Rezny Wealth Management Inc. Invests $1.26 Million in Meta Platforms, Inc. (NASDAQ:META)

Rezny Wealth Management Inc. bought a new stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 2,595 shares of the social networking company's stock, valued at approximately $1,260,000. Meta Platforms accounts for approximately 0.4% of Rezny Wealth Management Inc.'s investment portfolio, making the stock its 14th biggest holding.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Stone House Investment Management LLC raised its holdings in Meta Platforms by 625.0% in the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company's stock valued at $26,000 after acquiring an additional 75 shares in the last quarter. Beaird Harris Wealth Management LLC lifted its position in Meta Platforms by 68.9% in the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company's stock worth $31,000 after purchasing an additional 42 shares during the period. Quest Partners LLC bought a new position in Meta Platforms in the fourth quarter worth $32,000. Clear Investment Research LLC boosted its stake in Meta Platforms by 411.1% during the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company's stock worth $33,000 after buying an additional 74 shares in the last quarter. Finally, Cranbrook Wealth Management LLC increased its holdings in Meta Platforms by 80.4% in the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company's stock valued at $36,000 after buying an additional 45 shares during the period. Institutional investors and hedge funds own 79.91% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on META. UBS Group lowered their price target on Meta Platforms from $610.00 to $575.00 and set a "buy" rating on the stock in a research report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Meta Platforms from $540.00 to $500.00 and set a "buy" rating for the company in a research report on Thursday, April 25th. Stifel Nicolaus boosted their price target on shares of Meta Platforms from $527.00 to $588.00 and gave the company a "buy" rating in a research report on Tuesday, April 16th. Benchmark reaffirmed a "hold" rating on shares of Meta Platforms in a report on Monday, April 22nd. Finally, BNP Paribas started coverage on Meta Platforms in a report on Thursday, May 2nd. They issued an "underperform" rating and a $360.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $510.05.

Insider Activity

In other Meta Platforms news, CEO Mark Zuckerberg sold 31,465 shares of the firm's stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $491.49, for a total transaction of $15,464,732.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Javier Olivan sold 412 shares of the business's stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $472.70, for a total value of $194,752.40. Following the completion of the sale, the chief operating officer now owns 15,376 shares of the company's stock, valued at $7,268,235.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 31,465 shares of Meta Platforms stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $491.49, for a total transaction of $15,464,732.85. The disclosure for this sale can be found here. Insiders have sold 232,607 shares of company stock valued at $113,147,760 over the last ninety days. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Stock Up 0.5 %

META stock traded up $2.52 during mid-day trading on Wednesday, reaching $513.12. The company had a trading volume of 8,450,940 shares, compared to its average volume of 16,499,006. Meta Platforms, Inc. has a 52 week low of $274.38 and a 52 week high of $531.49. The company has a market capitalization of $1.30 trillion, a price-to-earnings ratio of 29.47, a PEG ratio of 1.33 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. The stock has a 50 day simple moving average of $479.18 and a two-hundred day simple moving average of $452.22.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating analysts' consensus estimates of $4.32 by $0.39. The company had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. As a group, equities analysts predict that Meta Platforms, Inc. will post 20.16 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.39%. Meta Platforms's dividend payout ratio is currently 11.49%.

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.

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