Meta Platforms, Inc. (NASDAQ:META) Stock Position Increased by Overbrook Management Corp

Overbrook Management Corp increased its position in shares of Meta Platforms, Inc. (NASDAQ:METAFree 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

A number of equities analysts have weighed in on META shares. JMP Securities upped their price objective on shares of Meta Platforms from $660.00 to $750.00 and gave the stock a “market outperform” rating in a research report on Thursday, January 2nd. Wedbush reissued an “outperform” rating and issued a $700.00 price target (up from $680.00) on shares of Meta Platforms in a research note on Wednesday. Truist Financial raised their price target on shares of Meta Platforms from $650.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Bank of America raised their price target on shares of Meta Platforms from $630.00 to $660.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Raymond James raised their price target on shares of Meta Platforms from $675.00 to $725.00 and gave the stock a “strong-buy” rating in a research note on Tuesday. Two equities 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $652.98.

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:METAGet 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

(Free Report)

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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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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