Parcion Private Wealth LLC Acquires 24 Shares of Meta Platforms, Inc. (NASDAQ:META)

Parcion Private Wealth LLC increased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 0.7% in the 4th quarter, Holdings Channel reports. 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 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Bear Mountain Capital Inc. purchased a new stake in shares of Meta Platforms during the fourth quarter worth $70,000. Dash Acquisitions Inc. raised its stake in shares of Meta Platforms by 2.4% during the 4th quarter. Dash Acquisitions Inc. now owns 62,053 shares of the social networking company’s stock valued at $36,333,000 after purchasing an additional 1,468 shares during the period. Aspect Partners LLC lifted its holdings in Meta Platforms by 32.9% during the 4th quarter. Aspect Partners LLC now owns 214 shares of the social networking company’s stock worth $125,000 after purchasing an additional 53 shares in the last quarter. Citizens National Bank Trust Department boosted its stake in Meta Platforms by 4.4% in the 4th quarter. Citizens National Bank Trust Department now owns 4,310 shares of the social networking company’s stock worth $2,524,000 after purchasing an additional 181 shares during the period. Finally, Able Wealth Management LLC purchased a new position in Meta Platforms during the 4th quarter valued at about $223,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Stock Performance

Shares of META stock opened at $673.70 on Thursday. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The company’s fifty day moving average price is $650.26 and its 200-day moving average price is $594.62. The stock 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, Inc. has a 12 month low of $414.50 and a 12 month high of $740.91.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping the consensus estimate of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same quarter last year, the company earned $5.33 EPS. On average, equities analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

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

Insider Activity at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $595.00, for a total value of $538,475.00. Following the transaction, the insider now owns 36,535 shares in the company, valued at $21,738,325. The trade was a 2.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Andrew Bosworth sold 5,060 shares of the firm’s stock in a transaction dated Saturday, February 15th. The shares were sold at an average price of $736.67, for a total transaction of $3,727,550.20. Following the sale, the chief technology officer now owns 5,139 shares of the company’s stock, valued at approximately $3,785,747.13. This represents a 49.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 813,030 shares of company stock valued at $525,952,077 in the last 90 days. Corporate insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

META has been the subject of a number of analyst reports. Royal Bank of Canada raised their price objective on shares of Meta Platforms from $700.00 to $800.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Bank of America raised their price target on shares of Meta Platforms from $710.00 to $765.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Scotiabank upped their price target on shares of Meta Platforms from $583.00 to $627.00 and gave the stock a “sector perform” rating in a report on Thursday, January 30th. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research note on Monday, January 27th. Finally, JPMorgan Chase & Co. upped their target price on Meta Platforms from $660.00 to $725.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.