Advisory Resource Group Decreases Holdings in Meta Platforms, Inc. (NASDAQ:META)

by · The Markets Daily

Advisory Resource Group reduced its position in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 1.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,165 shares of the social networking company’s stock after selling 58 shares during the quarter. Advisory Resource Group’s holdings in Meta Platforms were worth $2,384,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. International Assets Investment Management LLC grew its stake in shares of Meta Platforms by 57,001.5% during the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after acquiring an additional 9,500,444 shares during the last quarter. Integrated Investment Consultants LLC boosted its stake in Meta Platforms by 61,769.3% in the 3rd quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock worth $2,365,820,000 after purchasing an additional 4,126,190 shares in the last quarter. Sustainable Growth Advisers LP purchased a new stake in Meta Platforms during the 2nd quarter worth approximately $595,152,000. World Investment Advisors LLC raised its holdings in shares of Meta Platforms by 4,658.5% in the third quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock worth $520,662,000 after buying an additional 890,434 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Meta Platforms by 1.5% during the third quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock worth $27,470,870,000 after buying an additional 698,884 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Trading Up 0.8 %

NASDAQ META opened at $624.25 on Wednesday. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $1.58 trillion, a P/E ratio of 29.17, a P/E/G ratio of 1.37 and a beta of 1.20. Meta Platforms, Inc. has a 52-week low of $324.56 and a 52-week high of $629.79. The firm has a 50-day moving average price of $581.32 and a 200 day moving average price of $535.09.

Meta Platforms (NASDAQ:META – Get Free Report) last issued its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The business had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. Equities research analysts expect that Meta Platforms, Inc. will post 22.68 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 16th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend is Monday, December 16th. Meta Platforms’s dividend payout ratio (DPR) is 9.42%.

Analysts Set New Price Targets

Several research firms have recently commented on META. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a report on Thursday, October 31st. Jefferies Financial Group upped their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. UBS Group lifted their price objective on Meta Platforms from $690.00 to $719.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Truist Financial upped their target price on Meta Platforms from $570.00 to $650.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Mizuho boosted their price target on Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $635.20.

Get Our Latest Analysis on Meta Platforms

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $595.00, for a total transaction of $538,475.00. Following the completion of the transaction, the insider now owns 36,535 shares of the company’s stock, valued at approximately $21,738,325. This represents a 2.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 35,921 shares of Meta Platforms stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $607.97, for a total transaction of $21,838,890.37. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 164,201 shares of company stock valued at $95,420,559. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Company Profile

(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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