Rehmann Capital Advisory Group Buys 5,268 Shares of Meta Platforms, Inc. (NASDAQ:META)

Rehmann Capital Advisory Group boosted its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 47.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,462 shares of the social networking company's stock after acquiring an additional 5,268 shares during the quarter. Rehmann Capital Advisory Group's holdings in Meta Platforms were worth $9,639,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Ballentine Partners LLC grew its holdings in Meta Platforms by 1.4% during the 4th quarter. Ballentine Partners LLC now owns 58,218 shares of the social networking company's stock worth $34,087,000 after acquiring an additional 808 shares during the last quarter. UMB Bank n.a. lifted its position in Meta Platforms by 0.6% during the 4th quarter. UMB Bank n.a. now owns 140,585 shares of the social networking company's stock valued at $82,314,000 after purchasing an additional 897 shares during the period. Brueske Advisory Services LLC acquired a new position in Meta Platforms during the 4th quarter valued at about $459,000. Apollon Financial LLC lifted its position in Meta Platforms by 11.1% during the 4th quarter. Apollon Financial LLC now owns 1,479 shares of the social networking company's stock valued at $866,000 after purchasing an additional 148 shares during the period. Finally, Kovitz Investment Group Partners LLC lifted its position in Meta Platforms by 255.9% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,709,694 shares of the social networking company's stock valued at $1,001,044,000 after purchasing an additional 1,229,350 shares during the period. Institutional investors own 79.91% of the company's stock.

Meta Platforms Stock Up 0.9 %

Shares of META stock opened at $554.44 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The firm's 50-day moving average is $581.11 and its 200-day moving average is $604.05. The stock has a market cap of $1.40 trillion, a price-to-earnings ratio of 23.18, a PEG ratio of 1.42 and a beta of 1.28. Meta Platforms, Inc. has a 52-week low of $427.11 and a 52-week high of $740.91.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same period in the previous year, the business posted $5.33 EPS. Sell-side analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.38%. This is a boost from Meta Platforms's previous quarterly dividend of $0.50. The ex-dividend date was Friday, March 14th. Meta Platforms's dividend payout ratio is presently 8.78%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on META. Barclays upped their target price on shares of Meta Platforms from $630.00 to $705.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Morgan Stanley cut their target price on shares of Meta Platforms from $660.00 to $615.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Pivotal Research upped their target price on shares of Meta Platforms from $800.00 to $875.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. Susquehanna upped their target price on shares of Meta Platforms from $675.00 to $800.00 and gave the company a "positive" rating in a research report on Thursday, January 30th. Finally, Guggenheim cut their price target on shares of Meta Platforms from $750.00 to $675.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms has an average rating of "Moderate Buy" and an average target price of $681.95.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 921 shares of the stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $491.87, for a total value of $453,012.27. Following the transaction, the insider now directly owns 27,498 shares of the company's stock, valued at $13,525,441.26. This represents a 3.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 12,975 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $696.39, for a total transaction of $9,035,660.25. Following the completion of the transaction, the chief executive officer now directly owns 210,971 shares in the company, valued at approximately $146,918,094.69. This represents a 5.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 248,463 shares of company stock valued at $175,403,314 in the last three months. 13.71% 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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