Brooklyn FI LLC Takes $282,000 Position in Meta Platforms, Inc. (NASDAQ:META)

Brooklyn FI LLC bought a new stake in Meta Platforms, Inc. (NASDAQ:META) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 559 shares of the social networking company’s stock, valued at approximately $282,000.

Other large investors have also added to or reduced their stakes in the company. Quest Partners LLC bought a new stake in shares of Meta Platforms in the fourth quarter worth $32,000. Clear Investment Research LLC raised its stake in shares of Meta Platforms by 411.1% in the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 74 shares in the last quarter. Delos Wealth Advisors LLC lifted its position in shares of Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after purchasing an additional 58 shares during the last quarter. POM Investment Strategies LLC acquired a new position in Meta Platforms in the second quarter worth about $38,000. Finally, Ruedi Wealth Management Inc. increased its holdings in Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after buying an additional 44 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on META. Benchmark reaffirmed a “hold” rating on shares of Meta Platforms in a report on Thursday, July 25th. Loop Capital lifted their price objective on shares of Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Rosenblatt Securities boosted their target price on shares of Meta Platforms from $562.00 to $643.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. The Goldman Sachs Group raised their price target on shares of Meta Platforms from $522.00 to $555.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Oppenheimer upped their target price on Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $577.26.

Meta Platforms Price Performance

NASDAQ META opened at $525.60 on Friday. Meta Platforms, Inc. has a 1 year low of $279.40 and a 1 year high of $544.23. The business’s fifty day moving average is $505.44 and its two-hundred day moving average is $495.07. The stock has a market capitalization of $1.33 trillion, a P/E ratio of 30.19, a P/E/G ratio of 1.23 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. During the same period in the previous year, the firm earned $3.23 earnings per share. Meta Platforms’s revenue for the quarter was up 22.1% compared to the same quarter last year. On average, research analysts forecast that Meta Platforms, Inc. will post 21.36 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Monday, September 16th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.38%. The ex-dividend date is Monday, September 16th. Meta Platforms’s payout ratio is 11.49%.

Insider Transactions at Meta Platforms

In related news, COO Javier Olivan sold 413 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $536.92, for a total value of $221,747.96. Following the completion of the sale, the chief operating officer now owns 14,424 shares in the company, valued at approximately $7,744,534.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Meta Platforms news, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $536.92, for a total transaction of $221,747.96. Following the transaction, the chief operating officer now owns 14,424 shares of the company’s stock, valued at approximately $7,744,534.08. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 150 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $500.49, for a total transaction of $75,073.50. Following the completion of the transaction, the chief executive officer now owns 124,387 shares in the company, valued at approximately $62,254,449.63. The disclosure for this sale can be found here. Insiders have sold a total of 357,574 shares of company stock valued at $185,587,773 over the last ninety days. Corporate insiders own 13.71% of the company’s stock.

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.