RPg Family Wealth Advisory LLC Sells 2,768 Shares of Meta Platforms, Inc. $META

Key Points

• RPg Family Wealth Advisory LLC cut its Meta Platforms stake by 19% in the fourth quarter, selling 2,768 shares and leaving it with 11,763 shares worth about $7.77 million.
• Meta recently reported strong quarterly results, with EPS of $10.44 beating estimates and revenue rising 33.1% year over year to $56.31 billion.
• The company is still drawing positive analyst attention despite some target cuts, with MarketBeat showing an average rating of “Moderate Buy” and an average price target of $840.60.

RPg Family Wealth Advisory LLC decreased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 19.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,763 shares of the social networking company's stock after selling 2,768 shares during the quarter. Meta Platforms comprises approximately 1.7% of RPg Family Wealth Advisory LLC's portfolio, making the stock its 23rd biggest holding. RPg Family Wealth Advisory LLC's holdings in Meta Platforms were worth $7,765,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Westchester Capital Management Inc. purchased a new position in shares of Meta Platforms during the 3rd quarter valued at $26,000. RHL Group LLC purchased a new position in shares of Meta Platforms during the 4th quarter valued at $28,000. Strategic Wealth Advisors LLC purchased a new position in shares of Meta Platforms during the 4th quarter valued at $29,000. Key Capital Management INC purchased a new position in shares of Meta Platforms during the 4th quarter valued at $48,000. Finally, Entrust Financial LLC purchased a new position in shares of Meta Platforms during the 4th quarter valued at $48,000. Institutional investors own 79.91% of the company's stock.

Key Headlines Impacting Meta Platforms

Here are the key news stories impacting Meta Platforms this week:

• Positive Sentiment: Meta is expanding its AI infrastructure globally, including a new AI-enabled data center partnership in India with Reliance Industries, reinforcing confidence in its long-term artificial intelligence strategy.
• Positive Sentiment: The company launched Instagram Plus globally, an optional subscription product that could help diversify revenue beyond advertising.
• Positive Sentiment: Analysts and commentary from Morgan Stanley, Zacks, and others continued to describe Meta as a high-quality growth and compounder stock, with recent earnings still viewed as strong.

Meta Platforms Stock Down 0.3%

Shares of NASDAQ:META opened at $566.98 on Friday. Meta Platforms, Inc. has a 52-week low of $520.26 and a 52-week high of $796.25. The firm has a fifty day moving average of $621.15 and a 200 day moving average of $635.89. The firm has a market capitalization of $1.43 trillion, a PE ratio of 20.61, a price-to-earnings-growth ratio of 1.01 and a beta of 1.23. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.35 and a current ratio of 2.35.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results on Wednesday, April 29th. The social networking company reported $10.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.67 by $3.77. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. The company had revenue of $56.31 billion during the quarter, compared to analyst estimates of $55.56 billion. During the same period in the previous year, the business earned $6.43 earnings per share. The firm's quarterly revenue was up 33.1% compared to the same quarter last year. As a group, research analysts anticipate that Meta Platforms, Inc. will post 29.35 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Monday, June 15th will be given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, June 15th. Meta Platforms's dividend payout ratio is presently 7.63%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 9,195 shares of the company's stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $607.84, for a total transaction of $5,589,088.80. Following the completion of the sale, the chief financial officer directly owned 13,186 shares in the company, valued at $8,014,978.24. This represents a 41.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Curtis J. Mahoney sold 2,079 shares of the company's stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $609.92, for a total transaction of $1,268,023.68. Following the sale, the insider owned 1,118 shares of the company's stock, valued at approximately $681,890.56. The trade was a 65.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 41,305 shares of company stock valued at $25,567,928. 13.53% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

META has been the subject of a number of recent analyst reports. Bank of America reduced their price target on shares of Meta Platforms from $885.00 to $820.00 and set a "buy" rating for the company in a research report on Monday, April 20th. Morgan Stanley reduced their price target on shares of Meta Platforms from $825.00 to $775.00 and set an "overweight" rating for the company in a research report on Monday, March 30th. Stifel Nicolaus reduced their price target on shares of Meta Platforms from $805.00 to $780.00 and set a "buy" rating for the company in a research report on Friday, May 1st. Cantor Fitzgerald reduced their price target on shares of Meta Platforms from $850.00 to $750.00 and set an "overweight" rating for the company in a research report on Thursday, April 30th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Meta Platforms in a research report on Friday, March 27th. Three analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Meta Platforms currently has an average rating of "Moderate Buy" and an average target price of $840.60.

Meta Platforms Profile

Meta Platforms, Inc NASDAQ: META, formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta's core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

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