Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by RB Capital Management LLC

RB Capital Management LLC grew its position in Meta Platforms, Inc. (NASDAQ:META) by 1.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 14,754 shares of the social networking company’s stock after acquiring an additional 166 shares during the quarter. Meta Platforms comprises about 2.0% of RB Capital Management LLC’s holdings, making the stock its 10th largest position. RB Capital Management LLC’s holdings in Meta Platforms were worth $8,446,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. GG Group Ventures LLC boosted its holdings in shares of Meta Platforms by 4.0% in the third quarter. GG Group Ventures LLC now owns 834 shares of the social networking company’s stock valued at $481,000 after acquiring an additional 32 shares during the period. JDM Financial Group LLC acquired a new stake in shares of Meta Platforms in the third quarter valued at approximately $30,000. Geode Capital Management LLC boosted its holdings in shares of Meta Platforms by 1.5% in the third quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock valued at $27,470,870,000 after acquiring an additional 698,884 shares during the period. Foyston Gordon & Payne Inc boosted its holdings in shares of Meta Platforms by 0.7% in the third quarter. Foyston Gordon & Payne Inc now owns 33,102 shares of the social networking company’s stock valued at $18,949,000 after acquiring an additional 226 shares during the period. Finally, Savoie Capital LLC acquired a new stake in shares of Meta Platforms in the third quarter valued at approximately $286,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, COO Javier Olivan sold 413 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $520.57, for a total value of $214,995.41. Following the sale, the chief operating officer now owns 13,185 shares in the company, valued at approximately $6,863,715.45. This represents a 3.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Susan J. Li sold 8,951 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $577.16, for a total transaction of $5,166,159.16. Following the sale, the chief financial officer now directly owns 51,591 shares of the company’s stock, valued at approximately $29,776,261.56. This represents a 14.78 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 164,201 shares of company stock worth $95,420,559. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Stock Performance

Shares of META stock opened at $613.57 on Tuesday. Meta Platforms, Inc. has a 12 month low of $319.99 and a 12 month high of $629.79. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The firm has a market capitalization of $1.55 trillion, a P/E ratio of 28.90, a P/E/G ratio of 1.37 and a beta of 1.20. The company’s fifty day moving average price is $580.47 and its two-hundred day moving average price is $534.10.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping 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 firm had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. On average, research analysts anticipate that Meta Platforms, Inc. will post 22.68 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 16th will be paid a $0.50 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.33%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Wall Street Analysts Forecast Growth

META has been the subject of several analyst reports. Wells Fargo & Company cut their price target on Meta Platforms from $652.00 to $641.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. Guggenheim upped their price target on Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Jefferies Financial Group upped their price target on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Barclays upped their price target on Meta Platforms from $550.00 to $630.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group upped their price target on Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $634.71.

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.