RFG Holdings Inc. Acquires New Stake in Meta Platforms, Inc. (NASDAQ:META)

RFG Holdings Inc. acquired a new stake in Meta Platforms, Inc. (NASDAQ:META) during the 1st quarter, HoldingsChannel reports. The firm acquired 1,054 shares of the social networking company’s stock, valued at approximately $512,000. Meta Platforms accounts for about 0.2% of RFG Holdings Inc.’s investment portfolio, making the stock its 23rd largest holding.

Several other institutional investors have also bought and sold shares of the company. Stone House Investment Management LLC raised its holdings 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 valued at $26,000 after acquiring an additional 75 shares during the period. Beaird Harris Wealth Management LLC raised its holdings in Meta Platforms by 68.9% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after acquiring an additional 42 shares during the period. Quest Partners LLC bought a new stake in Meta Platforms during the 4th quarter valued at $32,000. Clear Investment Research LLC raised its holdings in Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after acquiring an additional 74 shares during the period. Finally, Cranbrook Wealth Management LLC raised its holdings in Meta Platforms by 80.4% during the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after acquiring an additional 45 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insiders Place Their Bets

In other Meta Platforms news, COO Javier Olivan sold 412 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $472.70, for a total value of $194,752.40. Following the completion of the sale, the chief operating officer now directly owns 15,376 shares in the company, valued at $7,268,235.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Meta Platforms news, COO Javier Olivan sold 412 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $472.70, for a total transaction of $194,752.40. Following the completion of the transaction, the chief operating officer now owns 15,376 shares of the company’s stock, valued at $7,268,235.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total transaction of $252,164.25. Following the transaction, the insider now directly owns 36,643 shares of the company’s stock, valued at approximately $15,794,965.15. The disclosure for this sale can be found here. Insiders sold 232,607 shares of company stock worth $113,147,760 over the last three months. Company insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on META. BMO Capital Markets reaffirmed a “market perform” rating and issued a $450.00 price target on shares of Meta Platforms in a report on Wednesday, June 12th. JMP Securities reaffirmed a “market outperform” rating and issued a $550.00 price target on shares of Meta Platforms in a report on Monday, April 22nd. Loop Capital decreased their price target on shares of Meta Platforms from $555.00 to $550.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Wedbush decreased their price target on shares of Meta Platforms from $570.00 to $480.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Finally, Rosenblatt Securities upped their price target on shares of Meta Platforms from $520.00 to $562.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $510.05.

Meta Platforms Stock Performance

Meta Platforms stock opened at $513.12 on Thursday. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 1-year low of $274.38 and a 1-year high of $531.49. The firm has a 50-day moving average of $479.18 and a 200-day moving average of $452.22. The firm has a market cap of $1.30 trillion, a P/E ratio of 29.47, a P/E/G ratio of 1.33 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The business had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. Sell-side analysts expect that Meta Platforms, Inc. will post 20.16 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were issued a $0.50 dividend. The ex-dividend date was Friday, June 14th. This represents a $2.00 annualized dividend and a yield of 0.39%. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

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.