Meta Platforms, Inc. (NASDAQ:META) Holdings Boosted by Rockline Wealth Management LLC

Rockline Wealth Management LLC increased its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 32.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 29,498 shares of the social networking company's stock after buying an additional 7,299 shares during the quarter. Meta Platforms comprises 4.7% of Rockline Wealth Management LLC's holdings, making the stock its 4th largest position. Rockline Wealth Management LLC's holdings in Meta Platforms were worth $17,001,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in META. Millstone Evans Group LLC acquired a new stake in Meta Platforms during the fourth quarter worth $40,000. WealthTrak Capital Management LLC purchased a new position in shares of Meta Platforms during the 4th quarter worth $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Meta Platforms during the 4th quarter worth about $45,000. Stuart Chaussee & Associates Inc. acquired a new stake in shares of Meta Platforms during the 4th quarter worth about $47,000. Finally, Principia Wealth Advisory LLC increased its position in shares of Meta Platforms by 53.6% during the 1st quarter. Principia Wealth Advisory LLC now owns 86 shares of the social networking company's stock worth $50,000 after purchasing an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.

Analyst Ratings Changes

META has been the subject of a number of recent analyst reports. Cantor Fitzgerald raised their price objective on Meta Platforms from $676.00 to $807.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 18th. Oppenheimer raised their price objective on Meta Platforms from $665.00 to $775.00 and gave the stock an "outperform" rating in a research report on Monday, June 16th. Morgan Stanley raised their price objective on Meta Platforms from $615.00 to $650.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Jefferies Financial Group cut their price objective on Meta Platforms from $725.00 to $600.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Finally, DA Davidson cut their price objective on Meta Platforms from $800.00 to $650.00 and set a "buy" rating for the company in a research report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $710.00.

Meta Platforms Stock Performance

Shares of NASDAQ:META opened at $682.35 on Monday. The business's 50-day simple moving average is $618.10 and its 200 day simple moving average is $623.24. The company has a market cap of $1.72 trillion, a P/E ratio of 26.61, a PEG ratio of 1.68 and a beta of 1.26. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.33 by $1.10. The company had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The business's quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter last year, the firm posted $4.71 earnings per share. On average, sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be paid a $0.525 dividend. The ex-dividend date is Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.31%. Meta Platforms's dividend payout ratio (DPR) is presently 8.19%.

Insider Activity

In other news, COO Javier Olivan sold 608 shares of the company's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $488.18, for a total value of $296,813.44. Following the completion of the transaction, the chief operating officer now directly owns 5,622 shares in the company, valued at approximately $2,744,547.96. This represents a 9.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert M. Kimmitt sold 465 shares of the company's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $699.27, for a total transaction of $325,160.55. Following the completion of the transaction, the director now owns 9,807 shares of the company's stock, valued at $6,857,740.89. This trade represents a 4.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 110,423 shares of company stock worth $73,580,663. 13.61% of the stock is currently owned by company insiders.

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.

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