RWA Wealth Partners LLC Reduces Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

RWA Wealth Partners LLC reduced its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.5% during the fourth quarter, Holdings Channel reports. The firm owned 50,068 shares of the social networking company’s stock after selling 1,291 shares during the quarter. RWA Wealth Partners LLC’s holdings in Meta Platforms were worth $29,316,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Schroder Investment Management Group grew its stake in Meta Platforms by 12.8% in the fourth quarter. Schroder Investment Management Group now owns 4,309,806 shares of the social networking company’s stock worth $2,523,435,000 after purchasing an additional 490,577 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Meta Platforms by 27.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 8,901,521 shares of the social networking company’s stock worth $5,211,967,000 after buying an additional 1,892,509 shares during the period. American Money Management LLC increased its stake in shares of Meta Platforms by 141.4% in the 4th quarter. American Money Management LLC now owns 11,868 shares of the social networking company’s stock worth $6,949,000 after acquiring an additional 6,952 shares in the last quarter. Okabena Investment Services Inc. lifted its position in Meta Platforms by 19.7% during the 4th quarter. Okabena Investment Services Inc. now owns 1,466 shares of the social networking company’s stock valued at $858,000 after acquiring an additional 241 shares during the period. Finally, Allianz SE bought a new stake in Meta Platforms during the fourth quarter worth about $59,219,000. 79.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

META has been the subject of several recent research reports. Susquehanna lifted their target price on shares of Meta Platforms from $675.00 to $800.00 and gave the company a “positive” rating in a report on Thursday, January 30th. Robert W. Baird raised their price target on shares of Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. JMP Securities reissued a “market outperform” rating and set a $750.00 price objective on shares of Meta Platforms in a report on Monday, January 27th. Benchmark raised shares of Meta Platforms from a “hold” rating to a “buy” rating and set a $820.00 target price for the company in a research report on Thursday, January 30th. Finally, Argus set a $775.00 price target on Meta Platforms in a report on Tuesday, February 4th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $718.31.

Meta Platforms Price Performance

Meta Platforms stock opened at $576.74 on Friday. Meta Platforms, Inc. has a 52-week low of $414.50 and a 52-week high of $740.91. The company has a market cap of $1.46 trillion, a price-to-earnings ratio of 24.11, a PEG ratio of 1.42 and a beta of 1.23. The firm’s fifty day moving average is $655.23 and its 200 day moving average is $609.21. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, topping 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 quarter in the previous year, the company earned $5.33 EPS. Sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Friday, March 14th were given a $0.525 dividend. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a yield of 0.36%. Meta Platforms’s dividend payout ratio (DPR) is currently 8.78%.

Insider Buying and Selling at Meta Platforms

In other news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $591.76, for a total transaction of $535,542.80. Following the completion of the sale, the insider now directly owns 32,915 shares in the company, valued at approximately $19,477,780.40. This trade represents a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christopher K. Cox sold 20,000 shares of the firm’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 completion of the transaction, the insider now directly owns 308,686 shares in the company, valued at $209,199,589.06. This represents a 6.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 584,823 shares of company stock worth $386,274,777 over the last quarter. Insiders own 13.71% of the company’s stock.

Meta Platforms Company 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.