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

FCG Investment Co grew its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 7.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,210 shares of the social networking company's stock after acquiring an additional 604 shares during the quarter. Meta Platforms accounts for 2.9% of FCG Investment Co's portfolio, making the stock its 8th biggest holding. FCG Investment Co's holdings in Meta Platforms were worth $4,807,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC lifted its holdings 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 worth $5,447,975,000 after acquiring an additional 9,500,444 shares during the last quarter. Integrated Investment Consultants LLC boosted its position in shares of Meta Platforms by 61,769.3% during the third quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company's stock valued at $2,365,820,000 after buying an additional 4,126,190 shares during the period. World Investment Advisors LLC grew its stake in shares of Meta Platforms by 4,658.5% during the third quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company's stock valued at $520,662,000 after buying an additional 890,434 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Meta Platforms by 1.5% in 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. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Meta Platforms by 926.6% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 733,358 shares of the social networking company's stock worth $369,774,000 after acquiring an additional 661,923 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Insider Activity at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 413 shares of the business's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $567.58, for a total transaction of $234,410.54. Following the sale, the chief operating officer now directly owns 10,294 shares in the company, valued at approximately $5,842,668.52. The trade was a 3.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Aaron Anderson sold 731 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $557.00, for a total transaction of $407,167.00. Following the completion of the transaction, the chief accounting officer now owns 3,414 shares of the company's stock, valued at $1,901,598. This trade represents a 17.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 568,016 shares of company stock worth $346,031,180 in the last ninety days. 13.71% of the stock is owned by insiders.

Meta Platforms Stock Up 1.9 %

Shares of META stock traded up $12.39 on Monday, hitting $659.88. The stock had a trading volume of 28,339,333 shares, compared to its average volume of 14,180,466. The stock's 50 day moving average is $601.93 and its 200-day moving average is $560.51. The firm has a market capitalization of $1.67 trillion, a price-to-earnings ratio of 31.08, a P/E/G ratio of 1.18 and a beta of 1.19. Meta Platforms, Inc. has a 52-week low of $387.10 and a 52-week high of $663.87. 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 (NASDAQ:META - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating 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 business had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. As a group, research analysts expect that Meta Platforms, Inc. will post 22.96 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were issued 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 0.30%. Meta Platforms's dividend payout ratio (DPR) is presently 9.42%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on META shares. Mizuho increased their target price on Meta Platforms from $650.00 to $675.00 and gave the stock an "outperform" rating in a research note on Thursday, October 31st. Piper Sandler raised their target price on shares of Meta Platforms from $650.00 to $670.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 10th. KeyCorp lifted their price target on shares of Meta Platforms from $655.00 to $700.00 and gave the company an "overweight" rating in a research note on Friday, January 10th. Hsbc Global Res upgraded Meta Platforms to a "hold" rating in a report on Thursday, October 24th. Finally, TD Cowen lifted their price objective on Meta Platforms from $600.00 to $675.00 and gave the company a "buy" rating in a report on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, four have assigned 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 data from MarketBeat.com, Meta Platforms has a consensus rating of "Moderate Buy" and an average price target of $654.20.

Meta Platforms Profile

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.