Brooklyn FI LLC Grows Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Brooklyn FI LLC grew its holdings in Meta Platforms, Inc. (NASDAQ:META) by 6,288.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,712 shares of the social networking company’s stock after acquiring an additional 35,153 shares during the period. Brooklyn FI LLC’s holdings in Meta Platforms were worth $20,950,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in META. JDM Financial Group LLC purchased a new stake in shares of Meta Platforms in the 3rd quarter valued at $30,000. Safe Harbor Fiduciary LLC purchased a new stake in Meta Platforms during the third quarter worth $36,000. Avondale Wealth Management purchased a new stake in Meta Platforms during the fourth quarter worth $41,000. Cordant Inc. purchased a new stake in Meta Platforms during the fourth quarter worth $59,000. Finally, Bear Mountain Capital Inc. purchased a new stake in Meta Platforms during the fourth quarter worth $70,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $590.00, for a total transaction of $243,670.00. Following the sale, the chief operating officer now owns 17,927 shares of the company’s stock, valued at approximately $10,576,930. This trade represents a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 35,921 shares of Meta Platforms stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $604.46, for a total transaction of $21,712,807.66. The disclosure for this sale can be found here. Insiders have sold a total of 622,844 shares of company stock valued at $409,212,161 over the last 90 days. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Trading Up 1.7 %

NASDAQ META opened at $596.25 on Friday. The firm has a 50 day simple moving average of $655.38 and a 200-day simple moving average of $605.08. 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 one year low of $414.50 and a one year high of $740.91. The firm has a market cap of $1.51 trillion, a price-to-earnings ratio of 24.93, a PEG ratio of 1.42 and a beta of 1.23.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating the consensus estimate of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same period last year, the business earned $5.33 earnings per share. Equities research analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be issued a $0.525 dividend. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, March 14th. This represents a $2.10 annualized dividend and a yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) is 8.78%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Wolfe Research increased their price target on shares of Meta Platforms from $670.00 to $730.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Tigress Financial reissued a “strong-buy” rating on shares of Meta Platforms in a report on Tuesday, February 11th. Wells Fargo & Company increased their price target on shares of Meta Platforms from $685.00 to $752.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. UBS Group upped their price objective on shares of Meta Platforms from $736.00 to $786.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Finally, Argus set a $775.00 price objective on shares of Meta Platforms in a research report on Tuesday, February 4th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $718.31.

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.