Overbrook Management Corp Purchases 1,704 Shares of Meta Platforms, Inc. $META

Overbrook Management Corp raised its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 48,732 shares of the social networking company’s stock after acquiring an additional 1,704 shares during the period. Meta Platforms makes up 6.4% of Overbrook Management Corp’s portfolio, making the stock its 4th biggest position. Overbrook Management Corp’s holdings in Meta Platforms were worth $35,788,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Kingstone Capital Partners Texas LLC increased its position in Meta Platforms by 608,429.2% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 59,775,823 shares of the social networking company’s stock worth $44,119,937,000 after purchasing an additional 59,766,000 shares in the last quarter. Norges Bank purchased a new stake in Meta Platforms during the second quarter worth approximately $23,155,393,000. Laurel Wealth Advisors LLC increased its position in shares of Meta Platforms by 73,443.1% in the second quarter. Laurel Wealth Advisors LLC now owns 8,417,003 shares of the social networking company’s stock worth $6,212,506,000 after acquiring an additional 8,405,558 shares in the last quarter. State Street Corp raised its stake in shares of Meta Platforms by 1.9% in the 2nd quarter. State Street Corp now owns 86,925,674 shares of the social networking company’s stock valued at $64,158,971,000 after acquiring an additional 1,650,435 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Meta Platforms by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 192,591,101 shares of the social networking company’s stock valued at $142,149,566,000 after acquiring an additional 1,532,568 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Aaron Anderson sold 726 shares of the company’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $591.60, for a total value of $429,501.60. Following the sale, the chief accounting officer owned 6,035 shares in the company, valued at approximately $3,570,306. This represents a 10.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Andrew Bosworth sold 11,690 shares of the stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $593.31, for a total transaction of $6,935,793.90. Following the transaction, the chief technology officer directly owned 2,415 shares in the company, valued at $1,432,843.65. The trade was a 82.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 41,555 shares of company stock worth $26,144,862 over the last ninety days. Insiders own 13.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Barclays decreased their price target on shares of Meta Platforms from $810.00 to $770.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Piper Sandler decreased their target price on Meta Platforms from $880.00 to $840.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Meta Platforms in a research note on Monday. The Goldman Sachs Group reissued a “buy” rating on shares of Meta Platforms in a research report on Tuesday, October 14th. Finally, Zacks Research cut Meta Platforms from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Four analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $819.46.

Meta Platforms Trading Down 1.2%

Shares of META opened at $649.50 on Thursday. Meta Platforms, Inc. has a one year low of $479.80 and a one year high of $796.25. The stock has a 50-day moving average price of $662.07 and a 200 day moving average price of $707.40. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.98 and a current ratio of 1.98. The company has a market capitalization of $1.64 trillion, a P/E ratio of 28.69, a P/E/G ratio of 1.38 and a beta of 1.28.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, October 29th. The social networking company reported $7.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.74 by $0.51. The company had revenue of $51.24 billion for the quarter, compared to the consensus estimate of $49.34 billion. Meta Platforms had a return on equity of 39.35% and a net margin of 30.89%.Meta Platforms’s revenue for the quarter was up 26.2% compared to the same quarter last year. During the same period in the previous year, the business earned $6.03 EPS. Sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Monday, December 15th will be issued a $0.525 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $2.10 annualized dividend and a yield of 0.3%. Meta Platforms’s dividend payout ratio is currently 9.28%.

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.