RBA Wealth Management LLC Acquires 158 Shares of Meta Platforms, Inc. (NASDAQ:META)

RBA Wealth Management LLC increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,141 shares of the social networking company’s stock after purchasing an additional 158 shares during the period. Meta Platforms accounts for 2.1% of RBA Wealth Management LLC’s holdings, making the stock its 15th biggest holding. RBA Wealth Management LLC’s holdings in Meta Platforms were worth $5,269,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of META. Norges Bank bought a new stake in shares of Meta Platforms in the 4th quarter valued at about $19,949,512,000. GAMMA Investing LLC raised its stake in shares of Meta Platforms by 67,172.9% during the 1st quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company’s stock worth $13,517,178,000 after acquiring an additional 23,417,803 shares in the last quarter. Proficio Capital Partners LLC lifted its position in 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 valued at $3,658,713,000 after acquiring an additional 6,240,810 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Meta Platforms in the fourth quarter valued at approximately $2,243,603,000. Finally, Northern Trust Corp boosted its stake in Meta Platforms by 13.5% in the fourth quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company’s stock valued at $13,727,613,000 after acquiring an additional 2,787,832 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Susan J. Li sold 6,874 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total value of $4,532,440.64. Following the completion of the sale, the chief financial officer directly owned 70,040 shares in the company, valued at $46,181,574.40. The trade was a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark Zuckerberg sold 13,793 shares of the company’s stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $701.13, for a total transaction of $9,670,686.09. Following the transaction, the chief executive officer owned 118,279 shares of the company’s stock, valued at $82,928,955.27. This represents a 10.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 153,766 shares of company stock worth $105,135,650. 13.61% of the stock is owned by corporate insiders.

Meta Platforms Stock Performance

META opened at $713.57 on Thursday. The firm has a fifty day moving average price of $651.82 and a 200 day moving average price of $628.50. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $747.90. The stock has a market cap of $1.79 trillion, a P/E ratio of 27.83, a P/E/G ratio of 1.77 and a beta of 1.28. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping analysts’ consensus estimates of $5.33 by $1.10. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The business had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter in the prior year, the firm posted $4.71 earnings per share. The company’s revenue was up 16.1% compared to the same quarter last year. Equities research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were issued a $0.525 dividend. The ex-dividend date was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.29%. Meta Platforms’s payout ratio is 8.19%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on META shares. Benchmark reduced their price target on Meta Platforms from $820.00 to $640.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Stifel Nicolaus upped their target price on Meta Platforms from $628.00 to $655.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Scotiabank lowered their price target on Meta Platforms from $627.00 to $525.00 and set a “sector perform” rating for the company in a report on Monday, April 21st. JMP Securities restated a “market outperform” rating and set a $750.00 price target on shares of Meta Platforms in a research note on Wednesday, April 30th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $740.00 price objective on shares of Meta Platforms in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $719.29.

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.