Rehmann Capital Advisory Group Grows Position in Meta Platforms, Inc. (NASDAQ:META)

Rehmann Capital Advisory Group raised its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,523 shares of the social networking company’s stock after buying an additional 67 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Meta Platforms were worth $4,625,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Quest Partners LLC purchased a new stake in Meta Platforms in the fourth quarter worth about $32,000. Clear Investment Research LLC increased its holdings in shares of Meta Platforms by 411.1% during the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after acquiring an additional 74 shares in the last quarter. Cranbrook Wealth Management LLC raised its position in shares of Meta Platforms by 80.4% in the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after purchasing an additional 45 shares during the last quarter. Gilfoyle & Co LLC purchased a new stake in Meta Platforms during the 4th quarter valued at about $39,000. Finally, Kathleen S. Wright Associates Inc. bought a new stake in Meta Platforms during the 1st quarter valued at about $44,000. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

Shares of NASDAQ:META traded down $5.47 during midday trading on Thursday, reaching $529.22. 1,373,300 shares of the company were exchanged, compared to its average volume of 16,065,414. The stock has a market cap of $1.34 trillion, a PE ratio of 30.71, a price-to-earnings-growth ratio of 1.37 and a beta of 1.21. The business’s fifty day moving average is $490.20 and its two-hundred day moving average is $464.66. Meta Platforms, Inc. has a one year low of $274.38 and a one year high of $542.81. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.32 by $0.39. The business had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. As a group, analysts predict that Meta Platforms, Inc. will post 20.15 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.38%. The ex-dividend date was Friday, June 14th. Meta Platforms’s dividend payout ratio is currently 11.49%.

Analyst Upgrades and Downgrades

META has been the topic of a number of recent analyst reports. Robert W. Baird cut their price target on shares of Meta Platforms from $525.00 to $500.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Royal Bank of Canada decreased their price target on Meta Platforms from $600.00 to $570.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Stifel Nicolaus increased their price objective on Meta Platforms from $527.00 to $588.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Loop Capital reissued a “buy” rating and issued a $550.00 target price on shares of Meta Platforms in a research report on Wednesday, July 3rd. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Meta Platforms from $540.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $515.64.

Insider Activity

In other news, COO Javier Olivan sold 490 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $517.75, for a total transaction of $253,697.50. Following the transaction, the chief operating officer now owns 7,579 shares of the company’s stock, valued at $3,924,027.25. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, COO Javier Olivan sold 490 shares of the firm’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $517.75, for a total value of $253,697.50. Following the transaction, the chief operating officer now owns 7,579 shares of the company’s stock, valued at approximately $3,924,027.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jennifer Newstead sold 576 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $466.33, for a total transaction of $268,606.08. Following the completion of the transaction, the insider now owns 36,067 shares in the company, valued at $16,819,124.11. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 294,768 shares of company stock valued at $146,314,257. 13.71% of the stock is currently owned by company insiders.

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.