Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Prossimo Advisors LLC

Prossimo Advisors LLC grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 39.6% during the fourth quarter, Holdings Channel reports. The firm owned 1,357 shares of the social networking company’s stock after acquiring an additional 385 shares during the quarter. Prossimo Advisors LLC’s holdings in Meta Platforms were worth $795,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. AMF Tjanstepension AB grew its holdings in shares of Meta Platforms by 32.5% during the third quarter. AMF Tjanstepension AB now owns 457,092 shares of the social networking company’s stock valued at $261,680,000 after purchasing an additional 112,047 shares during the last quarter. Howard Capital Management Group LLC lifted its holdings in shares of Meta Platforms by 17.9% in the 3rd quarter. Howard Capital Management Group LLC now owns 1,652 shares of the social networking company’s stock worth $946,000 after purchasing an additional 251 shares during the last quarter. Woodard & Co. Asset Management Group Inc. ADV boosted its position in Meta Platforms by 13.7% during the 3rd quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 853 shares of the social networking company’s stock valued at $488,000 after purchasing an additional 103 shares during the period. Zweig DiMenna Associates LLC grew its stake in Meta Platforms by 0.3% during the 3rd quarter. Zweig DiMenna Associates LLC now owns 68,702 shares of the social networking company’s stock worth $39,328,000 after buying an additional 200 shares during the last quarter. Finally, Dakota Wealth Management increased its position in Meta Platforms by 4.9% in the third quarter. Dakota Wealth Management now owns 100,448 shares of the social networking company’s stock worth $57,501,000 after buying an additional 4,735 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $668.13 on Tuesday. The stock has a market cap of $1.69 trillion, a PE ratio of 27.93, a price-to-earnings-growth ratio of 1.42 and a beta of 1.20. Meta Platforms, Inc. has a 12 month low of $414.50 and a 12 month high of $740.91. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The business has a fifty day simple moving average of $647.97 and a 200-day simple moving average of $593.08.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping 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 quarter last year, the firm posted $5.33 earnings per share. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be paid a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.31%. The ex-dividend date is Friday, March 14th. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio is currently 8.78%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Tigress Financial reissued a “strong-buy” rating on shares of Meta Platforms in a report on Tuesday, February 11th. Pivotal Research upped their target price on shares of Meta Platforms from $800.00 to $875.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Bank of America raised their price target on shares of Meta Platforms from $710.00 to $765.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. UBS Group boosted their price objective on Meta Platforms from $736.00 to $786.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Finally, Jefferies Financial Group raised their target price on Meta Platforms from $675.00 to $715.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $719.26.

Insider Buying and Selling at Meta Platforms

In related news, CEO Mark Zuckerberg sold 35,921 shares of Meta Platforms stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $607.97, for a total transaction of $21,838,890.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Susan J. Li sold 8,553 shares of the company’s stock in a transaction dated Saturday, February 15th. The stock was sold at an average price of $736.67, for a total value of $6,300,738.51. Following the completion of the transaction, the chief financial officer now directly owns 51,793 shares in the company, valued at approximately $38,154,349.31. The trade was a 14.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 812,422 shares of company stock valued at $525,534,818 in the last quarter. Company insiders own 13.71% of the company’s stock.

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.