R. W. Roge & Company Inc. Reduces Holdings in Meta Platforms, Inc. (NASDAQ:META)

R. W. Roge & Company Inc. reduced its position in Meta Platforms, Inc. (NASDAQ:META) by 3.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 1,565 shares of the social networking company’s stock after selling 53 shares during the period. Meta Platforms accounts for about 0.5% of R. W. Roge & Company Inc.’s holdings, making the stock its 22nd biggest holding. R. W. Roge & Company Inc.’s holdings in Meta Platforms were worth $789,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Meta Platforms during the fourth quarter worth approximately $11,285,855,000. Capital Research Global Investors grew its holdings in shares of Meta Platforms by 17.2% during the fourth quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock worth $10,695,722,000 after buying an additional 4,440,229 shares during the last quarter. Concentrum Wealth Management raised its stake in Meta Platforms by 111.0% during the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock valued at $2,616,000 after acquiring an additional 3,888,308 shares during the last quarter. Vanguard Group Inc. lifted its position in Meta Platforms by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock worth $65,960,215,000 after acquiring an additional 3,104,550 shares during the period. Finally, Jennison Associates LLC grew its stake in shares of Meta Platforms by 24.7% in the 1st quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock valued at $6,733,731,000 after purchasing an additional 2,748,620 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

META has been the subject of several analyst reports. Raymond James upped their price target on Meta Platforms from $550.00 to $600.00 and gave the stock a “strong-buy” rating in a research note on Monday, July 1st. Guggenheim raised their target price on shares of Meta Platforms from $500.00 to $600.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. KeyCorp lifted their target price on shares of Meta Platforms from $540.00 to $560.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Evercore ISI increased their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-three have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $576.66.

Meta Platforms Trading Up 0.8 %

Shares of META opened at $516.86 on Friday. The company has a market capitalization of $1.31 trillion, a PE ratio of 29.69, a price-to-earnings-growth ratio of 1.29 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. Meta Platforms, Inc. has a fifty-two week low of $279.40 and a fifty-two week high of $544.23. The stock has a fifty day moving average of $505.26 and a two-hundred day moving average of $493.93.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.46. The firm had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period in the prior year, the business posted $3.23 earnings per share. As a group, analysts forecast that Meta Platforms, Inc. will post 21.3 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Monday, September 16th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.39%. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Insider Activity

In related news, CEO Mark Zuckerberg sold 150 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $500.49, for a total value of $75,073.50. Following the transaction, the chief executive officer now directly owns 124,387 shares of the company’s stock, valued at approximately $62,254,449.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Meta Platforms news, CEO Mark Zuckerberg sold 150 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.49, for a total transaction of $75,073.50. Following the completion of the sale, the chief executive officer now directly owns 124,387 shares in the company, valued at $62,254,449.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Andrew Bosworth sold 5,057 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $2,663,825.32. Following the sale, the chief technology officer now owns 11,990 shares of the company’s stock, valued at approximately $6,315,852.40. The disclosure for this sale can be found here. Insiders sold 390,977 shares of company stock valued at $202,384,548 in the last ninety days. Company insiders own 13.71% of the company’s stock.

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.