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

Brooklyn FI LLC boosted its position in Meta Platforms, Inc. (NASDAQ:META) by 6,288.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,712 shares of the social networking company’s stock after buying an additional 35,153 shares during the period. Brooklyn FI LLC’s holdings in Meta Platforms were worth $20,950,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of META. JDM Financial Group LLC purchased a new stake in shares of Meta Platforms during the 3rd quarter worth $30,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Meta Platforms during the 3rd quarter worth $36,000. Avondale Wealth Management purchased a new stake in shares of Meta Platforms during the 4th quarter worth $41,000. Cordant Inc. purchased a new stake in shares of Meta Platforms during the 4th quarter worth $59,000. Finally, Bear Mountain Capital Inc. purchased a new stake in shares of Meta Platforms during the 4th quarter worth $70,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Meta Platforms

In other 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 completion of 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $602.47, for a total transaction of $545,235.35. Following the sale, the insider now directly owns 33,820 shares of the company’s stock, valued at $20,375,535.40. The trade was a 2.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 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 Stock Up 1.7 %

Shares of NASDAQ:META opened at $596.25 on Friday. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 52-week low of $414.50 and a 52-week high of $740.91. The company has a 50 day moving average of $655.38 and a two-hundred day moving average of $605.08. The company has a market capitalization of $1.51 trillion, a price-to-earnings ratio of 24.93, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (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 in the prior year, the business earned $5.33 earnings per share. As a group, analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be given a $0.525 dividend. This is an increase 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

Several equities research analysts have commented on the stock. Cantor Fitzgerald boosted their target price on shares of Meta Platforms from $720.00 to $790.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Arete Research upgraded shares of Meta Platforms to a “hold” rating in a research report on Friday, January 24th. BMO Capital Markets boosted their price objective on shares of Meta Platforms from $530.00 to $610.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Rosenblatt Securities reiterated a “buy” rating and issued a $811.00 price objective on shares of Meta Platforms in a research report on Monday, January 27th. Finally, Morgan Stanley boosted their price objective on shares of Meta Platforms from $600.00 to $660.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.