Roffman Miller Associates Inc. PA Increases Position in Meta Platforms, Inc. (NASDAQ:META)

Roffman Miller Associates Inc. PA grew its holdings in Meta Platforms, Inc. (NASDAQ:META) by 8.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 5,347 shares of the social networking company’s stock after acquiring an additional 425 shares during the quarter. Roffman Miller Associates Inc. PA’s holdings in Meta Platforms were worth $1,893,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in META. Stone House Investment Management LLC increased its stake in shares of Meta Platforms by 625.0% during the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after acquiring an additional 75 shares during the period. Gilfoyle & Co LLC acquired a new position in shares of Meta Platforms during the fourth quarter worth about $39,000. Cranbrook Wealth Management LLC increased its stake in shares of Meta Platforms by 80.4% during the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after acquiring an additional 45 shares during the period. Beaird Harris Wealth Management LLC increased its stake in shares of Meta Platforms by 68.9% during 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 period. Finally, PayPay Securities Corp increased its stake in shares of Meta Platforms by 65.2% during the third quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock worth $33,000 after acquiring an additional 43 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Stock Down 0.4 %

Shares of NASDAQ META traded down $1.58 during trading hours on Friday, hitting $439.80. The company had a trading volume of 26,147,784 shares, compared to its average volume of 18,303,029. Meta Platforms, Inc. has a 1-year low of $229.85 and a 1-year high of $531.49. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $1.12 trillion, a P/E ratio of 25.21, a price-to-earnings-growth ratio of 1.26 and a beta of 1.20. The firm’s 50 day moving average is $495.08 and its 200-day moving average is $403.40.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a return on equity of 32.37% and a net margin of 32.06%. The company had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. On average, analysts expect that Meta Platforms, Inc. will post 20.18 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, February 22nd were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend was Wednesday, February 21st. Meta Platforms’s dividend payout ratio is presently 11.49%.

Insider Transactions at Meta Platforms

In other news, CFO Susan J. Li sold 10,956 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $473.28, for a total transaction of $5,185,255.68. Following the completion of the transaction, the chief financial officer now owns 76,398 shares of the company’s stock, valued at $36,157,645.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Javier Olivan sold 490 shares of Meta Platforms stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $488.03, for a total transaction of $239,134.70. Following the completion of the transaction, the chief operating officer now directly owns 79,944 shares in the company, valued at $39,015,070.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Susan J. Li sold 10,956 shares of Meta Platforms stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $473.28, for a total transaction of $5,185,255.68. Following the transaction, the chief financial officer now owns 76,398 shares of the company’s stock, valued at $36,157,645.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,349,148 shares of company stock worth $649,552,559. Insiders own 13.75% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on META shares. Rosenblatt Securities boosted their price target on shares of Meta Platforms from $520.00 to $562.00 and gave the stock a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. dropped their price target on shares of Meta Platforms from $535.00 to $480.00 and set an “overweight” rating on the stock in a research note on Thursday. TD Cowen lowered their target price on shares of Meta Platforms from $590.00 to $530.00 and set a “buy” rating on the stock in a research report on Thursday. Bank of America upped their target price on shares of Meta Platforms from $425.00 to $510.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Finally, Sanford C. Bernstein lowered their target price on shares of Meta Platforms from $590.00 to $565.00 and set an “outperform” rating on the stock in a research report on Thursday. One analyst has rated the stock with a sell rating, three have given a hold rating, thirty-eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $509.18.

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.