Overbrook Management Corp Purchases 7,654 Shares of Meta Platforms, Inc. (NASDAQ:META)

Overbrook Management Corp grew its position in Meta Platforms, Inc. (NASDAQ:META) by 39.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,082 shares of the social networking company’s stock after acquiring an additional 7,654 shares during the period. Meta Platforms comprises about 3.6% of Overbrook Management Corp’s portfolio, making the stock its 12th largest holding. Overbrook Management Corp’s holdings in Meta Platforms were worth $15,503,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. POM Investment Strategies LLC bought a new position in Meta Platforms during the second quarter worth $38,000. Ruedi Wealth Management Inc. lifted its stake in shares of Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after buying an additional 44 shares during the last quarter. Halpern Financial Inc. bought a new stake in shares of Meta Platforms during the 3rd quarter worth about $46,000. West Financial Advisors LLC acquired a new position in Meta Platforms in the 3rd quarter valued at about $49,000. Finally, NewSquare Capital LLC raised its holdings in Meta Platforms by 221.9% in the 2nd quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock valued at $52,000 after acquiring an additional 71 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

META has been the subject of a number of research analyst reports. DA Davidson started coverage on Meta Platforms in a report on Tuesday, September 10th. They set a “buy” rating and a $600.00 price objective for the company. TD Cowen boosted their price target on Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Wedbush reaffirmed an “outperform” rating and issued a $600.00 price objective on shares of Meta Platforms in a report on Thursday, September 26th. Scotiabank dropped their target price on Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating for the company in a report on Thursday, October 31st. Finally, Barclays upped their price target on shares of Meta Platforms from $550.00 to $630.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $634.10.

Meta Platforms Stock Down 0.7 %

Shares of NASDAQ META opened at $559.14 on Friday. The company has a 50 day simple moving average of $572.74 and a 200 day simple moving average of $524.35. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. Meta Platforms, Inc. has a 1 year low of $313.66 and a 1 year high of $602.95. The firm has a market cap of $1.41 trillion, a PE ratio of 26.34, a price-to-earnings-growth ratio of 1.25 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The firm had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. On average, research analysts forecast that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were given a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.36%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Insider Buying and Selling at Meta Platforms

In other news, CFO Susan J. Li sold 33,018 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total transaction of $17,101,342.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Javier Olivan sold 620 shares of Meta Platforms stock in a transaction on Monday, November 18th. The stock was sold at an average price of $557.00, for a total transaction of $345,340.00. Following the transaction, the chief operating officer now directly owns 19,992 shares of the company’s stock, valued at $11,135,544. This represents a 3.01 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 168,843 shares of company stock worth $92,083,554. Insiders own 13.71% of the company’s stock.

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.