Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Rezny Wealth Management Inc.

Rezny Wealth Management Inc. raised its holdings in Meta Platforms, Inc. (NASDAQ:META) by 1.0% during the fourth quarter, HoldingsChannel reports. The firm owned 3,171 shares of the social networking company’s stock after buying an additional 31 shares during the period. Meta Platforms comprises about 0.5% of Rezny Wealth Management Inc.’s investment portfolio, making the stock its 17th biggest holding. Rezny Wealth Management Inc.’s holdings in Meta Platforms were worth $1,857,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. JDM Financial Group LLC acquired a new stake in shares of Meta Platforms in the 3rd quarter worth $30,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Meta Platforms during the third quarter worth about $36,000. Avondale Wealth Management purchased a new position in Meta Platforms during the fourth quarter worth about $41,000. Halpern Financial Inc. acquired a new stake in Meta Platforms in the third quarter valued at about $46,000. Finally, West Financial Advisors LLC acquired a new position in Meta Platforms during the 3rd quarter worth approximately $49,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Jefferies Financial Group raised their price target on Meta Platforms from $675.00 to $715.00 and gave the company a “buy” rating in a report on Monday, January 6th. Citigroup boosted their target price on shares of Meta Platforms from $645.00 to $705.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Susquehanna increased their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “positive” rating in a report on Thursday, October 31st. Mizuho boosted their price objective on shares of Meta Platforms from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Finally, TD Cowen increased their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $654.20.

Meta Platforms Trading Up 2.1 %

NASDAQ META opened at $636.45 on Friday. The firm has a market capitalization of $1.61 trillion, a price-to-earnings ratio of 29.98, a PEG ratio of 1.16 and a beta of 1.19. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. Meta Platforms, Inc. has a one year low of $385.66 and a one year high of $638.40. The company’s 50 day moving average price is $600.06 and its 200 day moving average price is $559.30.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The business had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. On average, sell-side analysts predict that Meta Platforms, Inc. will post 22.96 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.31%. Meta Platforms’s payout ratio is currently 9.42%.

Insider Activity at Meta Platforms

In related news, CEO Mark Zuckerberg sold 420 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $600.17, for a total value of $252,071.40. Following the transaction, the chief executive officer now owns 518,004 shares in the company, valued at approximately $310,890,460.68. The trade was a 0.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $580.10, for a total value of $524,990.50. Following the sale, the insider now owns 31,482 shares of the company’s stock, valued at approximately $18,262,708.20. This trade represents a 2.79 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 568,016 shares of company stock worth $346,031,180. 13.71% of the stock is currently owned by company 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.