Rockline Wealth Management LLC Has $9.69 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Rockline Wealth Management LLC lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 30.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,220 shares of the social networking company’s stock after acquiring an additional 4,478 shares during the quarter. Meta Platforms accounts for 3.0% of Rockline Wealth Management LLC’s portfolio, making the stock its 5th largest holding. Rockline Wealth Management LLC’s holdings in Meta Platforms were worth $9,691,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of META. Quest Partners LLC bought a new stake in shares of Meta Platforms during the 4th quarter worth $32,000. Clear Investment Research LLC lifted its holdings in shares of Meta Platforms by 411.1% in the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 74 shares in the last quarter. Delos Wealth Advisors LLC lifted its holdings in shares of Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after purchasing an additional 58 shares in the last quarter. POM Investment Strategies LLC purchased a new stake in shares of Meta Platforms in the second quarter valued at $38,000. Finally, Ruedi Wealth Management Inc. lifted its holdings in shares of Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 44 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Meta Platforms Stock Up 0.8 %

META stock opened at $516.86 on Friday. Meta Platforms, Inc. has a twelve month low of $279.40 and a twelve month high of $544.23. The company has a market cap of $1.31 trillion, a PE ratio of 29.69, a price-to-earnings-growth ratio of 1.29 and a beta of 1.21. The business’s 50-day simple moving average is $505.26 and its 200 day simple moving average is $493.93. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The firm had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter last year, the company earned $3.23 earnings per share. On average, research analysts anticipate that Meta Platforms, Inc. will post 21.3 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.39%. Meta Platforms’s dividend payout ratio is 11.49%.

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $500.00, for a total transaction of $452,500.00. Following the completion of the transaction, the insider now owns 40,560 shares in the company, valued at $20,280,000. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $500.00, for a total value of $452,500.00. Following the completion of the transaction, the insider now owns 40,560 shares in the company, valued at $20,280,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $536.92, for a total transaction of $221,747.96. Following the completion of the transaction, the chief operating officer now owns 14,424 shares of the company’s stock, valued at approximately $7,744,534.08. The disclosure for this sale can be found here. Insiders sold a total of 390,977 shares of company stock worth $202,384,548 over the last quarter. Company insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on META shares. Deutsche Bank Aktiengesellschaft increased their target price on Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Evercore ISI increased their target price on Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Benchmark restated a “hold” rating on shares of Meta Platforms in a report on Thursday, July 25th. Raymond James increased their price objective on Meta Platforms from $550.00 to $600.00 and gave the stock a “strong-buy” rating in a report on Monday, July 1st. Finally, JPMorgan Chase & Co. increased their price objective on Meta Platforms from $480.00 to $610.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-three have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $576.66.

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.