Overbrook Management Corp increased its position in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 31.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 35,548 shares of the social networking company’s stock after buying an additional 8,466 shares during the period. Meta Platforms accounts for 4.5% of Overbrook Management Corp’s holdings, making the stock its 8th biggest position. Overbrook Management Corp’s holdings in Meta Platforms were worth $20,814,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the company. JDM Financial Group LLC acquired a new position in Meta Platforms during the third quarter worth $30,000. Safe Harbor Fiduciary LLC acquired a new position in Meta Platforms during the third quarter worth $36,000. Avondale Wealth Management acquired a new position in Meta Platforms during the fourth quarter worth $41,000. Halpern Financial Inc. acquired a new position in Meta Platforms during the third quarter worth $46,000. Finally, West Financial Advisors LLC acquired a new position in Meta Platforms during the third quarter worth $49,000. 79.91% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other news, CEO Mark Zuckerberg sold 35,921 shares of the business’s stock in a transaction that occurred 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Javier Olivan sold 413 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $574.16, for a total transaction of $237,128.08. Following the completion of the sale, the chief operating officer now owns 10,707 shares of the company’s stock, valued at approximately $6,147,531.12. This trade represents a 3.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 567,111 shares of company stock worth $345,453,784 over the last 90 days. 13.71% of the stock is owned by insiders.
Analysts Set New Price Targets
Get Our Latest Stock Report on Meta Platforms
Meta Platforms Stock Up 1.1 %
Shares of Meta Platforms stock opened at $623.50 on Thursday. Meta Platforms, Inc. has a 52-week low of $382.08 and a 52-week high of $638.40. The company has a 50 day moving average of $598.87 and a 200 day moving average of $558.76. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $1.57 trillion, a P/E ratio of 29.37, a P/E/G ratio of 1.16 and a beta of 1.19.
Meta Platforms (NASDAQ:META – Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The company had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. As a group, research analysts forecast that Meta Platforms, Inc. will post 22.96 EPS for the current fiscal year.
Meta Platforms Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were paid a $0.50 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.32%. Meta Platforms’s dividend payout ratio is currently 9.42%.
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.
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