Renasant Bank Has $899,000 Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Renasant Bank cut its holdings in Meta Platforms, Inc. (NASDAQ:META) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,536 shares of the social networking company’s stock after selling 33 shares during the quarter. Renasant Bank’s holdings in Meta Platforms were worth $899,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of META. Seelaus Asset Management LLC grew its stake in shares of 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 worth $960,000 after acquiring an additional 15 shares in the last quarter. Meredith Wealth Planning grew its position in Meta Platforms by 0.8% in the 4th quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company’s stock worth $1,097,000 after purchasing an additional 15 shares in the last quarter. Stephens Consulting LLC increased its stake in Meta Platforms by 5.3% in the 4th quarter. Stephens Consulting LLC now owns 317 shares of the social networking company’s stock valued at $186,000 after buying an additional 16 shares during the last quarter. VeraBank N.A. lifted its position in shares of Meta Platforms by 0.8% during the 4th quarter. VeraBank N.A. now owns 1,954 shares of the social networking company’s stock worth $1,144,000 after buying an additional 16 shares in the last quarter. Finally, LGL Partners LLC boosted its stake in shares of Meta Platforms by 0.6% in the 4th quarter. LGL Partners LLC now owns 2,834 shares of the social networking company’s stock worth $1,659,000 after buying an additional 16 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Trading Down 0.4 %

NASDAQ META opened at $604.90 on Tuesday. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The stock’s 50-day simple moving average is $657.51 and its two-hundred day simple moving average is $604.41. Meta Platforms, Inc. has a twelve month low of $414.50 and a twelve month high of $740.91. The company has a market capitalization of $1.53 trillion, a price-to-earnings ratio of 25.29, a PEG ratio of 1.42 and a beta of 1.23.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the business posted $5.33 EPS. Research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be paid a $0.525 dividend. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.35%. Meta Platforms’s dividend payout ratio is 8.78%.

Insider Activity at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 4,706 shares of the company’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 $3,466,769.02. Following the completion of the sale, the chief operating officer now directly owns 20,935 shares in the company, valued at $15,422,186.45. This represents a 18.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 22,035 shares of Meta Platforms stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $618.63, for a total value of $13,631,512.05. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 653,450 shares of company stock valued at $427,997,036. Insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Tigress Financial reaffirmed a “strong-buy” rating on shares of Meta Platforms in a research report on Tuesday, February 11th. Jefferies Financial Group raised their target price on Meta Platforms from $675.00 to $715.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Cantor Fitzgerald boosted their price target on shares of Meta Platforms from $720.00 to $790.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Mizuho raised their price objective on shares of Meta Platforms from $675.00 to $750.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Finally, Royal Bank of Canada lifted their price objective on shares of Meta Platforms from $700.00 to $800.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Two 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 issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $719.26.

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.