Stonebrook Private Inc. Buys Shares of 3,783 Meta Platforms, Inc. (NASDAQ:META)

Stonebrook Private Inc. bought a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,783 shares of the social networking company’s stock, valued at approximately $1,339,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Addison Advisors LLC increased its holdings in shares of Meta Platforms by 3.9% during the fourth quarter. Addison Advisors LLC now owns 670 shares of the social networking company’s stock valued at $237,000 after acquiring an additional 25 shares in the last quarter. WoodTrust Financial Corp increased its holdings in Meta Platforms by 1.8% in the 4th quarter. WoodTrust Financial Corp now owns 1,547 shares of the social networking company’s stock worth $548,000 after buying an additional 27 shares in the last quarter. Tennessee Valley Asset Management Partners increased its holdings in Meta Platforms by 0.6% in the 4th quarter. Tennessee Valley Asset Management Partners now owns 4,566 shares of the social networking company’s stock worth $1,616,000 after buying an additional 27 shares in the last quarter. Peterson Wealth Advisors LLC increased its holdings in Meta Platforms by 1.9% in the 4th quarter. Peterson Wealth Advisors LLC now owns 1,468 shares of the social networking company’s stock worth $520,000 after buying an additional 28 shares in the last quarter. Finally, Edge Wealth Management LLC increased its holdings in Meta Platforms by 4.0% in the 4th quarter. Edge Wealth Management LLC now owns 730 shares of the social networking company’s stock worth $258,000 after buying an additional 28 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

META has been the subject of several research analyst reports. Robert W. Baird reduced their price objective on Meta Platforms from $525.00 to $500.00 and set an “outperform” rating for the company in a report on Thursday. Canaccord Genuity Group reduced their price objective on Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a report on Thursday. UBS Group reduced their price objective on Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a report on Thursday. Wolfe Research reduced their price objective on Meta Platforms from $530.00 to $500.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Bank of America raised their target price on Meta Platforms from $425.00 to $510.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $509.18.

Meta Platforms Price Performance

NASDAQ:META traded up $1.91 during trading hours on Friday, reaching $443.29. The stock had a trading volume of 32,645,619 shares, compared to its average volume of 18,233,678. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.67 and a current ratio of 2.68. Meta Platforms, Inc. has a 52 week low of $229.85 and a 52 week high of $531.49. The company has a 50 day moving average price of $494.48 and a two-hundred day moving average price of $404.85. The stock has a market capitalization of $1.13 trillion, a PE ratio of 25.46, a PEG ratio of 1.13 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The business had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 20.2 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, February 22nd were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend was Wednesday, February 21st. Meta Platforms’s payout ratio is 11.49%.

Insiders Place Their Bets

In other Meta Platforms news, CEO Mark Zuckerberg sold 97,093 shares of Meta Platforms stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $469.67, for a total value of $45,601,669.31. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $491.25, for a total transaction of $287,381.25. Following the transaction, the insider now owns 37,228 shares of the company’s stock, valued at approximately $18,288,255. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 97,093 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $469.67, for a total value of $45,601,669.31. The disclosure for this sale can be found here. Insiders have sold a total of 1,349,148 shares of company stock valued at $649,552,559 in the last quarter. 13.75% of the stock is currently owned by insiders.

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.