Rehmann Capital Advisory Group Has $9.25 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Rehmann Capital Advisory Group trimmed its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 2.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,047 shares of the social networking company's stock after selling 415 shares during the period. Rehmann Capital Advisory Group's holdings in Meta Platforms were worth $9,249,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in META. Norges Bank acquired a new position in Meta Platforms in the 4th quarter valued at about $19,949,512,000. GAMMA Investing LLC boosted 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. Raymond James Financial Inc. purchased a new stake in shares of Meta Platforms during the 4th quarter worth approximately $2,243,603,000. Northern Trust Corp lifted its stake in Meta Platforms by 13.5% in the 4th quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company's stock valued at $13,727,613,000 after buying an additional 2,787,832 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in Meta Platforms by 712.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,537,631 shares of the social networking company's stock valued at $1,462,589,000 after buying an additional 2,225,186 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 22,449 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $636.85, for a total value of $14,296,645.65. Following the transaction, the chief technology officer owned 1,183 shares of the company's stock, valued at approximately $753,393.55. This represents a 94.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Susan J. Li sold 6,874 shares of the business's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the sale, the chief financial officer directly owned 70,040 shares in the company, valued at approximately $46,181,574.40. This trade represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 153,764 shares of company stock valued at $105,721,208. Corporate insiders own 13.61% of the company's stock.

Meta Platforms Stock Performance

Shares of NASDAQ META traded down $1.50 during midday trading on Thursday, hitting $701.41. 11,776,575 shares of the company's stock were exchanged, compared to its average volume of 14,365,357. The firm has a market cap of $1.76 trillion, a P/E ratio of 27.36, a PEG ratio of 1.72 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, Inc. has a twelve month low of $442.65 and a twelve month high of $747.90. The stock's 50 day moving average price is $683.85 and its 200-day moving average price is $637.15.

Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results 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. The firm had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The firm's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.71 earnings per share. Equities research analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders 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 annualized dividend and a dividend yield of 0.30%. Meta Platforms's dividend payout ratio is currently 8.19%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on META shares. Bank of America increased their target price on Meta Platforms from $690.00 to $765.00 and gave the company a "buy" rating in a report on Thursday, July 10th. Raymond James Financial reduced their target price on Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating on the stock in a report on Thursday, May 1st. Scotiabank reduced their target price on Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating on the stock in a report on Monday, April 21st. Royal Bank Of Canada restated an "outperform" rating and set a $740.00 price objective on shares of Meta Platforms in a research note on Thursday, May 1st. Finally, KeyCorp lifted their target price on Meta Platforms from $655.00 to $800.00 and gave the stock an "overweight" rating in a research report on Thursday. Five investment analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms presently has a consensus rating of "Moderate Buy" and an average target price of $736.05.

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.