Meta Platforms, Inc. (NASDAQ:META) Shares Sold by RWA Wealth Partners LLC

RWA Wealth Partners LLC trimmed its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 2.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,068 shares of the social networking company's stock after selling 1,291 shares during the period. RWA Wealth Partners LLC's holdings in Meta Platforms were worth $29,316,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Meta Platforms in the fourth quarter worth approximately $19,949,512,000. Proficio Capital Partners LLC grew its holdings in shares of Meta Platforms by 78,471.1% during the fourth quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company's stock worth $3,658,713,000 after buying an additional 6,240,810 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Meta Platforms during the fourth quarter worth $2,243,603,000. Arrowstreet Capital Limited Partnership raised its position in shares of Meta Platforms by 27.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 8,901,521 shares of the social networking company's stock valued at $5,211,967,000 after buying an additional 1,892,509 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Meta Platforms by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company's stock worth $111,948,344,000 after buying an additional 1,502,553 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company's stock.

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Meta Platforms Price Performance

META traded down $0.38 on Monday, hitting $576.36. 21,103,853 shares of the company were exchanged, compared to its average volume of 14,265,832. Meta Platforms, Inc. has a fifty-two week low of $414.50 and a fifty-two week high of $740.91. The firm has a market capitalization of $1.46 trillion, a P/E ratio of 24.10, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23. The business's fifty day moving average is $655.23 and its 200 day moving average is $609.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) 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 in the prior year, the company earned $5.33 EPS. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Increases Dividend

The business also recently announced 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 was Friday, March 14th. This is a boost from Meta Platforms's previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a dividend yield of 0.36%. Meta Platforms's dividend payout ratio (DPR) is currently 8.78%.

Insider Activity at Meta Platforms

In related news, insider Jennifer Newstead sold 921 shares of the firm's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $627.05, for a total transaction of $577,513.05. Following the completion of the sale, the insider now directly owns 31,182 shares of the company's stock, valued at approximately $19,552,673.10. This trade represents a 2.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Javier Olivan sold 608 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $614.97, for a total value of $373,901.76. Following the transaction, the chief operating officer now owns 6,838 shares of the company's stock, valued at approximately $4,205,164.86. This trade represents a 8.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 584,410 shares of company stock worth $386,031,454. 13.71% of the stock is owned by company insiders.

Analysts Set New Price Targets

META has been the topic of several analyst reports. Wells Fargo & Company lifted their price target on shares of Meta Platforms from $685.00 to $752.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Benchmark upgraded Meta Platforms from a "hold" rating to a "buy" rating and set a $820.00 price target for the company in a report on Thursday, January 30th. BMO Capital Markets raised their price objective on Meta Platforms from $530.00 to $610.00 and gave the stock a "market perform" rating in a research report on Thursday, January 30th. Barclays lifted their price target on shares of Meta Platforms from $630.00 to $705.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Finally, Raymond James restated a "strong-buy" rating and issued a $800.00 price objective (up from $725.00) on shares of Meta Platforms 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 issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $718.55.

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.