Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by SevenBridge Financial Group LLC

SevenBridge Financial Group LLC increased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 4.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 11,646 shares of the social networking company’s stock after buying an additional 483 shares during the period. Meta Platforms accounts for about 1.3% of SevenBridge Financial Group LLC’s portfolio, making the stock its 15th biggest position. SevenBridge Financial Group LLC’s holdings in Meta Platforms were worth $6,819,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. JDM Financial Group LLC acquired a new stake in Meta Platforms during the third quarter worth about $30,000. Safe Harbor Fiduciary LLC purchased a new stake in Meta Platforms in the 3rd quarter worth approximately $36,000. Millstone Evans Group LLC acquired a new stake in shares of Meta Platforms during the 4th quarter worth approximately $40,000. Avondale Wealth Management purchased a new position in shares of Meta Platforms during the 4th quarter valued at approximately $41,000. Finally, WealthTrak Capital Management LLC purchased a new position in shares of Meta Platforms during the 4th quarter valued at approximately $43,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. JMP Securities restated a “market outperform” rating and set a $750.00 price target on shares of Meta Platforms in a research report on Monday, January 27th. Pivotal Research lifted their price target on Meta Platforms from $800.00 to $875.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Tigress Financial reiterated a “strong-buy” rating on shares of Meta Platforms in a research report on Tuesday, February 11th. Wells Fargo & Company boosted their price objective on Meta Platforms from $685.00 to $752.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Finally, BMO Capital Markets increased their target price on Meta Platforms from $530.00 to $610.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus target price of $718.55.

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 35,921 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $603.98, for a total value of $21,695,565.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher K. Cox sold 20,000 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $677.71, for a total value of $13,554,200.00. Following the completion of the sale, the insider now owns 308,686 shares in the company, valued at approximately $209,199,589.06. The trade was a 6.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 583,505 shares of company stock worth $385,495,911. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Stock Up 1.7 %

Meta Platforms stock opened at $586.00 on Wednesday. The company has a market capitalization of $1.48 trillion, a PE ratio of 24.50, a price-to-earnings-growth ratio of 1.42 and a beta of 1.28. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. Meta Platforms, Inc. has a fifty-two week low of $414.50 and a fifty-two week high of $740.91. The firm has a 50 day moving average price of $653.89 and a 200 day moving average price of $610.68.

Meta Platforms (NASDAQ:META) last issued 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 period in the previous year, the firm earned $5.33 earnings per share. Research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.36%. The ex-dividend date was Friday, March 14th. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio is currently 8.78%.

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.