Redwood Park Advisors LLC Makes New Investment in Meta Platforms, Inc. (NASDAQ:META)

Redwood Park Advisors LLC bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 23,117 shares of the social networking company's stock, valued at approximately $13,535,000. Meta Platforms makes up 9.3% of Redwood Park Advisors LLC's holdings, making the stock its 2nd biggest holding.

A number of other institutional investors have also added to or reduced their stakes in the company. Colonial Trust Advisors increased its position in shares of Meta Platforms by 0.4% during the fourth quarter. Colonial Trust Advisors now owns 18,439 shares of the social networking company's stock valued at $10,796,000 after purchasing an additional 74 shares during the period. Scotia Capital Inc. increased its holdings in Meta Platforms by 2.9% in the 4th quarter. Scotia Capital Inc. now owns 374,036 shares of the social networking company's stock valued at $219,011,000 after buying an additional 10,611 shares during the period. Maxwell Wealth Strategies Inc. raised its stake in shares of Meta Platforms by 0.5% in the 4th quarter. Maxwell Wealth Strategies Inc. now owns 7,299 shares of the social networking company's stock valued at $4,274,000 after buying an additional 37 shares in the last quarter. One Degree Advisors Inc bought a new position in shares of Meta Platforms during the 4th quarter worth about $167,000. Finally, CenterBook Partners LP boosted its position in shares of Meta Platforms by 10.1% during the 4th quarter. CenterBook Partners LP now owns 41,685 shares of the social networking company's stock valued at $24,407,000 after acquiring an additional 3,836 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

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Insider Activity at Meta Platforms

In other news, CEO Mark Zuckerberg sold 35,921 shares of Meta Platforms stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $616.16, for a total transaction of $22,133,083.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $604.54, for a total value of $547,108.70. Following the completion of the sale, the insider now owns 31,105 shares in the company, valued at approximately $18,804,216.70. This trade represents a 2.83 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 451,119 shares of company stock worth $304,709,239. Insiders own 13.71% of the company's stock.

Wall Street Analysts Forecast Growth

META has been the subject of several recent research reports. Raymond James reissued a "strong-buy" rating and issued a $800.00 price target (up previously from $725.00) on shares of Meta Platforms in a research report on Thursday, January 30th. Arete Research upgraded Meta Platforms to a "hold" rating in a research report on Friday, January 24th. Wolfe Research boosted their price target on Meta Platforms from $670.00 to $730.00 and gave the company an "outperform" rating in a research note on Friday, January 3rd. Royal Bank of Canada lifted their target price on shares of Meta Platforms from $700.00 to $800.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Finally, Argus set a $775.00 price target on Meta Platforms in a research report on Tuesday, February 4th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $698.40.

Meta Platforms Stock Down 2.2 %

Shares of META stock traded down $11.88 during trading on Monday, reaching $531.69. The company's stock had a trading volume of 7,562,309 shares, compared to its average volume of 14,749,020. Meta Platforms, Inc. has a one year low of $414.50 and a one year high of $740.91. The business has a fifty day moving average price of $628.35 and a 200-day moving average price of $609.40. The company has a market cap of $1.35 trillion, a price-to-earnings ratio of 22.23, a price-to-earnings-growth ratio of 1.42 and a beta of 1.28. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, beating analysts' consensus estimates of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same period in the prior year, the business earned $5.33 earnings per share. Analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.39%. This is a boost from Meta Platforms's previous quarterly dividend of $0.50. The ex-dividend date was Friday, March 14th. Meta Platforms's dividend payout ratio is presently 8.78%.

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.