RKL Wealth Management LLC Buys 314 Shares of Meta Platforms, Inc. (NASDAQ:META)

RKL Wealth Management LLC raised its stake in Meta Platforms, Inc. (NASDAQ:META) by 5.7% in the fourth quarter, Holdings Channel reports. The fund owned 5,855 shares of the social networking company’s stock after purchasing an additional 314 shares during the quarter. RKL Wealth Management LLC’s holdings in Meta Platforms were worth $2,072,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in META. Signify Wealth bought a new position in Meta Platforms in the 4th quarter valued at approximately $228,000. Investment Research & Advisory Group Inc. raised its holdings in Meta Platforms by 1.5% in the 4th quarter. Investment Research & Advisory Group Inc. now owns 10,962 shares of the social networking company’s stock valued at $3,880,000 after buying an additional 164 shares during the last quarter. Keel Point LLC raised its holdings in Meta Platforms by 6.3% in the 3rd quarter. Keel Point LLC now owns 6,690 shares of the social networking company’s stock valued at $2,008,000 after buying an additional 399 shares during the last quarter. Syntegra Private Wealth Group LLC bought a new position in Meta Platforms in the 4th quarter valued at approximately $269,000. Finally, AFT Forsyth & Company Inc. raised its holdings in Meta Platforms by 5.6% in the 3rd quarter. AFT Forsyth & Company Inc. now owns 4,149 shares of the social networking company’s stock valued at $1,246,000 after buying an additional 220 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on META. The Goldman Sachs Group raised their price objective on shares of Meta Platforms from $414.00 to $500.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Morgan Stanley raised their price target on shares of Meta Platforms from $375.00 to $550.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Citigroup raised their price target on shares of Meta Platforms from $440.00 to $525.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Piper Sandler raised their price target on shares of Meta Platforms from $415.00 to $525.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Finally, Wolfe Research raised their price target on shares of Meta Platforms from $430.00 to $530.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-nine have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus price target of $499.38.

Meta Platforms Trading Up 3.2 %

Shares of Meta Platforms stock opened at $527.34 on Monday. Meta Platforms, Inc. has a 52-week low of $207.13 and a 52-week high of $530.70. The stock’s 50-day simple moving average is $480.84 and its 200 day simple moving average is $385.49. The stock has a market capitalization of $1.34 trillion, a P/E ratio of 35.39, a P/E/G ratio of 1.36 and a beta of 1.20. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.67 and a current ratio of 2.67.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Thursday, February 1st. The social networking company reported $5.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.82 by $0.51. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. The business had revenue of $40.11 billion for the quarter, compared to analysts’ expectations of $39.12 billion. During the same period in the previous year, the business posted $3.00 EPS. The firm’s quarterly revenue was up 24.7% compared to the same quarter last year. As a group, research analysts anticipate that Meta Platforms, Inc. will post 19.94 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, February 22nd were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date was Wednesday, February 21st. Meta Platforms’s payout ratio is presently 13.42%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 490 shares of Meta Platforms stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $513.32, for a total transaction of $251,526.80. Following the completion of the transaction, the chief operating officer now owns 10,029 shares of the company’s stock, valued at approximately $5,148,086.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Javier Olivan sold 490 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $513.32, for a total transaction of $251,526.80. Following the completion of the transaction, the chief operating officer now owns 10,029 shares of the company’s stock, valued at $5,148,086.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 566 shares of the business’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $356.40, for a total value of $201,722.40. Following the transaction, the insider now directly owns 36,418 shares of the company’s stock, valued at approximately $12,979,375.20. The disclosure for this sale can be found here. Insiders sold 1,495,983 shares of company stock valued at $705,134,392 in the last quarter. 14.03% of the stock is currently owned by corporate 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.