RFP Financial Group LLC Sells 71 Shares of Meta Platforms, Inc. (NASDAQ:META)

RFP Financial Group LLC decreased its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 6.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,117 shares of the social networking company’s stock after selling 71 shares during the period. RFP Financial Group LLC’s holdings in Meta Platforms were worth $654,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Seelaus Asset Management LLC lifted its holdings in Meta Platforms by 0.9% during the 4th quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company’s stock valued at $960,000 after buying an additional 15 shares in the last quarter. Stephens Consulting LLC raised its holdings in shares of Meta Platforms by 5.3% in the 4th quarter. Stephens Consulting LLC now owns 317 shares of the social networking company’s stock valued at $186,000 after purchasing an additional 16 shares in the last quarter. Lindenwold Advisors INC raised its holdings in shares of Meta Platforms by 0.3% in the 3rd quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock valued at $3,388,000 after purchasing an additional 17 shares in the last quarter. Insight Wealth Strategies LLC raised its holdings in shares of Meta Platforms by 1.6% in the 4th quarter. Insight Wealth Strategies LLC now owns 1,067 shares of the social networking company’s stock valued at $625,000 after purchasing an additional 17 shares in the last quarter. Finally, Steigerwald Gordon & Koch Inc. raised its holdings in shares of Meta Platforms by 0.6% in the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 2,680 shares of the social networking company’s stock valued at $1,569,000 after purchasing an additional 17 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on META shares. Piper Sandler boosted their price target on shares of Meta Platforms from $670.00 to $775.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Citigroup boosted their price target on shares of Meta Platforms from $753.00 to $780.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Roth Mkm boosted their price target on shares of Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Mizuho boosted their price objective on shares of Meta Platforms from $675.00 to $750.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Finally, Susquehanna boosted their price objective on shares of Meta Platforms from $675.00 to $800.00 and gave the stock a “positive” rating in a research note on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus price target of $717.90.

Meta Platforms Stock Performance

META opened at $736.67 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The firm has a fifty day moving average price of $638.73 and a 200 day moving average price of $582.68. Meta Platforms, Inc. has a 1 year low of $414.50 and a 1 year high of $740.91. The stock has a market cap of $1.87 trillion, a P/E ratio of 30.80, a P/E/G ratio of 1.46 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, topping analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same quarter in the previous year, the firm earned $5.33 earnings per share. Equities research analysts anticipate that Meta Platforms, Inc. will post 26.66 earnings per share for the current year.

Meta Platforms Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be given a dividend of $0.525 per share. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a yield of 0.29%. Meta Platforms’s dividend payout ratio is currently 8.36%.

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $565.30, for a total transaction of $511,596.50. Following the completion of the transaction, the insider now directly owns 37,790 shares in the company, valued at approximately $21,362,687. This represents a 2.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Nicholas Clegg sold 7,296 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $553.48, for a total transaction of $4,038,190.08. Following the completion of the sale, the insider now owns 38,695 shares of the company’s stock, valued at $21,416,908.60. This trade represents a 15.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 793,070 shares of company stock worth $504,185,108. Company insiders own 13.71% of the company’s stock.

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.