RW Investment Management LLC Sells 37 Shares of Meta Platforms, Inc. (NASDAQ:META)

RW Investment Management LLC lowered its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.7% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 2,104 shares of the social networking company’s stock after selling 37 shares during the period. RW Investment Management LLC’s holdings in Meta Platforms were worth $1,061,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Quest Partners LLC purchased a new stake in Meta Platforms in the fourth quarter worth approximately $32,000. Clear Investment Research LLC lifted its holdings in shares of Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after buying an additional 74 shares during the period. Delos Wealth Advisors LLC boosted its stake in shares of Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after buying an additional 58 shares during the last quarter. POM Investment Strategies LLC bought a new stake in shares of Meta Platforms in the second quarter worth $38,000. Finally, Ruedi Wealth Management Inc. increased its position in Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after acquiring an additional 44 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Meta Platforms stock opened at $564.41 on Tuesday. The company’s 50-day moving average price is $507.58 and its 200-day moving average price is $497.28. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The company has a market cap of $1.43 trillion, a PE ratio of 32.42, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21. Meta Platforms, Inc. has a twelve month low of $279.40 and a twelve month high of $573.98.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.46. The company had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same period in the previous year, the firm posted $3.23 earnings per share. On average, equities research analysts forecast that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Monday, September 16th will be given a $0.50 dividend. The ex-dividend date is Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. Meta Platforms’s dividend payout ratio is presently 11.49%.

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $500.57, for a total value of $453,015.85. Following the completion of the sale, the insider now owns 37,845 shares in the company, valued at approximately $18,944,071.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Javier Olivan sold 412 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $463.00, for a total transaction of $190,756.00. Following the transaction, the chief operating officer now owns 5,559 shares of the company’s stock, valued at $2,573,817. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $500.57, for a total value of $453,015.85. Following the sale, the insider now directly owns 37,845 shares of the company’s stock, valued at $18,944,071.65. The disclosure for this sale can be found here. Insiders sold 365,761 shares of company stock valued at $190,846,038 over the last three months. 13.71% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have issued reports on META. Stifel Nicolaus boosted their price target on Meta Platforms from $550.00 to $590.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Susquehanna boosted their target price on shares of Meta Platforms from $550.00 to $600.00 and gave the company a “positive” rating in a research report on Thursday, August 1st. Sanford C. Bernstein increased their price target on shares of Meta Platforms from $565.00 to $575.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Piper Sandler lifted their price target on shares of Meta Platforms from $545.00 to $575.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, Rosenblatt Securities upped their price objective on Meta Platforms from $562.00 to $643.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have given a hold rating, thirty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and an average price target of $578.92.

Meta Platforms 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.