Meta Platforms, Inc. $META is RWQ Financial Management Services Inc.’s 2nd Largest Position

RWQ Financial Management Services Inc. raised its holdings in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 131.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 33,050 shares of the social networking company’s stock after buying an additional 18,745 shares during the period. Meta Platforms accounts for approximately 10.0% of RWQ Financial Management Services Inc.’s portfolio, making the stock its 2nd largest position. RWQ Financial Management Services Inc.’s holdings in Meta Platforms were worth $21,816,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in Meta Platforms by 3.8% in the 4th quarter. Vanguard Group Inc. now owns 199,995,630 shares of the social networking company’s stock worth $132,015,115,000 after purchasing an additional 7,269,279 shares in the last quarter. State Street Corp boosted its stake in Meta Platforms by 1.9% in the 2nd quarter. State Street Corp now owns 86,925,674 shares of the social networking company’s stock worth $64,158,971,000 after purchasing an additional 1,650,435 shares during the period. Capital World Investors grew its holdings in Meta Platforms by 0.7% during the 3rd quarter. Capital World Investors now owns 39,247,690 shares of the social networking company’s stock valued at $28,823,375,000 after buying an additional 278,180 shares in the last quarter. Invesco Ltd. raised its position in shares of Meta Platforms by 0.8% during the third quarter. Invesco Ltd. now owns 17,153,754 shares of the social networking company’s stock valued at $12,597,374,000 after buying an additional 142,229 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of Meta Platforms by 4.1% during the third quarter. Legal & General Group Plc now owns 14,332,168 shares of the social networking company’s stock valued at $10,525,258,000 after buying an additional 558,792 shares during the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Meta Platforms

In related news, COO Javier Olivan sold 926 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $607.74, for a total transaction of $562,767.24. Following the sale, the chief operating officer owned 7,779 shares in the company, valued at approximately $4,727,609.46. This represents a 10.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert M. Kimmitt sold 580 shares of Meta Platforms stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $667.00, for a total transaction of $386,860.00. Following the transaction, the director directly owned 3,847 shares of the company’s stock, valued at $2,565,949. The trade was a 13.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 167,676 shares of company stock worth $107,299,848 over the last three months. 13.61% of the stock is currently owned by insiders.

Trending Headlines about Meta Platforms

Here are the key news stories impacting Meta Platforms this week:

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. KeyCorp restated an “overweight” rating and set a $760.00 target price on shares of Meta Platforms in a research report on Thursday, April 30th. Argus reiterated a “buy” rating and issued a $800.00 price target on shares of Meta Platforms in a report on Monday, February 2nd. Truist Financial decreased their price target on shares of Meta Platforms from $900.00 to $840.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Rothschild & Co Redburn set a $900.00 price objective on shares of Meta Platforms in a report on Monday, January 26th. Finally, Barclays raised their price objective on Meta Platforms from $800.00 to $830.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $840.31.

Check Out Our Latest Stock Report on Meta Platforms

Meta Platforms Price Performance

META stock opened at $603.00 on Wednesday. Meta Platforms, Inc. has a 52 week low of $520.26 and a 52 week high of $796.25. The firm has a market capitalization of $1.53 trillion, a P/E ratio of 21.92, a price-to-earnings-growth ratio of 1.05 and a beta of 1.25. The company has a fifty day simple moving average of $624.72 and a two-hundred day simple moving average of $642.58. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.24.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its earnings results on Wednesday, April 29th. The social networking company reported $10.44 earnings per share for the quarter, topping analysts’ consensus estimates of $6.67 by $3.77. The firm had revenue of $56.31 billion for the quarter, compared to the consensus estimate of $55.56 billion. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. The business’s quarterly revenue was up 33.1% on a year-over-year basis. During the same period in the previous year, the firm posted $6.43 EPS. Analysts anticipate that Meta Platforms, Inc. will post 29.65 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Monday, March 16th were paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, March 16th. Meta Platforms’s payout ratio is presently 7.63%.

About Meta Platforms

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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