Parcion Private Wealth LLC Has $1.90 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

Parcion Private Wealth LLC grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,244 shares of the social networking company’s stock after purchasing an additional 24 shares during the period. Parcion Private Wealth LLC’s holdings in Meta Platforms were worth $1,899,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. JDM Financial Group LLC acquired a new stake in Meta Platforms during the third quarter worth about $30,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Meta Platforms during the 3rd quarter worth approximately $36,000. Avondale Wealth Management acquired a new stake in shares of Meta Platforms during the 4th quarter worth approximately $41,000. Cordant Inc. bought a new position in Meta Platforms in the fourth quarter valued at approximately $59,000. Finally, Reston Wealth Management LLC bought a new position in Meta Platforms in the third quarter valued at approximately $61,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, COO Javier Olivan sold 4,706 shares of Meta Platforms stock in a transaction that occurred on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total value of $3,466,769.02. Following the sale, the chief operating officer now owns 20,935 shares of the company’s stock, valued at approximately $15,422,186.45. The trade was a 18.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Andrew Bosworth sold 5,060 shares of the stock in a transaction on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total value of $3,727,550.20. Following the transaction, the chief technology officer now directly owns 5,139 shares of the company’s stock, valued at approximately $3,785,747.13. This trade represents a 49.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 813,030 shares of company stock worth $525,952,077. 13.71% of the stock is owned by company insiders.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $673.70 on Thursday. Meta Platforms, Inc. has a 52 week low of $414.50 and a 52 week high of $740.91. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The business has a 50 day moving average price of $650.26 and a 200-day moving average price of $594.62. The company has a market cap of $1.71 trillion, a PE ratio of 28.16, a price-to-earnings-growth ratio of 1.42 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, beating the consensus estimate of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same quarter in the previous year, the firm posted $5.33 EPS. Equities analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.31%. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, March 14th. Meta Platforms’s dividend payout ratio (DPR) is presently 8.78%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on META. Monness Crespi & Hardt raised their target price on Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Barclays boosted their target price on Meta Platforms from $630.00 to $705.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Cantor Fitzgerald lifted their price target on shares of Meta Platforms from $720.00 to $790.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Rosenblatt Securities reiterated a “buy” rating and set a $811.00 price objective on shares of Meta Platforms in a research report on Monday, January 27th. Finally, KeyCorp boosted their target price on shares of Meta Platforms from $700.00 to $750.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $719.26.

About Meta Platforms

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.