Prosperitas Financial LLC Has $5.96 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Prosperitas Financial LLC increased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 2.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,183 shares of the social networking company’s stock after purchasing an additional 215 shares during the period. Meta Platforms makes up 3.0% of Prosperitas Financial LLC’s portfolio, making the stock its 14th biggest position. Prosperitas Financial LLC’s holdings in Meta Platforms were worth $5,962,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. JDM Financial Group LLC acquired a new stake in shares of Meta Platforms during the third quarter worth approximately $30,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Meta Platforms during the third quarter worth approximately $36,000. Avondale Wealth Management acquired a new stake in shares of Meta Platforms during the fourth quarter worth approximately $41,000. Cordant Inc. acquired a new stake in shares of Meta Platforms during the fourth quarter worth approximately $59,000. Finally, Bear Mountain Capital Inc. acquired a new stake in shares of Meta Platforms during the fourth quarter worth approximately $70,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on META. UBS Group increased their price target on shares of Meta Platforms from $736.00 to $786.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Cantor Fitzgerald increased their price target on shares of Meta Platforms from $720.00 to $790.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Robert W. Baird raised their price objective on shares of Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Scotiabank raised their price objective on shares of Meta Platforms from $583.00 to $627.00 and gave the company a “sector perform” rating in a research note on Thursday, January 30th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $770.00 price objective (up from $700.00) on shares of Meta Platforms in a research note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $719.26.

Meta Platforms Stock Up 2.6 %

Shares of META stock opened at $656.47 on Thursday. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 1 year low of $414.50 and a 1 year high of $740.91. The firm’s fifty day moving average price is $655.90 and its two-hundred day moving average price is $599.11. The firm has a market capitalization of $1.66 trillion, a P/E ratio of 27.44, a PEG ratio of 1.42 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period last year, the company posted $5.33 EPS. On average, equities analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio (DPR) is 8.78%.

Insider Activity

In other news, COO Javier Olivan sold 608 shares of Meta Platforms stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $673.96, for a total value of $409,767.68. Following the completion of the transaction, the chief operating officer now owns 8,662 shares of the company’s stock, valued at $5,837,841.52. This trade represents a 6.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Mark Zuckerberg sold 22,946 shares of Meta Platforms stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $621.84, for a total transaction of $14,268,740.64. The disclosure for this sale can be found here. Insiders sold a total of 797,320 shares of company stock valued at $517,913,331 in the last quarter. Company 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.