Allen Capital Group LLC Purchases 450 Shares of Meta Platforms, Inc. (NASDAQ:META)

Allen Capital Group LLC increased its position in Meta Platforms, Inc. (NASDAQ:META) by 3.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 13,703 shares of the social networking company’s stock after buying an additional 450 shares during the period. Meta Platforms comprises approximately 1.0% of Allen Capital Group LLC’s holdings, making the stock its 28th largest position. Allen Capital Group LLC’s holdings in Meta Platforms were worth $8,023,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of META. Ballentine Partners LLC raised its stake in Meta Platforms by 1.4% during the 4th quarter. Ballentine Partners LLC now owns 58,218 shares of the social networking company’s stock valued at $34,087,000 after purchasing an additional 808 shares during the period. UMB Bank n.a. lifted its holdings in shares of Meta Platforms by 0.6% in the fourth quarter. UMB Bank n.a. now owns 140,585 shares of the social networking company’s stock worth $82,314,000 after buying an additional 897 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Meta Platforms by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock worth $7,915,451,000 after acquiring an additional 118,298 shares during the last quarter. LS Investment Advisors LLC grew its stake in Meta Platforms by 111.4% during the third quarter. LS Investment Advisors LLC now owns 11,679 shares of the social networking company’s stock valued at $6,686,000 after acquiring an additional 6,155 shares in the last quarter. Finally, Cutter & CO Brokerage Inc. boosted its holdings in shares of Meta Platforms by 0.7% during the 3rd quarter. Cutter & CO Brokerage Inc. now owns 9,735 shares of the social networking company’s stock valued at $5,573,000 after purchasing an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

Shares of META opened at $689.18 on Monday. The firm has a market capitalization of $1.74 trillion, a PE ratio of 28.81, a price-to-earnings-growth ratio of 1.35 and a beta of 1.19. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The company’s fifty day moving average price is $613.60 and its 200-day moving average price is $567.04. Meta Platforms, Inc. has a 1-year low of $387.10 and a 1-year high of $710.79.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, beating the consensus estimate 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 prior year, the firm posted $5.33 EPS. On average, equities research analysts predict that Meta Platforms, Inc. will post 25.44 EPS for the current year.

Meta Platforms Announces Dividend

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

Insiders Place Their Bets

In related news, CAO Aaron Anderson sold 731 shares of Meta Platforms stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $407,167.00. Following the completion of the transaction, the chief accounting officer now owns 3,414 shares in the company, valued at $1,901,598. The trade was a 17.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 35,921 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $607.97, for a total value of $21,838,890.37. The disclosure for this sale can be found here. In the last three months, insiders have sold 661,804 shares of company stock valued at $407,745,741. Company insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on META shares. Roth Mkm lifted their target price on Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. The Goldman Sachs Group increased their target price on Meta Platforms from $688.00 to $765.00 and gave the company a “buy” rating in a research report on Thursday. Monness Crespi & Hardt upped their price target on shares of Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Stifel Nicolaus boosted their target price on shares of Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, JPMorgan Chase & Co. increased their price target on shares of Meta Platforms from $660.00 to $725.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Two research 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 company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $710.83.

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.