Prossimo Advisors LLC Grows Stake in Meta Platforms, Inc. (NASDAQ:META)

Prossimo Advisors LLC boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 39.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,357 shares of the social networking company’s stock after purchasing an additional 385 shares during the quarter. Prossimo Advisors LLC’s holdings in Meta Platforms were worth $795,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. JDM Financial Group LLC acquired a new stake in Meta Platforms in the 3rd quarter valued at about $30,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Meta Platforms in the third quarter valued at about $36,000. Avondale Wealth Management acquired a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $41,000. Cordant Inc. purchased a new position in shares of Meta Platforms during the 4th quarter worth approximately $59,000. Finally, Reston Wealth Management LLC acquired a new position in shares of Meta Platforms during the 3rd quarter worth approximately $61,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insiders Place Their Bets

In other news, COO Javier Olivan sold 413 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $577.49, for a total value of $238,503.37. Following the completion of the sale, the chief operating officer now owns 19,166 shares of the company’s stock, valued at approximately $11,068,173.34. The trade was a 2.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 55,589 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $717.72, for a total transaction of $39,897,337.08. The disclosure for this sale can be found here. Insiders have sold 812,422 shares of company stock worth $525,534,818 in the last three months. 13.71% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on META. Royal Bank of Canada increased their target price on Meta Platforms from $700.00 to $800.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Susquehanna increased their price objective on Meta Platforms from $675.00 to $800.00 and gave the company a “positive” rating in a research note on Thursday, January 30th. JMP Securities reissued a “market outperform” rating and issued a $750.00 target price on shares of Meta Platforms in a research note on Monday, January 27th. Tigress Financial reaffirmed a “strong-buy” rating on shares of Meta Platforms in a research note on Tuesday, February 11th. Finally, Wells Fargo & Company boosted their price objective on shares of Meta Platforms from $685.00 to $752.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $719.26.

Meta Platforms Price Performance

Shares of META stock opened at $668.13 on Tuesday. The firm has a fifty day simple moving average of $647.97 and a 200-day simple moving average of $593.08. The company has a market capitalization of $1.69 trillion, a PE ratio of 27.93, a price-to-earnings-growth ratio of 1.42 and a beta of 1.20. Meta Platforms, Inc. has a twelve month low of $414.50 and a twelve month high of $740.91. 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 (NASDAQ:META) last posted its quarterly earnings data 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 net margin of 37.91% and a return on equity of 38.17%. During the same period in the previous year, the company posted $5.33 earnings per share. Equities research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio (DPR) is 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.