Prosperitas Financial LLC Acquires 121 Shares of Meta Platforms, Inc. (NASDAQ:META)

Prosperitas Financial LLC increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,235 shares of the social networking company’s stock after acquiring an additional 121 shares during the period. Meta Platforms makes up 2.1% of Prosperitas Financial LLC’s investment portfolio, making the stock its 16th largest holding. Prosperitas Financial LLC’s holdings in Meta Platforms were worth $2,915,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of META. Vanguard Group Inc. raised its holdings in Meta Platforms by 1.0% in the third quarter. Vanguard Group Inc. now owns 183,244,796 shares of the social networking company’s stock worth $55,011,920,000 after buying an additional 1,733,182 shares during the last quarter. FMR LLC raised its stake in shares of Meta Platforms by 4.0% in the third quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock valued at $39,270,443,000 after acquiring an additional 5,001,647 shares during the period. Morgan Stanley raised its stake in shares of Meta Platforms by 3.4% in the third quarter. Morgan Stanley now owns 36,277,772 shares of the social networking company’s stock valued at $10,890,950,000 after acquiring an additional 1,184,978 shares during the period. Norges Bank purchased a new stake in shares of Meta Platforms in the fourth quarter valued at $4,223,148,000. Finally, Northern Trust Corp raised its stake in shares of Meta Platforms by 4.3% in the third quarter. Northern Trust Corp now owns 23,003,927 shares of the social networking company’s stock valued at $6,906,009,000 after acquiring an additional 946,871 shares during the period. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

Shares of NASDAQ:META traded up $1.13 during midday trading on Tuesday, hitting $501.36. 3,360,768 shares of the stock were exchanged, compared to its average volume of 17,055,941. The stock has a market cap of $1.28 trillion, a P/E ratio of 33.64, a PEG ratio of 1.31 and a beta of 1.20. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a twelve month low of $207.13 and a twelve month high of $531.49. The company has a 50 day moving average price of $492.26 and a 200-day moving average price of $394.61.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Thursday, February 1st. The social networking company reported $5.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.82 by $0.51. The business had revenue of $40.11 billion during the quarter, compared to the consensus estimate of $39.12 billion. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. The business’s revenue was up 24.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.00 EPS. On average, research analysts forecast that Meta Platforms, Inc. will post 20.06 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Wednesday, February 21st. Meta Platforms’s dividend payout ratio (DPR) is presently 13.42%.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $522.00, for a total value of $305,370.00. Following the completion of the transaction, the insider now owns 38,398 shares of the company’s stock, valued at approximately $20,043,756. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total value of $305,370.00. Following the completion of the sale, the insider now owns 38,398 shares in the company, valued at approximately $20,043,756. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Andrew Bosworth sold 8,036 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $473.28, for a total value of $3,803,278.08. Following the sale, the chief technology officer now owns 18,432 shares of the company’s stock, valued at approximately $8,723,496.96. The disclosure for this sale can be found here. Insiders sold 1,459,469 shares of company stock valued at $691,726,161 in the last 90 days. 14.03% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on META. JMP Securities boosted their price objective on shares of Meta Platforms from $410.00 to $500.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Stifel Nicolaus upped their target price on shares of Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft upped their target price on shares of Meta Platforms from $450.00 to $525.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Barclays upped their target price on shares of Meta Platforms from $400.00 to $550.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Finally, Bank of America upped their target price on shares of Meta Platforms from $425.00 to $510.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirty-eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $509.28.

Meta Platforms Company 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.