RB Capital Management LLC Acquires 421 Shares of Meta Platforms, Inc. (NASDAQ:META)

RB Capital Management LLC lifted its stake in Meta Platforms, Inc. (NASDAQ:META) by 2.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,250 shares of the social networking company’s stock after buying an additional 421 shares during the quarter. Meta Platforms makes up about 1.5% of RB Capital Management LLC’s investment portfolio, making the stock its 16th largest position. RB Capital Management LLC’s holdings in Meta Platforms were worth $5,398,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of META. Stone House Investment Management LLC increased its position in Meta Platforms by 625.0% during the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after acquiring an additional 75 shares during the last quarter. Beaird Harris Wealth Management LLC grew its holdings in Meta Platforms by 68.9% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after purchasing an additional 42 shares during the last quarter. PayPay Securities Corp raised its position in Meta Platforms by 65.2% in the 3rd quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock worth $33,000 after purchasing an additional 43 shares during the period. Cranbrook Wealth Management LLC grew its stake in shares of Meta Platforms by 80.4% during the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after buying an additional 45 shares during the last quarter. Finally, Gilfoyle & Co LLC purchased a new stake in shares of Meta Platforms in the fourth quarter worth approximately $39,000. Institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on META shares. Citigroup lowered their target price on shares of Meta Platforms from $590.00 to $550.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Wedbush lowered their target price on Meta Platforms from $570.00 to $480.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Canaccord Genuity Group reduced their price target on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Truist Financial reduced their target price on shares of Meta Platforms from $550.00 to $535.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Finally, UBS Group lowered their price objective on Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $513.55.

Meta Platforms Price Performance

Shares of NASDAQ:META traded up $9.02 during midday trading on Wednesday, reaching $439.19. 20,260,742 shares of the company’s stock traded hands, compared to its average volume of 18,420,502. The company has a market cap of $1.12 trillion, a P/E ratio of 25.36, a PEG ratio of 1.12 and a beta of 1.20. The company has a fifty day simple moving average of $492.83 and a two-hundred day simple moving average of $406.97. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. Meta Platforms, Inc. has a 1 year low of $229.85 and a 1 year high of $531.49.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.32 by $0.39. The business had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. Equities analysts predict that Meta Platforms, Inc. will post 20.17 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd were given a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $2.00 annualized dividend and a dividend yield of 0.46%. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 8,036 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $473.28, for a total value of $3,803,278.08. Following the transaction, the chief technology officer now owns 18,432 shares in the company, valued at approximately $8,723,496.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Susan J. Li sold 10,956 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $473.28, for a total transaction of $5,185,255.68. Following the transaction, the chief financial officer now owns 76,398 shares of the company’s stock, valued at approximately $36,157,645.44. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CTO Andrew Bosworth sold 8,036 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $473.28, for a total value of $3,803,278.08. Following the transaction, the chief technology officer now directly owns 18,432 shares of the company’s stock, valued at $8,723,496.96. The disclosure for this sale can be found here. Insiders have sold 1,257,291 shares of company stock valued at $612,916,087 over the last ninety days. Insiders own 13.71% of the company’s stock.

About Meta Platforms

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.