Rezny Wealth Management Inc. Makes New Investment in Meta Platforms, Inc. (NASDAQ:META)

Rezny Wealth Management Inc. purchased a new stake in Meta Platforms, Inc. (NASDAQ:METAFree Report) during the 1st quarter, HoldingsChannel reports. The fund purchased 2,595 shares of the social networking company’s stock, valued at approximately $1,260,000. Meta Platforms accounts for 0.4% of Rezny Wealth Management Inc.’s holdings, making the stock its 14th biggest position.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Meta Platforms by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock worth $65,960,215,000 after buying an additional 3,104,550 shares in the last quarter. Capital World Investors boosted its holdings in Meta Platforms by 2.5% in the 4th quarter. Capital World Investors now owns 38,054,513 shares of the social networking company’s stock valued at $13,469,906,000 after purchasing an additional 927,491 shares during the period. Morgan Stanley grew its position in shares of Meta Platforms by 3.4% during the 3rd quarter. Morgan Stanley now owns 36,277,772 shares of the social networking company’s stock valued at $10,890,950,000 after purchasing an additional 1,184,978 shares in the last quarter. Capital International Investors increased its holdings in shares of Meta Platforms by 3.2% in the fourth quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock worth $12,296,383,000 after purchasing an additional 1,083,719 shares during the period. Finally, Norges Bank purchased a new stake in shares of Meta Platforms in the fourth quarter worth $11,285,855,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Trading Up 0.5 %

Shares of NASDAQ META traded up $2.52 during midday trading on Wednesday, hitting $513.12. 8,450,940 shares of the company traded hands, compared to its average volume of 16,499,006. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. Meta Platforms, Inc. has a 12-month low of $274.38 and a 12-month high of $531.49. The stock has a 50-day moving average price of $479.18 and a 200 day moving average price of $452.22. The firm has a market cap of $1.30 trillion, a P/E ratio of 29.47, a P/E/G ratio of 1.33 and a beta of 1.21.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The business had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. As a group, analysts expect that Meta Platforms, Inc. will post 20.16 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Friday, June 14th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend is Friday, June 14th. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Analysts Set New Price Targets

A number of brokerages have weighed in on META. Piper Sandler restated an “overweight” rating and issued a $545.00 target price (down from $600.00) on shares of Meta Platforms in a research note on Thursday, April 25th. Truist Financial lowered their target price on shares of Meta Platforms from $550.00 to $535.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Rosenblatt Securities boosted their price target on shares of Meta Platforms from $520.00 to $562.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. JMP Securities reissued a “market outperform” rating and issued a $550.00 price target on shares of Meta Platforms in a report on Monday, April 22nd. Finally, Benchmark reaffirmed a “hold” rating on shares of Meta Platforms in a report on Monday, April 22nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average price target of $510.05.

Check Out Our Latest Research Report on META

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 31,465 shares of Meta Platforms stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $491.49, for a total value of $15,464,732.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Mark Zuckerberg sold 31,465 shares of Meta Platforms stock in a transaction on Monday, April 1st. The stock was sold at an average price of $491.49, for a total value of $15,464,732.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Javier Olivan sold 412 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $502.00, for a total value of $206,824.00. Following the sale, the chief operating officer now owns 7,619 shares of the company’s stock, valued at approximately $3,824,738. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 232,607 shares of company stock worth $113,147,760. 13.71% of the stock is owned by insiders.

Meta Platforms Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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