a research note on Monday, January 27th. Jefferies Financial Group lifted their target price on shares of Meta Platforms from $675.00 to $715.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, The Goldman Sachs Group upped their price target on shares of Meta Platforms from $688.00 to $765.00 and gave the company a “buy” rating in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $710.83.

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.