Meta Platforms, Inc. (NASDAQ:META) is RPg Family Wealth Advisory LLC’s 5th Largest Position

RPg Family Wealth Advisory LLC boosted its stake in Meta Platforms, Inc. (NASDAQ:META) by 2.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 17,394 shares of the social networking company’s stock after acquiring an additional 485 shares during the period. Meta Platforms makes up approximately 3.6% of RPg Family Wealth Advisory LLC’s portfolio, making the stock its 5th largest position. RPg Family Wealth Advisory LLC’s holdings in Meta Platforms were worth $10,184,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Howard Capital Management Group LLC raised its stake in Meta Platforms by 17.9% in the 3rd quarter. Howard Capital Management Group LLC now owns 1,652 shares of the social networking company’s stock valued at $946,000 after purchasing an additional 251 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Meta Platforms by 6.5% during the third quarter. Principal Financial Group Inc. now owns 3,368,361 shares of the social networking company’s stock worth $1,928,185,000 after buying an additional 204,412 shares in the last quarter. United Bank raised its position in shares of Meta Platforms by 22.2% in the third quarter. United Bank now owns 5,569 shares of the social networking company’s stock valued at $3,188,000 after buying an additional 1,011 shares during the last quarter. KBC Group NV lifted its stake in shares of Meta Platforms by 16.5% during the third quarter. KBC Group NV now owns 1,976,357 shares of the social networking company’s stock valued at $1,131,347,000 after buying an additional 280,266 shares during the period. Finally, Zions Bancorporation N.A. boosted its position in Meta Platforms by 13.9% during the third quarter. Zions Bancorporation N.A. now owns 29,347 shares of the social networking company’s stock worth $16,799,000 after acquiring an additional 3,575 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Trading Down 0.4 %

META opened at $604.90 on Tuesday. Meta Platforms, Inc. has a 12-month low of $414.50 and a 12-month high of $740.91. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The stock has a market capitalization of $1.53 trillion, a PE ratio of 25.29, a P/E/G ratio of 1.42 and a beta of 1.23. The firm’s fifty day moving average price is $657.51 and its 200 day moving average price is $604.41.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, beating the consensus estimate of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same period last year, the company earned $5.33 earnings per share. As a group, research analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.525 per share. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.10 annualized dividend and a yield of 0.35%. Meta Platforms’s payout ratio is presently 8.78%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. KeyCorp increased their price target on Meta Platforms from $700.00 to $750.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Morgan Stanley raised their price target on Meta Platforms from $600.00 to $660.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. DA Davidson upped their price objective on shares of Meta Platforms from $700.00 to $800.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. JMP Securities reissued a “market outperform” rating and issued a $750.00 target price on shares of Meta Platforms in a research report on Monday, January 27th. Finally, Citigroup boosted their target price on shares of Meta Platforms from $753.00 to $780.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Two equities research 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $719.26.

Insiders Place Their Bets

In other Meta Platforms news, CEO Mark Zuckerberg sold 22,035 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $618.63, for a total value of $13,631,512.05. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Christopher K. Cox sold 20,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $677.71, for a total transaction of $13,554,200.00. Following the transaction, the insider now owns 308,686 shares of the company’s stock, valued at $209,199,589.06. This represents a 6.08 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 653,450 shares of company stock valued at $427,997,036. Company insiders own 13.71% of the company’s stock.

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.