Allen Capital Group LLC Has $7.59 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

Allen Capital Group LLC cut its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,253 shares of the social networking company’s stock after selling 370 shares during the quarter. Meta Platforms makes up approximately 0.9% of Allen Capital Group LLC’s portfolio, making the stock its 25th biggest position. Allen Capital Group LLC’s holdings in Meta Platforms were worth $7,586,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of META. Jennison Associates LLC raised its position in shares of Meta Platforms by 1.9% in the 3rd quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock worth $8,266,531,000 after acquiring an additional 263,063 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Meta Platforms by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock valued at $7,915,451,000 after purchasing an additional 118,298 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Meta Platforms by 57,001.5% in the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock valued at $5,447,975,000 after purchasing an additional 9,500,444 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Meta Platforms by 2.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,754,450 shares of the social networking company’s stock valued at $3,911,029,000 after purchasing an additional 208,677 shares during the period. Finally, Swiss National Bank lifted its stake in shares of Meta Platforms by 0.3% in the 3rd quarter. Swiss National Bank now owns 6,504,600 shares of the social networking company’s stock valued at $3,723,493,000 after purchasing an additional 17,100 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total transaction of $17,101,342.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 84 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were 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 in the company, valued at $311,054,400. The trade was a 0.02 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 152,141 shares of company stock worth $83,390,497. Corporate insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $670.00 price target on shares of Meta Platforms in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft upped their price target on Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Robert W. Baird increased their price objective on Meta Platforms from $605.00 to $630.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Wells Fargo & Company lowered their price objective on Meta Platforms from $652.00 to $641.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. Finally, Mizuho increased their price objective on Meta Platforms from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average target price of $634.10.

Meta Platforms Trading Down 0.7 %

Shares of META stock opened at $559.14 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. Meta Platforms, Inc. has a 52-week low of $313.66 and a 52-week high of $602.95. The company has a market capitalization of $1.41 trillion, a PE ratio of 26.34, a price-to-earnings-growth ratio of 1.25 and a beta of 1.22. The business’s fifty day moving average is $572.74 and its 200 day moving average is $524.71.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data 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. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The company had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. On average, equities research analysts anticipate that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.36%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

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.