RWQ Financial Management Services Inc. trimmed its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 3.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,262 shares of the social networking company's stock after selling 1,733 shares during the period. Meta Platforms makes up 19.2% of RWQ Financial Management Services Inc.'s investment portfolio, making the stock its biggest holding. RWQ Financial Management Services Inc.'s holdings in Meta Platforms were worth $28,969,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Brighton Jones LLC grew its position in shares of Meta Platforms by 1.7% during the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock valued at $20,230,000 after purchasing an additional 570 shares in the last quarter. Revolve Wealth Partners LLC grew its position in shares of Meta Platforms by 10.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company's stock valued at $5,537,000 after purchasing an additional 875 shares in the last quarter. Bank Pictet & Cie Europe AG grew its position in shares of Meta Platforms by 3.5% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 221,459 shares of the social networking company's stock valued at $129,666,000 after purchasing an additional 7,587 shares in the last quarter. Highview Capital Management LLC DE grew its position in shares of Meta Platforms by 3.7% during the 4th quarter. Highview Capital Management LLC DE now owns 6,189 shares of the social networking company's stock valued at $3,624,000 after purchasing an additional 218 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Meta Platforms during the 4th quarter valued at $2,243,603,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Meta Platforms
In related news, Director Robert M. Kimmitt sold 465 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $723.08, for a total value of $336,232.20. Following the sale, the director owned 9,342 shares in the company, valued at approximately $6,755,013.36. This trade represents a 4.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Javier Olivan sold 517 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $706.41, for a total transaction of $365,213.97. Following the completion of the sale, the chief operating officer owned 6,302 shares in the company, valued at $4,451,795.82. This represents a 7.58% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 152,954 shares of company stock worth $105,433,784. Company insiders own 13.61% of the company's stock.
Meta Platforms Stock Up 0.6%
Shares of NASDAQ META traded up $4.37 during midday trading on Thursday, hitting $717.95. The stock had a trading volume of 6,940,197 shares, compared to its average volume of 15,476,063. The business's 50 day moving average is $689.62 and its 200-day moving average is $640.33. The company has a market cap of $1.81 trillion, a P/E ratio of 28.01, a PEG ratio of 1.71 and a beta of 1.28. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $747.90. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16.
Meta Platforms (NASDAQ:META - Get Free Report) last issued its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.33 by $1.10. The firm had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The business's revenue was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.71 earnings per share. As a group, analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.
Meta Platforms Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms's dividend payout ratio is currently 8.19%.
Analyst Ratings Changes
META has been the subject of a number of recent analyst reports. Raymond James Financial reduced their price target on shares of Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating for the company in a research report on Thursday, May 1st. Wells Fargo & Company boosted their price target on shares of Meta Platforms from $664.00 to $783.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. KeyCorp lifted their price objective on shares of Meta Platforms from $655.00 to $800.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Rosenblatt Securities lifted their price objective on shares of Meta Platforms from $846.00 to $918.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Finally, Stifel Nicolaus lifted their price objective on shares of Meta Platforms from $655.00 to $845.00 and gave the stock a "buy" rating in a report on Tuesday. Five research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $752.33.
Get Our Latest Research Report on META
Meta Platforms Profile
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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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