Rowlandmiller & PARTNERS.ADV Has $1.82 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

Rowlandmiller & PARTNERS.ADV boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 26.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,149 shares of the social networking company’s stock after acquiring an additional 667 shares during the period. Rowlandmiller & PARTNERS.ADV’s holdings in Meta Platforms were worth $1,815,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of META. Norges Bank acquired a new position in Meta Platforms during the 4th quarter worth $19,949,512,000. GAMMA Investing LLC lifted its position in Meta Platforms by 67,172.9% during the 1st quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company’s stock worth $13,517,178,000 after acquiring an additional 23,417,803 shares during the last quarter. Proficio Capital Partners LLC lifted its position in Meta Platforms by 78,471.1% during the 4th quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company’s stock worth $3,658,713,000 after acquiring an additional 6,240,810 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Meta Platforms during the 4th quarter worth about $2,243,603,000. Finally, Northern Trust Corp increased its holdings in shares of Meta Platforms by 13.5% during the 4th quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company’s stock worth $13,727,613,000 after purchasing an additional 2,787,832 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on META shares. Piper Sandler boosted their price objective on shares of Meta Platforms from $610.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. DA Davidson dropped their price objective on shares of Meta Platforms from $800.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Morgan Stanley boosted their price objective on shares of Meta Platforms from $615.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. Truist Financial boosted their price objective on shares of Meta Platforms from $700.00 to $720.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Finally, The Goldman Sachs Group boosted their price objective on shares of Meta Platforms from $685.00 to $690.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $702.48.

Insider Transactions at Meta Platforms

In other news, COO Javier Olivan sold 406 shares of the stock in a transaction on Monday, April 21st. The shares were sold at an average price of $491.69, for a total transaction of $199,626.14. Following the completion of the sale, the chief operating officer now owns 4,608 shares of the company’s stock, valued at $2,265,707.52. This represents a 8.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $3,334,383.52. Following the sale, the chief technology officer now directly owns 16,463 shares of the company’s stock, valued at $10,855,043.68. This represents a 23.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold 85,682 shares of company stock valued at $56,014,018 over the last quarter. Corporate insiders own 13.61% of the company’s stock.

Meta Platforms Stock Down 1.2%

Shares of NASDAQ:META opened at $694.14 on Thursday. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The company has a market capitalization of $1.75 trillion, a PE ratio of 29.02, a PEG ratio of 1.42 and a beta of 1.26. The company has a 50 day moving average price of $597.08 and a two-hundred day moving average price of $617.62.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating the consensus estimate of $5.33 by $1.10. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The firm had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter in the prior year, the firm earned $4.71 earnings per share. The business’s quarterly revenue was up 16.1% on a year-over-year basis. Analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be paid a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.30%. The ex-dividend date of this dividend is Monday, June 16th. Meta Platforms’s payout ratio is presently 8.19%.

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.