Rollins Financial Advisors LLC Has $18.03 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

Rollins Financial Advisors LLC trimmed its stake in Meta Platforms, Inc. (NASDAQ:META) by 0.5% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 30,785 shares of the social networking company’s stock after selling 151 shares during the quarter. Meta Platforms makes up about 2.8% of Rollins Financial Advisors LLC’s investment portfolio, making the stock its 9th largest holding. Rollins Financial Advisors LLC’s holdings in Meta Platforms were worth $18,025,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of META. JDM Financial Group LLC acquired a new position in shares of Meta Platforms during the third quarter worth approximately $30,000. Millstone Evans Group LLC acquired a new position in Meta Platforms during the 4th quarter worth $40,000. Avondale Wealth Management bought a new position in shares of Meta Platforms in the fourth quarter worth $41,000. WealthTrak Capital Management LLC acquired a new position in shares of Meta Platforms during the fourth quarter valued at $43,000. Finally, Cordant Inc. bought a new stake in shares of Meta Platforms during the fourth quarter valued at about $59,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Activity

In other Meta Platforms news, CFO Susan J. Li sold 8,553 shares of the firm’s stock in a transaction dated Saturday, February 15th. The stock was sold at an average price of $736.67, for a total value of $6,300,738.51. Following the completion of the transaction, the chief financial officer now owns 51,793 shares in the company, valued at $38,154,349.31. This trade represents a 14.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Andrew Bosworth sold 5,060 shares of the business’s stock in a transaction on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total transaction of $3,727,550.20. Following the transaction, the chief technology officer now owns 5,139 shares of the company’s stock, valued at $3,785,747.13. This trade represents a 49.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 535,725 shares of company stock valued at $356,391,449 over the last quarter. Company insiders own 13.71% of the company’s stock.

Meta Platforms Trading Down 5.1 %

NASDAQ META opened at $504.73 on Monday. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The business has a fifty day simple moving average of $648.15 and a 200 day simple moving average of $610.77. Meta Platforms, Inc. has a 12 month low of $414.50 and a 12 month high of $740.91. The firm has a market capitalization of $1.28 trillion, a P/E ratio of 21.10, a PEG ratio of 1.42 and a beta of 1.28.

Meta Platforms (NASDAQ:META) last announced its earnings results 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 return on equity of 38.17% and a net margin of 37.91%. During the same period in the prior year, the firm posted $5.33 EPS. On average, analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were issued a dividend of $0.525 per share. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a yield of 0.42%. Meta Platforms’s dividend payout ratio is 8.78%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. UBS Group upped their price target on shares of Meta Platforms from $736.00 to $786.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. DA Davidson upped their price objective on Meta Platforms from $700.00 to $800.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Mizuho raised their price objective on Meta Platforms from $675.00 to $750.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Morgan Stanley boosted their price target on shares of Meta Platforms from $600.00 to $660.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $811.00 price target on shares of Meta Platforms in a research report on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $718.55.

About Meta Platforms

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.