Overbrook Management Corp Increases Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Overbrook Management Corp raised its stake in Meta Platforms, Inc. (NASDAQ:META) by 31.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 35,548 shares of the social networking company’s stock after acquiring an additional 8,466 shares during the period. Meta Platforms makes up 4.5% of Overbrook Management Corp’s portfolio, making the stock its 8th largest holding. Overbrook Management Corp’s holdings in Meta Platforms were worth $20,814,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of META. International Assets Investment Management LLC increased its holdings in Meta Platforms by 57,001.5% in the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock valued at $5,447,975,000 after acquiring an additional 9,500,444 shares during the last quarter. Integrated Investment Consultants LLC increased its holdings in Meta Platforms by 61,769.3% in the 3rd quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock valued at $2,365,820,000 after acquiring an additional 4,126,190 shares during the last quarter. World Investment Advisors LLC increased its holdings in Meta Platforms by 4,658.5% in the 3rd quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock valued at $520,662,000 after acquiring an additional 890,434 shares during the last quarter. Geode Capital Management LLC increased its holdings in Meta Platforms by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock valued at $27,470,870,000 after acquiring an additional 698,884 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Meta Platforms by 926.6% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 733,358 shares of the social networking company’s stock valued at $369,774,000 after acquiring an additional 661,923 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Insider Activity

In other news, 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 value of $237,128.08. Following the sale, the chief operating officer now directly owns 10,707 shares of the company’s stock, valued at $6,147,531.12. This represents a 3.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 35,921 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $607.97, for a total transaction of $21,838,890.37. The disclosure for this sale can be found here. Insiders have sold 567,111 shares of company stock valued at $345,453,784 in the last ninety days. Insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

META has been the topic of a number of research reports. KeyCorp lifted their price target on shares of Meta Platforms from $655.00 to $700.00 and gave the company an “overweight” rating in a report on Friday, January 10th. Wolfe Research lifted their price objective on shares of Meta Platforms from $670.00 to $730.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Stifel Nicolaus lifted their price objective on shares of Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. The Goldman Sachs Group lifted their price objective on shares of Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, Monness Crespi & Hardt lifted their price objective on shares of Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $652.98.

Meta Platforms Stock Up 1.1 %

NASDAQ:META opened at $623.50 on Thursday. The company has a market cap of $1.57 trillion, a PE ratio of 29.37, a P/E/G ratio of 1.16 and a beta of 1.19. Meta Platforms, Inc. has a twelve month low of $382.08 and a twelve month high of $638.40. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The company’s 50 day moving average is $598.87 and its two-hundred day moving average is $558.76.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping the consensus estimate of $5.19 by $0.84. The company had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Analysts anticipate that Meta Platforms, Inc. will post 22.96 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.32%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s dividend payout ratio is presently 9.42%.

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.