Prossimo Advisors LLC Buys 385 Shares of Meta Platforms, Inc. (NASDAQ:META)

Prossimo Advisors LLC increased its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 39.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,357 shares of the social networking company's stock after buying an additional 385 shares during the quarter. Prossimo Advisors LLC's holdings in Meta Platforms were worth $795,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in META. Seelaus Asset Management LLC boosted its holdings in Meta Platforms by 0.9% in the fourth quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company's stock valued at $960,000 after purchasing an additional 15 shares during the last quarter. Meredith Wealth Planning boosted its position in Meta Platforms by 0.8% in the 4th quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company's stock worth $1,097,000 after purchasing an additional 15 shares in the last quarter. Stephens Consulting LLC grew its stake in shares of Meta Platforms by 5.3% during the 4th quarter. Stephens Consulting LLC now owns 317 shares of the social networking company's stock worth $186,000 after purchasing an additional 16 shares during the period. VeraBank N.A. increased its holdings in shares of Meta Platforms by 0.8% during the 4th quarter. VeraBank N.A. now owns 1,954 shares of the social networking company's stock valued at $1,144,000 after purchasing an additional 16 shares in the last quarter. Finally, Lindenwold Advisors INC increased its holdings in shares of Meta Platforms by 0.3% during the 3rd quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company's stock valued at $3,388,000 after purchasing an additional 17 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.

Insider Activity

In related news, COO Javier Olivan sold 413 shares of the firm's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $577.49, for a total transaction of $238,503.37. Following the completion of the sale, the chief operating officer now owns 19,166 shares in the company, valued at approximately $11,068,173.34. This trade represents a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Mark Zuckerberg sold 55,589 shares of the business's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $717.72, for a total value of $39,897,337.08. The disclosure for this sale can be found here. Insiders sold 812,422 shares of company stock worth $525,534,818 in the last quarter. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Price Performance

Shares of Meta Platforms stock traded up $12.38 on Wednesday, reaching $669.88. 9,932,976 shares of the stock were exchanged, compared to its average volume of 15,715,486. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The firm has a market cap of $1.70 trillion, a PE ratio of 28.09, a P/E/G ratio of 1.42 and a beta of 1.20. The firm's 50 day moving average is $648.73 and its 200-day moving average is $594.06. Meta Platforms, Inc. has a one year low of $414.50 and a one year high of $740.91.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, topping analysts' consensus estimates 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 quarter last year, the business posted $5.33 EPS. As a group, analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be paid a dividend of $0.525 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.10 annualized dividend and a yield of 0.31%. This is a boost from Meta Platforms's previous quarterly dividend of $0.50. Meta Platforms's dividend payout ratio (DPR) is currently 8.78%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Wells Fargo & Company lifted their price target on Meta Platforms from $685.00 to $752.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. Royal Bank of Canada upped their target price on Meta Platforms from $700.00 to $800.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Wedbush reissued an "outperform" rating and issued a $770.00 price target (up previously from $700.00) on shares of Meta Platforms in a research note on Thursday, January 30th. Barclays upped their price objective on shares of Meta Platforms from $630.00 to $705.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. Finally, Mizuho lifted their target price on shares of Meta Platforms from $675.00 to $750.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $719.26.

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.