Rezny Wealth Management Inc. Increases Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Rezny Wealth Management Inc. raised its position in Meta Platforms, Inc. (NASDAQ:META) by 1.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,171 shares of the social networking company’s stock after buying an additional 31 shares during the period. Meta Platforms comprises 0.5% of Rezny Wealth Management Inc.’s investment portfolio, making the stock its 17th biggest position. Rezny Wealth Management Inc.’s holdings in Meta Platforms were worth $1,857,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of META. JDM Financial Group LLC purchased a new stake in Meta Platforms in the 3rd quarter worth $30,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Meta Platforms in the third quarter valued at about $36,000. Avondale Wealth Management purchased a new stake in shares of Meta Platforms during the fourth quarter worth about $41,000. Halpern Financial Inc. acquired a new position in shares of Meta Platforms during the 3rd quarter worth about $46,000. Finally, West Financial Advisors LLC purchased a new position in Meta Platforms in the 3rd quarter valued at about $49,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on META. Bank of America increased their target price on Meta Platforms from $660.00 to $710.00 and gave the company a “buy” rating in a report on Thursday. Barclays raised their price objective on Meta Platforms from $550.00 to $630.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. upped their target price on shares of Meta Platforms from $660.00 to $725.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. JMP Securities raised their price target on shares of Meta Platforms from $660.00 to $750.00 and gave the stock a “market outperform” rating in a research note on Thursday, January 2nd. Finally, Cantor Fitzgerald dropped their price objective on shares of Meta Platforms from $730.00 to $720.00 and set an “overweight” rating for the company in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock 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. Meta Platforms, Inc. has a 52 week low of $385.66 and a 52 week high of $638.40. The firm has a 50 day moving average of $600.06 and a two-hundred day moving average of $559.30. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $1.61 trillion, a PE ratio of 29.98, a price-to-earnings-growth ratio of 1.16 and a beta of 1.19.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping 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 firm had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. As a group, research analysts expect that Meta Platforms, Inc. will post 22.96 EPS for the current fiscal year.

Meta Platforms Announces Dividend

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

Insider Activity at Meta Platforms

In other news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now owns 31,482 shares in the company, valued at approximately $18,262,708.20. This represents a 2.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Mark Zuckerberg sold 35,921 shares of Meta Platforms stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $626.80, for a total transaction of $22,515,282.80. The disclosure for this sale can be found here. Insiders sold 568,016 shares of company stock valued at $346,031,180 over the last three months. 13.71% of the stock is owned by corporate 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.