Meta Platforms, Inc. (NASDAQ:META) Stake Boosted by Brooklyn Investment Group

Brooklyn Investment Group raised its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,862 shares of the social networking company’s stock after purchasing an additional 54 shares during the quarter. Meta Platforms accounts for about 1.7% of Brooklyn Investment Group’s investment portfolio, making the stock its 6th largest position. Brooklyn Investment Group’s holdings in Meta Platforms were worth $5,073,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Cypress Asset Management Inc. TX lifted its holdings in shares of Meta Platforms by 541.8% in the first quarter. Cypress Asset Management Inc. TX now owns 3,819 shares of the social networking company’s stock worth $1,862,000 after buying an additional 3,224 shares in the last quarter. First City Capital Management Inc. lifted its holdings in shares of Meta Platforms by 1.7% in the first quarter. First City Capital Management Inc. now owns 1,499 shares of the social networking company’s stock worth $728,000 after buying an additional 25 shares in the last quarter. Cedar Point Capital Partners LLC lifted its holdings in shares of Meta Platforms by 11.6% in the first quarter. Cedar Point Capital Partners LLC now owns 681 shares of the social networking company’s stock worth $331,000 after buying an additional 71 shares in the last quarter. Burney Co. lifted its holdings in shares of Meta Platforms by 8.4% in the first quarter. Burney Co. now owns 68,805 shares of the social networking company’s stock worth $33,411,000 after buying an additional 5,307 shares in the last quarter. Finally, Austin Wealth Management LLC lifted its holdings in shares of Meta Platforms by 15.0% in the first quarter. Austin Wealth Management LLC now owns 1,535 shares of the social networking company’s stock worth $718,000 after buying an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Down 0.8 %

NASDAQ:META opened at $569.20 on Thursday. Meta Platforms, Inc. has a fifty-two week low of $313.66 and a fifty-two week high of $602.95. The stock has a market capitalization of $1.44 trillion, a P/E ratio of 26.81, a P/E/G ratio of 1.25 and a beta of 1.22. 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 company’s 50-day simple moving average is $574.12 and its 200-day simple moving average is $526.03.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The company had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. On average, equities analysts anticipate that Meta Platforms, Inc. will post 22.62 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Insider Buying and Selling

In other Meta Platforms news, CEO Mark Zuckerberg sold 492 shares of Meta Platforms stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $600.75, for a total transaction of $295,569.00. Following the completion of the sale, the chief executive officer now directly owns 518,508 shares in the company, valued at approximately $311,493,681. The trade was a 0.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $565.30, for a total transaction of $511,596.50. Following the sale, the insider now owns 37,790 shares of the company’s stock, valued at approximately $21,362,687. The trade was a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 111,561 shares of company stock worth $62,445,464 in the last three months. Corporate insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Barclays boosted their target price on shares of Meta Platforms from $550.00 to $630.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Truist Financial upped their price target on shares of Meta Platforms from $570.00 to $650.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Robert W. Baird upped their price target on shares of Meta Platforms from $605.00 to $630.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Morgan Stanley upped their price target on shares of Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, Evercore ISI upped their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus price target of $634.71.

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.