Floyd Financial Group LLC Makes New $2.80 Million Investment in Meta Platforms, Inc. (NASDAQ:META)

Floyd Financial Group LLC purchased a new stake in Meta Platforms, Inc. (NASDAQ:META) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 4,546 shares of the social networking company’s stock, valued at approximately $2,799,000. Meta Platforms makes up 2.3% of Floyd Financial Group LLC’s investment portfolio, making the stock its 14th biggest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. JDM Financial Group LLC bought a new position in Meta Platforms in the 3rd quarter valued at $30,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Meta Platforms in the third quarter worth $36,000. Avondale Wealth Management purchased a new stake in shares of Meta Platforms in the fourth quarter worth $41,000. Halpern Financial Inc. bought a new stake in Meta Platforms during the third quarter valued at $46,000. Finally, West Financial Advisors LLC purchased a new position in Meta Platforms during the third quarter worth about $49,000. 79.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

META has been the topic of several recent analyst reports. Roth Mkm raised their price target on Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Sanford C. Bernstein increased their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. KeyCorp upped their target price on shares of Meta Platforms from $655.00 to $700.00 and gave the stock an “overweight” rating in a research report on Friday, January 10th. Susquehanna raised their price target on Meta Platforms from $600.00 to $675.00 and gave the company a “positive” rating in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group upped their price objective on Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $650.05.

Insider Buying and Selling

In other news, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $580.65, for a total value of $239,808.45. Following the completion of the transaction, the chief operating officer now owns 11,120 shares of the company’s stock, valued at $6,456,828. The trade was a 3.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Susan J. Li sold 8,951 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $577.16, for a total transaction of $5,166,159.16. Following the sale, the chief financial officer now directly owns 51,591 shares in the company, valued at $29,776,261.56. This trade represents a 14.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 495,682 shares of company stock worth $301,101,199 in the last 90 days. Insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Shares of META stock opened at $617.12 on Thursday. 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 $1.56 trillion, a price-to-earnings ratio of 29.07, a PEG ratio of 1.36 and a beta of 1.19. The business’s fifty day moving average is $595.02 and its 200 day moving average is $554.81. Meta Platforms, Inc. has a twelve month low of $358.61 and a twelve month high of $638.40.

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

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders 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 dividend yield of 0.32%. Meta Platforms’s dividend payout ratio is currently 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.