NWK Group Inc. Grows Position in Meta Platforms, Inc. (NASDAQ:META)

NWK Group Inc. grew its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,096 shares of the social networking company’s stock after acquiring an additional 76 shares during the quarter. Meta Platforms accounts for approximately 2.7% of NWK Group Inc.’s portfolio, making the stock its 16th largest holding. NWK Group Inc.’s holdings in Meta Platforms were worth $7,082,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in META. Seelaus Asset Management LLC increased its stake in Meta Platforms by 0.9% in the 4th quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company’s stock valued at $960,000 after buying an additional 15 shares during the period. Meredith Wealth Planning increased its stake in shares of Meta Platforms by 0.8% in the fourth quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company’s stock worth $1,097,000 after acquiring an additional 15 shares during the last quarter. Maiden Cove Capital LLC raised its holdings in shares of Meta Platforms by 3.2% during the fourth quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company’s stock worth $282,000 after acquiring an additional 15 shares in the last quarter. Riverwater Partners LLC boosted its position in Meta Platforms by 2.7% during the fourth quarter. Riverwater Partners LLC now owns 572 shares of the social networking company’s stock valued at $335,000 after purchasing an additional 15 shares during the last quarter. Finally, Stephens Consulting LLC grew its stake in Meta Platforms by 5.3% in the fourth quarter. Stephens Consulting LLC now owns 317 shares of the social networking company’s stock valued at $186,000 after purchasing an additional 16 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on META shares. Wedbush cut their price objective on shares of Meta Platforms from $770.00 to $680.00 and set an “outperform” rating on the stock in a research report on Tuesday. Pivotal Research lifted their price objective on shares of Meta Platforms from $800.00 to $875.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. UBS Group lowered their target price on shares of Meta Platforms from $786.00 to $650.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Piper Sandler reduced their price target on Meta Platforms from $775.00 to $610.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Finally, Royal Bank of Canada increased their price objective on Meta Platforms from $700.00 to $800.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and an average target price of $684.10.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 608 shares of the firm’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $488.18, for a total transaction of $296,813.44. Following the completion of the sale, the chief operating officer now owns 5,622 shares of the company’s stock, valued at $2,744,547.96. This trade represents a 9.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jennifer Newstead sold 921 shares of the firm’s stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $531.22, for a total transaction of $489,253.62. Following the sale, the insider now owns 28,419 shares of the company’s stock, valued at approximately $15,096,741.18. This represents a 3.14 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 379,901 shares of company stock worth $260,806,516. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

META opened at $501.48 on Friday. The company has a fifty day moving average price of $608.14 and a two-hundred day moving average price of $606.80. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The firm has a market capitalization of $1.27 trillion, a PE ratio of 20.96, a P/E/G ratio of 1.42 and a beta of 1.28. Meta Platforms, Inc. has a 52 week low of $414.50 and a 52 week high of $740.91.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, topping analysts’ consensus estimates 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 in the previous year, the business earned $5.33 EPS. As a group, analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.42%. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Friday, March 14th. Meta Platforms’s payout ratio is 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.