RB Capital Management LLC Has $5.40 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

RB Capital Management LLC boosted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,250 shares of the social networking company’s stock after buying an additional 421 shares during the period. Meta Platforms comprises 1.5% of RB Capital Management LLC’s investment portfolio, making the stock its 16th largest holding. RB Capital Management LLC’s holdings in Meta Platforms were worth $5,398,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Stone House Investment Management LLC lifted its holdings in shares of Meta Platforms by 625.0% in the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after purchasing an additional 75 shares in the last quarter. Gilfoyle & Co LLC acquired a new position in shares of Meta Platforms in the 4th quarter valued at about $39,000. Cranbrook Wealth Management LLC grew its position in Meta Platforms by 80.4% during the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after purchasing an additional 45 shares in the last quarter. Beaird Harris Wealth Management LLC increased its stake in shares of Meta Platforms by 68.9% in the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after acquiring an additional 42 shares during the last quarter. Finally, PayPay Securities Corp boosted its position in Meta Platforms by 65.2% during the third quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Canaccord Genuity Group cut their price target on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Susquehanna lifted their price target on shares of Meta Platforms from $400.00 to $550.00 and gave the company a “positive” rating in a research report on Friday, February 2nd. Robert W. Baird decreased their price objective on shares of Meta Platforms from $525.00 to $500.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Evercore ISI boosted their price objective on Meta Platforms from $425.00 to $550.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Finally, Tigress Financial increased their price target on shares of Meta Platforms from $435.00 to $575.00 and gave the company a “strong-buy” rating in a report on Friday, February 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $513.55.

Insider Buying and Selling at Meta Platforms

In other news, CTO Andrew Bosworth sold 8,036 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $473.28, for a total value of $3,803,278.08. Following the transaction, the chief technology officer now owns 18,432 shares in the company, valued at approximately $8,723,496.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Meta Platforms news, CTO Andrew Bosworth sold 8,036 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $473.28, for a total transaction of $3,803,278.08. Following the completion of the transaction, the chief technology officer now owns 18,432 shares in the company, valued at $8,723,496.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $522.00, for a total transaction of $305,370.00. Following the completion of the sale, the insider now directly owns 38,398 shares in the company, valued at approximately $20,043,756. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,257,291 shares of company stock worth $612,916,087. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Trading Up 2.1 %

Shares of META traded up $9.02 during mid-day trading on Wednesday, reaching $439.19. 20,260,742 shares of the company were exchanged, compared to its average volume of 18,420,502. The business has a 50 day simple moving average of $492.83 and a two-hundred day simple moving average of $406.97. Meta Platforms, Inc. has a 52 week low of $229.85 and a 52 week high of $531.49. The stock has a market capitalization of $1.12 trillion, a PE ratio of 25.36, a PEG ratio of 1.12 and a beta of 1.20. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The company had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. On average, analysts predict that Meta Platforms, Inc. will post 20.17 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Thursday, February 22nd were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend was Wednesday, February 21st. Meta Platforms’s payout ratio is currently 11.49%.

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.