Advisory Resource Group Acquires 2,123 Shares of Meta Platforms, Inc. (NASDAQ:META)

Advisory Resource Group grew its position in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 67.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,294 shares of the social networking company’s stock after buying an additional 2,123 shares during the period. Advisory Resource Group’s holdings in Meta Platforms were worth $1,589,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in META. Stone House Investment Management LLC increased its position in Meta Platforms by 625.0% during the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after buying an additional 75 shares during the period. MBM Wealth Consultants LLC bought a new position in shares of Meta Platforms in the fourth quarter worth $26,000. Stephens Investment Management Group LLC bought a new position in shares of Meta Platforms in the second quarter worth $30,000. Beaird Harris Wealth Management LLC increased its position in shares of Meta Platforms by 68.9% in the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after purchasing an additional 42 shares during the period. Finally, PayPay Securities Corp increased its position in shares of Meta Platforms by 65.2% in the third quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock worth $33,000 after purchasing an additional 43 shares during the period. Institutional investors own 62.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. UBS Group raised their price objective on Meta Platforms from $425.00 to $530.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. The Goldman Sachs Group boosted their target price on shares of Meta Platforms from $414.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Wedbush raised their price target on shares of Meta Platforms from $420.00 to $520.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Mizuho boosted their price objective on shares of Meta Platforms from $470.00 to $575.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Finally, Wells Fargo & Company raised their target price on Meta Platforms from $438.00 to $536.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. Two analysts have rated the stock with a sell rating, two have given a hold rating, forty have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and a consensus price target of $494.53.

Get Our Latest Analysis on META

Meta Platforms Stock Down 0.6 %

Shares of Meta Platforms stock traded down $3.03 during trading hours on Wednesday, reaching $484.02. The company’s stock had a trading volume of 12,691,081 shares, compared to its average volume of 19,886,441. Meta Platforms, Inc. has a one year low of $171.43 and a one year high of $494.36. The company has a market capitalization of $1.23 trillion, a P/E ratio of 32.88, a P/E/G ratio of 1.24 and a beta of 1.15. The stock’s fifty day simple moving average is $406.38 and its two-hundred day simple moving average is $345.83. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.67 and a current ratio of 2.67.

Meta Platforms (NASDAQ:METAGet Free Report) last released its quarterly earnings results on Thursday, February 1st. The social networking company reported $5.33 earnings per share for the quarter, beating analysts’ consensus estimates of $4.82 by $0.51. Meta Platforms had a net margin of 28.98% and a return on equity of 29.48%. The company had revenue of $40.11 billion for the quarter, compared to analyst estimates of $39.12 billion. During the same period last year, the firm earned $3.00 earnings per share. The firm’s revenue was up 24.7% on a year-over-year basis. On average, research analysts forecast that Meta Platforms, Inc. will post 19.94 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 26th. Investors of record on Thursday, February 22nd will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend is Wednesday, February 21st. Meta Platforms’s payout ratio is currently 13.42%.

Insider Activity at Meta Platforms

In related news, CEO Mark Zuckerberg sold 31,493 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $487.52, for a total transaction of $15,353,467.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Meta Platforms news, CFO Susan J. Li sold 10,956 shares of Meta Platforms stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $473.28, for a total value of $5,185,255.68. Following the sale, the chief financial officer now owns 76,398 shares of the company’s stock, valued at $36,157,645.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 31,493 shares of Meta Platforms stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $487.52, for a total transaction of $15,353,467.36. The disclosure for this sale can be found here. Insiders have sold 1,017,086 shares of company stock valued at $409,170,528 over the last ninety days. Corporate insiders own 14.03% of the company’s stock.

About Meta Platforms

(Free Report)

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.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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