Resources Management Corp CT ADV Has $370,000 Position in Meta Platforms, Inc. (NASDAQ:META)

Resources Management Corp CT ADV lessened its stake in Meta Platforms, Inc. (NASDAQ:META) by 13.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 733 shares of the social networking company’s stock after selling 115 shares during the quarter. Resources Management Corp CT ADV’s holdings in Meta Platforms were worth $370,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in META. Quest Partners LLC bought a new stake in shares of Meta Platforms in the 4th quarter valued at approximately $32,000. Clear Investment Research LLC increased its holdings in Meta Platforms by 411.1% in the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after buying an additional 74 shares during the period. Delos Wealth Advisors LLC raised its position in Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after purchasing an additional 58 shares in the last quarter. POM Investment Strategies LLC bought a new position in Meta Platforms during the second quarter worth about $38,000. Finally, Ruedi Wealth Management Inc. boosted its holdings in Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 44 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

Shares of META stock opened at $563.33 on Wednesday. Meta Platforms, Inc. has a 12-month low of $279.40 and a 12-month high of $573.98. 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 firm has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 32.36, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21. The firm has a fifty day moving average of $510.42 and a 200-day moving average of $498.05.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.23 EPS. On average, equities research analysts forecast that Meta Platforms, Inc. will post 21.36 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Monday, September 16th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date is Monday, September 16th. Meta Platforms’s payout ratio is presently 11.49%.

Insiders Place Their Bets

In other news, COO Javier Olivan sold 413 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $560.00, for a total transaction of $231,280.00. Following the completion of the transaction, the chief operating officer now directly owns 12,772 shares of the company’s stock, valued at $7,152,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Christopher K. Cox sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $557.52, for a total transaction of $11,150,400.00. Following the completion of the transaction, the insider now directly owns 338,662 shares of the company’s stock, valued at approximately $188,810,838.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Javier Olivan sold 413 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $560.00, for a total transaction of $231,280.00. Following the completion of the sale, the chief operating officer now directly owns 12,772 shares in the company, valued at approximately $7,152,320. The disclosure for this sale can be found here. In the last 90 days, insiders sold 349,472 shares of company stock worth $182,544,600. Corporate insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on META. Citigroup boosted their price target on Meta Platforms from $580.00 to $645.00 and gave the company a “buy” rating in a research note on Monday. JPMorgan Chase & Co. upped their target price on shares of Meta Platforms from $480.00 to $610.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Barclays lifted their price target on shares of Meta Platforms from $520.00 to $550.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. KeyCorp upped their price objective on shares of Meta Platforms from $540.00 to $560.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, Oppenheimer lifted their target price on shares of Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-four have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $578.92.

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.