Meta Platforms, Inc. (NASDAQ:META) is FCG Investment Co’s 8th Largest Position

FCG Investment Co increased its stake in Meta Platforms, Inc. (NASDAQ:META) by 7.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,210 shares of the social networking company’s stock after buying an additional 604 shares during the period. Meta Platforms comprises about 2.9% of FCG Investment Co’s investment portfolio, making the stock its 8th largest position. FCG Investment Co’s holdings in Meta Platforms were worth $4,807,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in META. Lifestyle Asset Management Inc. lifted its holdings in Meta Platforms by 2.0% during the 4th quarter. Lifestyle Asset Management Inc. now owns 3,020 shares of the social networking company’s stock worth $1,768,000 after buying an additional 59 shares during the last quarter. Yeomans Consulting Group Inc. boosted its holdings in Meta Platforms by 16.2% in the fourth quarter. Yeomans Consulting Group Inc. now owns 625 shares of the social networking company’s stock worth $366,000 after purchasing an additional 87 shares during the period. Spinnaker Investment Group LLC increased its stake in Meta Platforms by 10.9% during the fourth quarter. Spinnaker Investment Group LLC now owns 712 shares of the social networking company’s stock valued at $417,000 after purchasing an additional 70 shares during the last quarter. Key Client Fiduciary Advisors LLC raised its holdings in shares of Meta Platforms by 7.1% during the fourth quarter. Key Client Fiduciary Advisors LLC now owns 2,801 shares of the social networking company’s stock worth $1,640,000 after purchasing an additional 185 shares during the period. Finally, Apeiron RIA LLC bought a new position in shares of Meta Platforms in the 4th quarter worth about $294,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Susquehanna boosted their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “positive” rating in a research report on Thursday, October 31st. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a research report on Thursday, October 31st. Morgan Stanley boosted their price objective on Meta Platforms from $600.00 to $660.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. The Goldman Sachs Group increased their target price on Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, Wells Fargo & Company boosted their price target on shares of Meta Platforms from $641.00 to $685.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $654.20.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $647.49 on Monday. Meta Platforms, Inc. has a 12 month low of $385.66 and a 12 month high of $652.00. 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 cap of $1.63 trillion, a PE ratio of 30.50, a price-to-earnings-growth ratio of 1.18 and a beta of 1.19. The business has a fifty day simple moving average of $601.93 and a 200-day simple moving average of $560.51.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The firm had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 22.96 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were given 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 yield of 0.31%. Meta Platforms’s payout ratio is 9.42%.

Insiders Place Their Bets

In related news, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $618.00, for a total transaction of $559,290.00. Following the completion of the sale, the insider now directly owns 30,200 shares in the company, valued at approximately $18,663,600. This trade represents a 2.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 35,921 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $626.80, for a total value of $22,515,282.80. The disclosure for this sale can be found here. Insiders sold a total of 568,016 shares of company stock worth $346,031,180 in the last quarter. 13.71% of the stock is currently owned by corporate insiders.

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.