RWQ Financial Management Services Inc. trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 30.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,995 shares of the social networking company's stock after selling 22,937 shares during the quarter. Meta Platforms makes up about 11.9% of RWQ Financial Management Services Inc.'s investment portfolio, making the stock its largest holding. RWQ Financial Management Services Inc.'s holdings in Meta Platforms were worth $30,444,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Seelaus Asset Management LLC raised its holdings in Meta Platforms by 0.9% during the 4th quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company's stock worth $960,000 after purchasing an additional 15 shares during the last quarter. Meredith Wealth Planning increased its position in shares of Meta Platforms by 0.8% during the fourth quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company's stock worth $1,097,000 after buying an additional 15 shares during the period. Maiden Cove Capital LLC raised its stake in Meta Platforms by 3.2% during the fourth quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company's stock worth $282,000 after buying an additional 15 shares during the last quarter. Stephens Consulting LLC lifted its holdings in Meta Platforms by 5.3% in the fourth quarter. Stephens Consulting LLC now owns 317 shares of the social networking company's stock valued at $186,000 after buying an additional 16 shares during the period. Finally, VeraBank N.A. boosted its position in Meta Platforms by 0.8% during the fourth quarter. VeraBank N.A. now owns 1,954 shares of the social networking company's stock valued at $1,144,000 after acquiring an additional 16 shares during the last quarter. Institutional investors own 79.91% of the company's stock.
Meta Platforms Trading Down 2.4 %
NASDAQ:META traded down $15.33 during trading hours on Wednesday, hitting $610.98. The company had a trading volume of 12,592,026 shares, compared to its average volume of 13,819,908. 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 50-day moving average price of $656.24 and a 200 day moving average price of $608.00. The company has a market capitalization of $1.55 trillion, a PE ratio of 25.54, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23. Meta Platforms, Inc. has a 52 week low of $414.50 and a 52 week high of $740.91.
Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating analysts' consensus estimates of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same quarter in the previous year, the firm posted $5.33 EPS. On average, equities research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.
Meta Platforms Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Meta Platforms's previous quarterly dividend of $0.50. Meta Platforms's dividend payout ratio is 8.78%.
Insider Buying and Selling at Meta Platforms
In other Meta Platforms news, COO Javier Olivan sold 413 shares of the firm's stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $589.16, for a total transaction of $243,323.08. Following the completion of the sale, the chief operating officer now directly owns 17,514 shares in the company, valued at approximately $10,318,548.24. This trade represents a 2.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 55,589 shares of Meta Platforms stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $717.72, for a total transaction of $39,897,337.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 585,605 shares of company stock valued at $386,710,448. Corporate insiders own 13.71% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on the company. The Goldman Sachs Group lifted their price objective on Meta Platforms from $688.00 to $765.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. Citigroup lifted their target price on Meta Platforms from $753.00 to $780.00 and gave the stock a "buy" rating in a report on Thursday, January 30th. UBS Group increased their price target on Meta Platforms from $736.00 to $786.00 and gave the stock a "buy" rating in a report on Thursday, January 30th. Robert W. Baird lifted their price objective on shares of Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Finally, Rosenblatt Securities reissued a "buy" rating and set a $811.00 target price on shares of Meta Platforms in a research note on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $718.31.
Read Our Latest Analysis on Meta Platforms
Meta Platforms Profile
(
Free Report)
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.
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