Newbridge Financial Services Group Inc. Boosts Holdings in Meta Platforms, Inc. (NASDAQ:META)

Newbridge Financial Services Group Inc. grew its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 16.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,683 shares of the social networking company’s stock after buying an additional 821 shares during the quarter. Meta Platforms accounts for 1.0% of Newbridge Financial Services Group Inc.’s investment portfolio, making the stock its 11th largest holding. Newbridge Financial Services Group Inc.’s holdings in Meta Platforms were worth $2,012,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Stone House Investment Management LLC boosted its position in shares of Meta Platforms by 625.0% during the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after purchasing an additional 75 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of Meta Platforms in the fourth quarter valued at about $32,000. Clear Investment Research LLC boosted its holdings in Meta Platforms by 411.1% during the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after buying an additional 74 shares in the last quarter. Gilfoyle & Co LLC purchased a new stake in Meta Platforms during the fourth quarter worth about $39,000. Finally, Cranbrook Wealth Management LLC grew its position in Meta Platforms by 80.4% during the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after buying an additional 45 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of META stock opened at $499.49 on Wednesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. The company’s fifty day moving average price is $480.14 and its two-hundred day moving average price is $444.30. The firm has a market capitalization of $1.27 trillion, a P/E ratio of 28.69, a P/E/G ratio of 1.31 and a beta of 1.21. Meta Platforms, Inc. has a 12 month low of $274.38 and a 12 month high of $531.49.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $36.28 billion. On average, research analysts anticipate that Meta Platforms, Inc. will post 20.16 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Friday, June 14th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.00 annualized dividend and a yield of 0.40%. Meta Platforms’s dividend payout ratio is presently 11.49%.

Insider Buying and Selling at Meta Platforms

In other news, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $505.29, for a total value of $295,594.65. Following the sale, the insider now owns 39,568 shares in the company, valued at approximately $19,993,314.72. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $505.29, for a total value of $295,594.65. Following the completion of the transaction, the insider now owns 39,568 shares in the company, valued at approximately $19,993,314.72. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Javier Olivan sold 490 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $517.75, for a total value of $253,697.50. Following the completion of the sale, the chief operating officer now owns 7,579 shares of the company’s stock, valued at $3,924,027.25. The disclosure for this sale can be found here. Insiders have sold 391,071 shares of company stock worth $192,834,857 in the last ninety days. 13.71% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on META. TD Cowen reduced their price objective on Meta Platforms from $590.00 to $530.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Roth Mkm lifted their price target on Meta Platforms from $500.00 to $510.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. KeyCorp lowered their price objective on shares of Meta Platforms from $575.00 to $555.00 and set an “overweight” rating on the stock in a research note on Monday, April 22nd. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a research report on Thursday, April 25th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $450.00 price target on shares of Meta Platforms in a research report on Wednesday, June 12th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and an average target price of $510.41.

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.