Range Financial Group LLC Purchases 3,176 Shares of Meta Platforms, Inc. (NASDAQ:META)

Range Financial Group LLC raised its position in Meta Platforms, Inc. (NASDAQ:META) by 215.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,649 shares of the social networking company’s stock after acquiring an additional 3,176 shares during the quarter. Meta Platforms makes up 1.3% of Range Financial Group LLC’s portfolio, making the stock its 16th biggest holding. Range Financial Group LLC’s holdings in Meta Platforms were worth $2,722,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC raised its stake in shares of Meta Platforms by 57,001.5% in the third 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 buying an additional 9,500,444 shares during the period. Integrated Investment Consultants LLC raised its stake in shares of Meta Platforms by 61,769.3% in the third quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock worth $2,365,820,000 after buying an additional 4,126,190 shares during the period. Sustainable Growth Advisers LP bought a new position in shares of Meta Platforms in the second quarter worth about $595,152,000. World Investment Advisors LLC raised its stake in shares of Meta Platforms by 4,658.5% in the third quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock worth $520,662,000 after buying an additional 890,434 shares during the period. Finally, Geode Capital Management LLC raised its stake 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. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Down 2.0 %

NASDAQ META traded down $12.31 on Tuesday, reaching $617.89. 12,043,662 shares of the stock traded hands, compared to its average volume of 12,650,010. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The company has a fifty day moving average price of $590.92 and a 200-day moving average price of $550.47. The company has a market cap of $1.56 trillion, a price-to-earnings ratio of 29.10, a PEG ratio of 1.39 and a beta of 1.19. Meta Platforms, Inc. has a 12 month low of $352.05 and a 12 month high of $638.40.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. The business 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%. As a group, research analysts forecast that Meta Platforms, Inc. will post 22.68 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, December 16th. This represents a $2.00 annualized dividend and a yield of 0.32%. Meta Platforms’s dividend payout ratio (DPR) is 9.42%.

Wall Street Analyst Weigh In

META has been the topic of several recent analyst reports. Jefferies Financial Group lifted their target price on Meta Platforms from $675.00 to $715.00 and gave the company a “buy” rating in a research note on Monday. JMP Securities lifted their target price on Meta Platforms from $660.00 to $750.00 and gave the company a “market outperform” rating in a research note on Thursday, January 2nd. The Goldman Sachs Group lifted their target price on Meta Platforms from $555.00 to $636.00 and gave the company a “buy” rating in a research note on Monday, October 14th. BMO Capital Markets lifted their target price on Meta Platforms from $525.00 to $530.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. Finally, Barclays lifted their target price on Meta Platforms from $550.00 to $630.00 and gave the company an “overweight” 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 issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $645.80.

Insider Buying and Selling

In other Meta Platforms news, CAO Aaron Anderson sold 731 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $557.00, for a total transaction of $407,167.00. Following the sale, the chief accounting officer now owns 3,414 shares in the company, valued at approximately $1,901,598. The trade was a 17.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicholas Clegg sold 7,296 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $553.48, for a total value of $4,038,190.08. Following the sale, the insider now owns 38,695 shares in the company, valued at approximately $21,416,908.60. The trade was a 15.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 361,640 shares of company stock worth $219,037,690 in the last ninety days. 13.71% of the stock is owned by 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.