SevenBridge Financial Group LLC Buys 483 Shares of Meta Platforms, Inc. (NASDAQ:META)

SevenBridge Financial Group LLC increased its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 4.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,646 shares of the social networking company’s stock after purchasing an additional 483 shares during the period. Meta Platforms makes up 1.3% of SevenBridge Financial Group LLC’s investment portfolio, making the stock its 15th largest holding. SevenBridge Financial Group LLC’s holdings in Meta Platforms were worth $6,819,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in META. Howard Capital Management Group LLC boosted its holdings in shares of Meta Platforms by 17.9% in the third quarter. Howard Capital Management Group LLC now owns 1,652 shares of the social networking company’s stock worth $946,000 after buying an additional 251 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Meta Platforms by 6.5% during the 3rd quarter. Principal Financial Group Inc. now owns 3,368,361 shares of the social networking company’s stock valued at $1,928,185,000 after acquiring an additional 204,412 shares during the period. United Bank grew its position in shares of Meta Platforms by 22.2% during the 3rd quarter. United Bank now owns 5,569 shares of the social networking company’s stock valued at $3,188,000 after acquiring an additional 1,011 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Meta Platforms in the 3rd quarter worth $625,000. Finally, Atom Investors LP raised its holdings in Meta Platforms by 25.9% in the 3rd quarter. Atom Investors LP now owns 5,262 shares of the social networking company’s stock worth $3,012,000 after purchasing an additional 1,081 shares during the period. Institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In related news, CFO Susan J. Li sold 8,553 shares of the stock in a transaction that occurred on Saturday, February 15th. The shares were 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 of the company’s stock, valued at $38,154,349.31. This trade represents a 14.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Javier Olivan sold 4,706 shares of the business’s stock in a transaction that occurred on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total transaction of $3,466,769.02. Following the sale, the chief operating officer now directly owns 20,935 shares in the company, valued at approximately $15,422,186.45. This represents a 18.35 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 583,505 shares of company stock valued at $385,495,911. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Up 1.7 %

Shares of META opened at $586.00 on Wednesday. The firm has a fifty day moving average price of $653.89 and a 200-day moving average price of $610.68. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $1.48 trillion, a P/E ratio of 24.50, a P/E/G ratio of 1.42 and a beta of 1.28. Meta Platforms, Inc. has a 12-month low of $414.50 and a 12-month high of $740.91.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarter last year, the business posted $5.33 earnings per share. Equities research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Friday, March 14th were paid a $0.525 dividend. The ex-dividend date was Friday, March 14th. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a yield of 0.36%. Meta Platforms’s dividend payout ratio is 8.78%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on META shares. JMP Securities restated a “market outperform” rating and issued a $750.00 price target on shares of Meta Platforms in a research report on Monday, January 27th. Morgan Stanley increased their target price on shares of Meta Platforms from $600.00 to $660.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Susquehanna lifted their price target on shares of Meta Platforms from $675.00 to $800.00 and gave the company a “positive” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. raised their price objective on shares of Meta Platforms from $660.00 to $725.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Finally, Jefferies Financial Group dropped their target price on shares of Meta Platforms from $810.00 to $725.00 and set a “buy” rating for the company in a report on Monday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average target price of $718.55.

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.