RMR Wealth Builders Acquires 769 Shares of Meta Platforms, Inc. (NASDAQ:META)

RMR Wealth Builders raised its holdings in Meta Platforms, Inc. (NASDAQ:META) by 7.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,088 shares of the social networking company’s stock after purchasing an additional 769 shares during the quarter. Meta Platforms accounts for 0.7% of RMR Wealth Builders’ investment portfolio, making the stock its 25th largest position. RMR Wealth Builders’ holdings in Meta Platforms were worth $5,384,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Stone House Investment Management LLC increased its position in Meta Platforms by 625.0% in the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after buying an additional 75 shares during the last quarter. Beaird Harris Wealth Management LLC increased its holdings in Meta Platforms by 68.9% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after acquiring an additional 42 shares during the last quarter. Quest Partners LLC purchased a new stake in Meta Platforms in the 4th quarter worth about $32,000. Clear Investment Research LLC raised its stake in Meta Platforms by 411.1% in the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after acquiring an additional 74 shares during the period. Finally, Cranbrook Wealth Management LLC lifted its holdings in 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 purchasing an additional 45 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on META shares. Robert W. Baird lowered their price target on shares of Meta Platforms from $525.00 to $500.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Loop Capital lowered their target price on shares of Meta Platforms from $555.00 to $550.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Oppenheimer dropped their target price on Meta Platforms from $585.00 to $500.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. TD Cowen reduced their price target on Meta Platforms from $590.00 to $530.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Finally, JMP Securities reissued a “market outperform” rating and set a $550.00 price objective on shares of Meta Platforms in a report on Monday, April 22nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $510.05.

Meta Platforms Stock Up 1.3 %

Shares of Meta Platforms stock opened at $519.56 on Friday. Meta Platforms, Inc. has a 1 year low of $274.38 and a 1 year high of $531.49. The firm has a market cap of $1.32 trillion, a price-to-earnings ratio of 29.84, a PEG ratio of 1.33 and a beta of 1.21. The company has a 50-day moving average of $479.53 and a 200 day moving average of $452.69. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68.

Meta Platforms (NASDAQ:META) last released its earnings results 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 firm had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 20.16 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were issued a dividend of $0.50 per share. The ex-dividend date was Friday, June 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.38%. Meta Platforms’s payout ratio is presently 11.49%.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $510.88, for a total value of $8,532,717.76. Following the transaction, the chief executive officer now owns 230,461 shares in the company, valued at $117,737,915.68. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $510.88, for a total value of $8,532,717.76. Following the completion of the transaction, the chief executive officer now owns 230,461 shares of the company’s stock, valued at approximately $117,737,915.68. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Andrew Bosworth sold 5,058 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total transaction of $2,386,617.30. Following the sale, the chief technology officer now directly owns 15,412 shares in the company, valued at approximately $7,272,152.20. The disclosure for this sale can be found here. Insiders sold a total of 233,512 shares of company stock valued at $113,597,536 in the last quarter. 13.71% of the stock is 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.