Rehmann Capital Advisory Group Has $9.64 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Rehmann Capital Advisory Group increased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 47.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 16,462 shares of the social networking company’s stock after purchasing an additional 5,268 shares during the period. Rehmann Capital Advisory Group’s holdings in Meta Platforms were worth $9,639,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in META. Millstone Evans Group LLC acquired a new stake in Meta Platforms in the fourth quarter valued at approximately $40,000. Avondale Wealth Management acquired a new stake in Meta Platforms in the fourth quarter valued at approximately $41,000. WealthTrak Capital Management LLC acquired a new stake in Meta Platforms in the fourth quarter valued at approximately $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Meta Platforms in the fourth quarter valued at approximately $45,000. Finally, Cordant Inc. acquired a new stake in Meta Platforms in the fourth quarter valued at approximately $59,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $554.44 on Wednesday. The company has a market cap of $1.40 trillion, a PE ratio of 23.18, a price-to-earnings-growth 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. The business has a 50 day moving average price of $581.11 and a 200-day moving average price of $604.05. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping the consensus estimate of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same period in the prior year, the firm earned $5.33 earnings per share. Equities analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Rosenblatt Securities restated a “buy” rating and issued a $811.00 target price on shares of Meta Platforms in a research report on Monday, January 27th. Wedbush dropped their price target on shares of Meta Platforms from $770.00 to $680.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. Benchmark dropped their price target on shares of Meta Platforms from $820.00 to $640.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Robert W. Baird raised their price target on shares of Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Finally, DA Davidson dropped their price target on shares of Meta Platforms from $800.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Two investment 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 company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $681.95.

Insider Transactions at Meta Platforms

In related news, CEO Mark Zuckerberg sold 12,975 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $696.39, for a total transaction of $9,035,660.25. Following the completion of the sale, the chief executive officer now directly owns 210,971 shares of the company’s stock, valued at approximately $146,918,094.69. This trade represents a 5.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Javier Olivan sold 406 shares of the stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $491.69, for a total value of $199,626.14. Following the sale, the chief operating officer now directly owns 4,608 shares of the company’s stock, valued at $2,265,707.52. The trade was a 8.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 248,463 shares of company stock valued at $175,403,314 over the last ninety days. 13.71% of the stock is currently owned by insiders.

Meta Platforms Company 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.