RWQ Financial Management Services Inc. Has $30.44 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

RWQ Financial Management Services Inc. lessened its stake in Meta Platforms, Inc. (NASDAQ:META) by 30.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 51,995 shares of the social networking company’s stock after selling 22,937 shares during the quarter. Meta Platforms accounts for about 11.9% of RWQ Financial Management Services Inc.’s portfolio, making the stock its largest position. RWQ Financial Management Services Inc.’s holdings in Meta Platforms were worth $30,444,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Geode Capital Management LLC increased its stake in shares of Meta Platforms by 1.5% in the third quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock worth $27,470,870,000 after buying an additional 698,884 shares during the last quarter. Jennison Associates LLC increased its stake in Meta Platforms by 1.9% during the third quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock valued at $8,266,531,000 after purchasing an additional 263,063 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Meta Platforms by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 14,251,766 shares of the social networking company’s stock valued at $8,344,552,000 after purchasing an additional 424,201 shares during the last quarter. Franklin Resources Inc. increased its stake in Meta Platforms by 2.8% during the third quarter. Franklin Resources Inc. now owns 6,946,755 shares of the social networking company’s stock valued at $4,101,602,000 after purchasing an additional 186,728 shares during the last quarter. Finally, Fisher Asset Management LLC increased its stake in Meta Platforms by 1.7% during the fourth quarter. Fisher Asset Management LLC now owns 6,675,174 shares of the social networking company’s stock valued at $3,908,382,000 after purchasing an additional 110,040 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

META stock opened at $596.25 on Friday. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a one year low of $414.50 and a one year high of $740.91. The firm has a market capitalization of $1.51 trillion, a PE ratio of 24.93, a P/E/G ratio of 1.42 and a beta of 1.23. The firm has a 50-day moving average of $655.38 and a two-hundred day moving average of $605.74.

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

Meta Platforms Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.525 per share. The ex-dividend date is Friday, March 14th. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a yield of 0.35%. Meta Platforms’s dividend payout ratio is currently 8.78%.

Analysts Set New Price Targets

META has been the subject of several recent research reports. Morgan Stanley boosted their target price on shares of Meta Platforms from $600.00 to $660.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Citigroup boosted their target price on shares of Meta Platforms from $753.00 to $780.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Mizuho boosted their target price on shares of Meta Platforms from $675.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Pivotal Research boosted their target price on shares of Meta Platforms from $800.00 to $875.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Finally, Rosenblatt Securities restated a “buy” rating and set a $811.00 price target on shares of Meta Platforms in a research report on Monday, January 27th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $718.31.

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 55,589 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $717.72, for a total value of $39,897,337.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Javier Olivan sold 4,706 shares of the stock in a transaction that occurred on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total transaction of $3,466,769.02. Following the completion of the sale, the chief operating officer now directly owns 20,935 shares of the company’s stock, valued at $15,422,186.45. This trade represents a 18.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 622,844 shares of company stock valued at $409,212,161. 13.71% of the stock is currently owned by corporate 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.