Pinnacle Financial Partners Inc Boosts Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Pinnacle Financial Partners Inc raised its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 5.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 38,788 shares of the social networking company's stock after buying an additional 1,909 shares during the quarter. Pinnacle Financial Partners Inc's holdings in Meta Platforms were worth $22,311,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. UBS Group increased their price objective on Meta Platforms from $736.00 to $786.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. Tigress Financial reissued a "strong-buy" rating on shares of Meta Platforms in a research report on Tuesday, February 11th. BMO Capital Markets lifted their price objective on shares of Meta Platforms from $530.00 to $610.00 and gave the stock a "market perform" rating in a report on Thursday, January 30th. KeyCorp increased their target price on shares of Meta Platforms from $700.00 to $750.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. Finally, Wells Fargo & Company raised their price target on shares of Meta Platforms from $685.00 to $752.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued 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 an average target price of $719.26.

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Insider Transactions at Meta Platforms

In related news, CTO Andrew Bosworth sold 5,060 shares of the company's stock in a transaction that occurred on Saturday, February 15th. The stock was 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 represents a 49.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Christopher K. Cox sold 20,000 shares of Meta Platforms stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $677.71, for a total value of $13,554,200.00. Following the completion of the sale, the insider now directly owns 308,686 shares of the company's stock, valued at approximately $209,199,589.06. The trade was a 6.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 796,712 shares of company stock valued at $517,503,564 in the last ninety days. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Stock Down 1.6 %

Shares of NASDAQ:META traded down $10.56 during trading on Tuesday, hitting $644.49. The stock had a trading volume of 15,933,554 shares, compared to its average volume of 13,629,500. The company has a market capitalization of $1.63 trillion, a PE ratio of 26.94, a PEG ratio of 1.42 and a beta of 1.20. 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 firm's fifty day moving average is $654.28 and its 200 day moving average is $597.91. Meta Platforms, Inc. has a 12 month low of $414.50 and a 12 month high of $740.91.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 EPS 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 last year, the company earned $5.33 earnings per share. Analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.525 per share. 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. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.33%. Meta Platforms's dividend payout ratio (DPR) is currently 8.78%.

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.