NWK Group Inc. Has $7.08 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

NWK Group Inc. grew its position in Meta Platforms, Inc. (NASDAQ:META) by 0.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,096 shares of the social networking company’s stock after buying an additional 76 shares during the quarter. Meta Platforms accounts for about 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.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Millstone Evans Group LLC bought a new position in Meta Platforms during the 4th quarter worth $40,000. Avondale Wealth Management acquired a new stake in shares of Meta Platforms during the 4th quarter worth approximately $41,000. WealthTrak Capital Management LLC acquired a new position in shares of Meta Platforms during the fourth quarter valued at about $43,000. Cordant Inc. bought a new position in Meta Platforms in the fourth quarter worth approximately $59,000. Finally, Conquis Financial LLC bought a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $59,000. Institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $618.00, for a total value of $559,290.00. Following the sale, the insider now owns 30,200 shares in the company, valued at approximately $18,663,600. The trade was a 2.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 35,921 shares of the stock in a transaction on Wednesday, January 22nd. The shares were 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 379,901 shares of company stock valued at $260,806,516 in the last 90 days. Insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

NASDAQ META opened at $501.48 on Friday. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 12 month low of $414.50 and a 12 month high of $740.91. The stock has a market cap of $1.27 trillion, a price-to-earnings ratio of 20.96, a PEG ratio of 1.42 and a beta of 1.28. The company’s 50 day moving average is $608.14 and its two-hundred day moving average is $606.80.

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

Meta Platforms Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were paid a $0.525 dividend. The ex-dividend date was Friday, March 14th. This represents a $2.10 annualized dividend and a yield of 0.42%. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s payout ratio is presently 8.78%.

Wall Street Analyst Weigh In

META has been the subject of a number of recent research reports. Morgan Stanley decreased their price target on shares of Meta Platforms from $660.00 to $615.00 and set an “overweight” rating for the company in a research note on Thursday. JMP Securities reiterated a “market outperform” rating and set a $750.00 price target on shares of Meta Platforms in a research note on Monday, January 27th. Citigroup dropped their target price on Meta Platforms from $780.00 to $655.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Wolfe Research raised their price objective on Meta Platforms from $670.00 to $730.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Finally, Robert W. Baird upped their target price on Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and an average price target of $684.10.

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.