Meta Platforms, Inc. (NASDAQ:META) Stock Holdings Cut by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC reduced its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 19.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 37,237 shares of the social networking company’s stock after selling 9,012 shares during the quarter. Meta Platforms comprises 1.6% of Frank Rimerman Advisors LLC’s portfolio, making the stock its 14th largest holding. Frank Rimerman Advisors LLC’s holdings in Meta Platforms were worth $21,803,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Financial Group Corp bought a new position in Meta Platforms during the 4th quarter valued at $208,000. Van Strum & Towne Inc. boosted its stake in Meta Platforms by 25.9% during the 4th quarter. Van Strum & Towne Inc. now owns 486 shares of the social networking company’s stock valued at $285,000 after purchasing an additional 100 shares in the last quarter. Clearstead Trust LLC boosted its stake in Meta Platforms by 1.8% during the 4th quarter. Clearstead Trust LLC now owns 2,584 shares of the social networking company’s stock valued at $1,513,000 after purchasing an additional 46 shares in the last quarter. Copperwynd Financial LLC boosted its stake in Meta Platforms by 3.8% during the 4th quarter. Copperwynd Financial LLC now owns 8,103 shares of the social networking company’s stock valued at $4,744,000 after purchasing an additional 295 shares in the last quarter. Finally, Greykasell Wealth Strategies Inc. bought a new position in Meta Platforms during the 4th quarter valued at $2,768,000. 79.91% of the stock is owned by institutional investors.

Meta Platforms Trading Down 3.7 %

Meta Platforms stock opened at $582.36 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The company has a market capitalization of $1.48 trillion, a price-to-earnings ratio of 24.35, a PEG ratio of 1.42 and a beta of 1.23. Meta Platforms, Inc. has a one year low of $414.50 and a one year high of $740.91. The company’s fifty day moving average price is $656.80 and its two-hundred day moving average price is $604.84.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same period in the prior year, the company earned $5.33 EPS. On average, analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be given a $0.525 dividend. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a dividend yield of 0.36%. The ex-dividend date of this dividend is Friday, March 14th. Meta Platforms’s dividend payout ratio (DPR) is currently 8.78%.

Insider Activity

In other news, CTO Andrew Bosworth sold 5,060 shares of the firm’s stock in a transaction dated Saturday, February 15th. The stock was sold at an average price of $736.67, for a total value of $3,727,550.20. Following the sale, the chief technology officer now directly owns 5,139 shares of the company’s stock, valued at approximately $3,785,747.13. This trade represents a 49.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Christopher K. Cox sold 20,000 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $677.71, for a total value of $13,554,200.00. Following the completion of the sale, the insider now directly owns 308,686 shares in the company, valued at approximately $209,199,589.06. This represents a 6.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 631,415 shares of company stock valued at $414,365,524. 13.71% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

META has been the subject of a number of recent research reports. Tigress Financial reiterated a “strong-buy” rating on shares of Meta Platforms in a research report on Tuesday, February 11th. Morgan Stanley increased their price objective on Meta Platforms from $600.00 to $660.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Cantor Fitzgerald increased their price objective on Meta Platforms from $720.00 to $790.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Truist Financial increased their price objective on Meta Platforms from $700.00 to $770.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Finally, Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a research report on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $718.31.

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.