Park Place Capital Corp Reduces Holdings in Meta Platforms, Inc. (NASDAQ:META)

Park Place Capital Corp cut its position in Meta Platforms, Inc. (NASDAQ:META) by 2.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,673 shares of the social networking company’s stock after selling 75 shares during the quarter. Park Place Capital Corp’s holdings in Meta Platforms were worth $2,151,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Lindenwold Advisors INC grew its stake in shares of Meta Platforms by 0.3% during the third quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock valued at $3,388,000 after acquiring an additional 17 shares in the last quarter. Insight Wealth Strategies LLC grew its stake in Meta Platforms by 1.6% during the 4th quarter. Insight Wealth Strategies LLC now owns 1,067 shares of the social networking company’s stock valued at $625,000 after purchasing an additional 17 shares in the last quarter. Steigerwald Gordon & Koch Inc. increased its holdings in Meta Platforms by 0.6% during the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 2,680 shares of the social networking company’s stock worth $1,569,000 after purchasing an additional 17 shares during the last quarter. Central Valley Advisors LLC increased its holdings in Meta Platforms by 0.3% during the 3rd quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock worth $3,271,000 after purchasing an additional 18 shares during the last quarter. Finally, Cherrydale Wealth Management LLC boosted its stake in shares of Meta Platforms by 0.5% during the 3rd quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock valued at $2,199,000 after buying an additional 18 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Trading Up 1.7 %

Shares of NASDAQ:META opened at $647.49 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The stock has a market capitalization of $1.63 trillion, a price-to-earnings ratio of 30.50, a PEG ratio of 1.18 and a beta of 1.19. Meta Platforms, Inc. has a 1-year low of $385.66 and a 1-year high of $652.00. The company has a 50 day moving average price of $601.93 and a 200 day moving average price of $560.12.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping the consensus estimate of $5.19 by $0.84. The business had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. On average, research analysts anticipate that Meta Platforms, Inc. will post 22.96 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 annualized dividend and a yield of 0.31%. Meta Platforms’s payout ratio is presently 9.42%.

Insider Buying and Selling at Meta Platforms

In related news, CEO Mark Zuckerberg sold 35,921 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $607.97, for a total value of $21,838,890.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $631.55, for a total transaction of $571,552.75. Following the sale, the insider now directly owns 32,010 shares in the company, valued at approximately $20,215,915.50. This trade represents a 2.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 568,016 shares of company stock valued at $346,031,180. 13.71% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Cantor Fitzgerald reduced their price objective on shares of Meta Platforms from $730.00 to $720.00 and set an “overweight” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. lifted their price target on Meta Platforms from $660.00 to $725.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Susquehanna upped their price objective on Meta Platforms from $600.00 to $675.00 and gave the company a “positive” rating in a research note on Thursday, October 31st. BMO Capital Markets lifted their target price on Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. Finally, UBS Group upped their price target on Meta Platforms from $690.00 to $719.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Two equities research 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average price target of $654.20.

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.