Frank Rimerman Advisors LLC Lowers Position in Meta Platforms, Inc. $META

Frank Rimerman Advisors LLC lessened its position in Meta Platforms, Inc. (NASDAQ:META) by 2.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 39,439 shares of the social networking company’s stock after selling 1,087 shares during the quarter. Meta Platforms makes up about 1.7% of Frank Rimerman Advisors LLC’s investment portfolio, making the stock its 13th largest holding. Frank Rimerman Advisors LLC’s holdings in Meta Platforms were worth $26,033,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Goldstone Financial Group LLC increased its holdings in shares of Meta Platforms by 44.4% in the 3rd quarter. Goldstone Financial Group LLC now owns 3,752 shares of the social networking company’s stock worth $2,756,000 after purchasing an additional 1,153 shares in the last quarter. CW Advisors LLC increased its holdings in shares of Meta Platforms by 27.8% in the 2nd quarter. CW Advisors LLC now owns 176,762 shares of the social networking company’s stock worth $130,467,000 after purchasing an additional 38,432 shares in the last quarter. Ashton Thomas Private Wealth LLC increased its holdings in shares of Meta Platforms by 34.2% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 52,252 shares of the social networking company’s stock worth $38,373,000 after purchasing an additional 13,311 shares in the last quarter. Becker Capital Management Inc. increased its holdings in shares of Meta Platforms by 5.0% in the 3rd quarter. Becker Capital Management Inc. now owns 35,052 shares of the social networking company’s stock worth $25,741,000 after purchasing an additional 1,657 shares in the last quarter. Finally, Diversified Trust Co. increased its holdings in shares of Meta Platforms by 4.1% in the 4th quarter. Diversified Trust Co. now owns 84,059 shares of the social networking company’s stock worth $55,487,000 after purchasing an additional 3,336 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Activity

In other news, COO Javier Olivan sold 2,461 shares of the business’s stock in a transaction dated Sunday, February 15th. The stock was sold at an average price of $639.77, for a total value of $1,574,473.97. Following the transaction, the chief operating officer directly owned 12,108 shares in the company, valued at $7,746,335.16. The trade was a 16.89% 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, CFO Susan J. Li sold 56,571 shares of the business’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $644.70, for a total value of $36,471,323.70. The SEC filing for this sale provides additional information. Insiders have sold 160,931 shares of company stock worth $102,997,526 over the last ninety days. Corporate insiders own 13.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on META. Weiss Ratings reissued a “buy (b)” rating on shares of Meta Platforms in a report on Friday, March 27th. Erste Group Bank lowered Meta Platforms from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. Stifel Nicolaus lifted their target price on Meta Platforms from $785.00 to $820.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Citigroup reaffirmed an “outperform” rating on shares of Meta Platforms in a report on Thursday, January 29th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $860.00 price objective (up from $750.00) on shares of Meta Platforms in a research report on Thursday, January 29th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $843.57.

Meta Platforms Stock Performance

NASDAQ:META opened at $573.02 on Tuesday. The stock has a 50-day simple moving average of $635.80 and a two-hundred day simple moving average of $657.61. Meta Platforms, Inc. has a 52-week low of $479.80 and a 52-week high of $796.25. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.60 and a current ratio of 2.60. The firm has a market capitalization of $1.45 trillion, a PE ratio of 24.38, a P/E/G ratio of 0.89 and a beta of 1.31.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, January 28th. The social networking company reported $8.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.16 by $0.72. Meta Platforms had a return on equity of 38.61% and a net margin of 30.08%.The business had revenue of $59.89 billion during the quarter, compared to analyst estimates of $58.33 billion. During the same quarter in the previous year, the company posted $8.02 earnings per share. Meta Platforms’s revenue for the quarter was up 23.8% on a year-over-year basis. Analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Monday, March 16th were given a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, March 16th. Meta Platforms’s payout ratio is presently 8.94%.

Meta Platforms Profile

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.