RWA Wealth Partners LLC Has $37.73 Million Stake in Meta Platforms, Inc. $META

RWA Wealth Partners LLC raised its stake in Meta Platforms, Inc. (NASDAQ:META) by 13.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,375 shares of the social networking company’s stock after acquiring an additional 6,186 shares during the quarter. RWA Wealth Partners LLC’s holdings in Meta Platforms were worth $37,729,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in META. Westchester Capital Management Inc. bought a new stake in shares of Meta Platforms during the third quarter worth $26,000. Bare Financial Services Inc bought a new stake in Meta Platforms during the 2nd quarter worth $30,000. Briaud Financial Planning Inc acquired a new position in Meta Platforms in the 2nd quarter worth about $42,000. Knuff & Co LLC acquired a new position in Meta Platforms in the 2nd quarter worth about $44,000. Finally, WFA Asset Management Corp raised its position in Meta Platforms by 42.6% in the second quarter. WFA Asset Management Corp now owns 67 shares of the social networking company’s stock valued at $49,000 after purchasing an additional 20 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Robert W. Baird boosted their price target on Meta Platforms from $815.00 to $830.00 and gave the stock an “outperform” rating in a report on Thursday, January 29th. Monness Crespi & Hardt upped their price target on shares of Meta Platforms from $808.00 to $890.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. Pivotal Research dropped their price target on shares of Meta Platforms from $930.00 to $910.00 and set a “buy” rating for the company in a research note on Thursday, January 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Meta Platforms in a research note on Monday, December 29th. Finally, Guggenheim increased their price objective on Meta Platforms from $800.00 to $850.00 and gave the company a “buy” rating in a report on Thursday, January 29th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $844.44.

Meta Platforms Price Performance

META stock opened at $653.56 on Tuesday. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 0.27. The firm has a market cap of $1.65 trillion, a price-to-earnings ratio of 27.81, a PEG ratio of 1.01 and a beta of 1.30. The company’s fifty day simple moving average is $655.67 and its 200 day simple moving average is $683.67. Meta Platforms, Inc. has a 12-month low of $479.80 and a 12-month high of $796.25.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, January 28th. The social networking company reported $8.88 earnings per share for the quarter, topping analysts’ consensus estimates of $8.16 by $0.72. The firm had revenue of $59.89 billion during the quarter, compared to the consensus estimate of $58.33 billion. Meta Platforms had a return on equity of 38.61% and a net margin of 30.08%.The business’s revenue was up 23.8% compared to the same quarter last year. During the same period last year, the business posted $8.02 EPS. On average, analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Monday, March 16th will be issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, March 16th. Meta Platforms’s payout ratio is presently 8.94%.

Insiders Place Their Bets

In other Meta Platforms news, CFO Susan J. Li sold 55,702 shares of the stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $633.61, for a total transaction of $35,293,344.22. Following the transaction, the chief financial officer directly owned 13,186 shares in the company, valued at approximately $8,354,781.46. This represents a 80.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Andrew Bosworth sold 8,089 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $631.24, for a total transaction of $5,106,100.36. Following the sale, the chief technology officer directly owned 2,841 shares of the company’s stock, valued at approximately $1,793,352.84. This trade represents a 74.01% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 102,801 shares of company stock valued at $65,693,069 in the last ninety days. 13.61% of the stock is owned by corporate insiders.

Meta Platforms Company Profile

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.