Roffman Miller Associates Inc. PA Has $2.63 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Roffman Miller Associates Inc. PA increased its position in Meta Platforms, Inc. (NASDAQ:META) by 1.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,418 shares of the social networking company’s stock after buying an additional 71 shares during the quarter. Roffman Miller Associates Inc. PA’s holdings in Meta Platforms were worth $2,631,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in META. BKM Wealth Management LLC bought a new stake in Meta Platforms in the fourth quarter valued at approximately $191,000. Bruce G. Allen Investments LLC bought a new position in shares of Meta Platforms during the 4th quarter worth approximately $147,000. JGP Wealth Management LLC boosted its holdings in shares of Meta Platforms by 11.8% during the 4th quarter. JGP Wealth Management LLC now owns 1,390 shares of the social networking company’s stock worth $492,000 after buying an additional 147 shares in the last quarter. Bond & Devick Financial Network Inc. bought a new position in shares of Meta Platforms during the 4th quarter worth approximately $212,000. Finally, Kesler Norman & Wride LLC boosted its holdings in shares of Meta Platforms by 99.7% during the 4th quarter. Kesler Norman & Wride LLC now owns 1,492 shares of the social networking company’s stock worth $528,000 after buying an additional 745 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on META. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a report on Monday, July 1st. JPMorgan Chase & Co. cut their price target on Meta Platforms from $535.00 to $480.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. KeyCorp increased their target price on Meta Platforms from $475.00 to $540.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. BNP Paribas started coverage on Meta Platforms in a report on Thursday, May 2nd. They issued an “underperform” rating and a $360.00 target price on the stock. Finally, Wolfe Research started coverage on Meta Platforms in a report on Tuesday. They issued an “outperform” rating and a $620.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $518.50.

Insider Activity at Meta Platforms

In related news, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $431.05, for a total transaction of $252,164.25. Following the completion of the transaction, the insider now owns 36,643 shares in the company, valued at $15,794,965.15. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, COO Javier Olivan sold 412 shares of the company’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $530.81, for a total value of $218,693.72. Following the sale, the chief operating officer now directly owns 6,383 shares of the company’s stock, valued at $3,388,160.23. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $431.05, for a total value of $252,164.25. Following the completion of the sale, the insider now directly owns 36,643 shares in the company, valued at $15,794,965.15. The disclosure for this sale can be found here. Insiders sold a total of 308,979 shares of company stock worth $153,474,852 over the last quarter. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Price Performance

META traded down $21.14 during midday trading on Wednesday, hitting $468.65. The stock had a trading volume of 9,952,080 shares, compared to its average volume of 16,112,193. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. Meta Platforms, Inc. has a 1 year low of $274.38 and a 1 year high of $542.81. The business has a fifty day moving average of $493.60 and a 200 day moving average of $469.47. The company has a market cap of $1.19 trillion, a P/E ratio of 27.04, a price-to-earnings-growth ratio of 1.28 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The firm had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. As a group, equities analysts forecast that Meta Platforms, Inc. will post 20.21 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were issued a dividend of $0.50 per share. The ex-dividend date was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.43%. Meta Platforms’s dividend payout ratio 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.