RKL Wealth Management LLC Increases Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

RKL Wealth Management LLC lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 6,260 shares of the social networking company’s stock after buying an additional 185 shares during the quarter. RKL Wealth Management LLC’s holdings in Meta Platforms were worth $3,584,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. International Assets Investment Management LLC raised its holdings in Meta Platforms by 57,001.5% during the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after purchasing an additional 9,500,444 shares during the last quarter. Capital Research Global Investors raised its stake in Meta Platforms by 14.5% in the 1st quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock valued at $16,799,612,000 after purchasing an additional 4,379,826 shares during the last quarter. Sustainable Growth Advisers LP acquired a new stake in shares of Meta Platforms during the 2nd quarter worth about $595,152,000. Vanguard Group Inc. grew its stake in Meta Platforms by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock worth $90,891,055,000 after acquiring an additional 831,047 shares during the period. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Meta Platforms by 30.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 3,411,009 shares of the social networking company’s stock worth $1,656,318,000 after purchasing an additional 788,131 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Price Performance

Meta Platforms stock opened at $584.82 on Wednesday. The business has a 50 day simple moving average of $563.02 and a 200 day simple moving average of $517.29. Meta Platforms, Inc. has a one year low of $313.66 and a one year high of $602.95. The company has a market capitalization of $1.48 trillion, a PE ratio of 27.55, a price-to-earnings-growth ratio of 1.30 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The company had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. On average, sell-side analysts forecast that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. Meta Platforms’s payout ratio is 9.42%.

Insider Buying and Selling at Meta Platforms

In related news, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $529.09, for a total transaction of $8,836,861.18. Following the completion of the sale, the chief executive officer now directly owns 55,019 shares of the company’s stock, valued at $29,110,002.71. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $589.97, for a total value of $533,922.85. Following the sale, the insider now directly owns 33,292 shares in the company, valued at $19,641,281.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $529.09, for a total transaction of $8,836,861.18. Following the completion of the sale, the chief executive officer now directly owns 55,019 shares in the company, valued at approximately $29,110,002.71. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 194,714 shares of company stock worth $103,811,069. Insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on META shares. Wells Fargo & Company decreased their price target on shares of Meta Platforms from $652.00 to $641.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Truist Financial upped their price target on Meta Platforms from $570.00 to $650.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Stifel Nicolaus lifted their target price on Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Barclays upped their price target on shares of Meta Platforms from $550.00 to $630.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Finally, Wolfe Research started coverage on Meta Platforms in a report on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 price target for the company. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average price target of $634.10.

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.