Rockline Wealth Management LLC Has $9.69 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Rockline Wealth Management LLC boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 30.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 19,220 shares of the social networking company’s stock after acquiring an additional 4,478 shares during the period. Meta Platforms accounts for 3.0% of Rockline Wealth Management LLC’s portfolio, making the stock its 5th largest position. Rockline Wealth Management LLC’s holdings in Meta Platforms were worth $9,691,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Delos Wealth Advisors LLC grew its holdings in Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after acquiring an additional 58 shares during the period. POM Investment Strategies LLC acquired a new position in shares of Meta Platforms in the 2nd quarter valued at $38,000. Ruedi Wealth Management Inc. grew its holdings in shares of Meta Platforms by 122.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after buying an additional 44 shares during the period. Richardson Financial Services Inc. lifted its position in Meta Platforms by 95.6% in the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after acquiring an additional 43 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in Meta Platforms in the 4th quarter valued at $32,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on META. JMP Securities reaffirmed a “market outperform” rating and issued a $525.00 price objective on shares of Meta Platforms in a research report on Tuesday, July 30th. Wolfe Research began coverage on shares of Meta Platforms in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 price objective on the stock. KeyCorp boosted their price objective on shares of Meta Platforms from $540.00 to $560.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $570.00 price objective on shares of Meta Platforms in a research report on Thursday, August 1st. Finally, Roth Mkm boosted their price target on shares of Meta Platforms from $510.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-three have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $576.66.

Meta Platforms Trading Up 0.8 %

Shares of META stock opened at $516.86 on Friday. The firm has a 50 day moving average price of $505.26 and a two-hundred day moving average price of $493.93. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. 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. Meta Platforms, Inc. has a 12-month low of $279.40 and a 12-month high of $544.23.

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

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.39%. Meta Platforms’s dividend payout ratio is presently 11.49%.

Insider Transactions at Meta Platforms

In other news, insider Jennifer Newstead sold 901 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $451.15, for a total transaction of $406,486.15. Following the transaction, the insider now directly owns 33,324 shares of the company’s stock, valued at $15,034,122.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Jennifer Newstead sold 901 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $451.15, for a total transaction of $406,486.15. Following the transaction, the insider now directly owns 33,324 shares of the company’s stock, valued at $15,034,122.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $503.18, for a total transaction of $8,404,112.36. Following the completion of the transaction, the chief executive officer now directly owns 301,478 shares in the company, valued at $151,697,700.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 390,977 shares of company stock valued at $202,384,548. 13.71% of the stock is currently owned by company insiders.

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.