Overbrook Management Corp Buys 7,654 Shares of Meta Platforms, Inc. (NASDAQ:META)

Overbrook Management Corp grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 39.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 27,082 shares of the social networking company’s stock after buying an additional 7,654 shares during the quarter. Meta Platforms accounts for approximately 3.6% of Overbrook Management Corp’s portfolio, making the stock its 12th biggest position. Overbrook Management Corp’s holdings in Meta Platforms were worth $15,503,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Jennison Associates LLC increased its stake in Meta Platforms by 1.9% during the 3rd quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock valued at $8,266,531,000 after purchasing an additional 263,063 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Meta Platforms by 57,001.5% during the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after acquiring an additional 9,500,444 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Meta Platforms by 2.8% during the second quarter. Dimensional Fund Advisors LP now owns 7,754,450 shares of the social networking company’s stock worth $3,911,029,000 after acquiring an additional 208,677 shares in the last quarter. Swiss National Bank raised its holdings in shares of Meta Platforms by 0.3% in the 3rd quarter. Swiss National Bank now owns 6,504,600 shares of the social networking company’s stock worth $3,723,493,000 after acquiring an additional 17,100 shares during the last quarter. Finally, Baillie Gifford & Co. lifted its position in Meta Platforms by 5.8% in the 3rd quarter. Baillie Gifford & Co. now owns 6,150,374 shares of the social networking company’s stock valued at $3,520,720,000 after acquiring an additional 338,263 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on META shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $670.00 price objective on shares of Meta Platforms in a research note on Wednesday, October 16th. Loop Capital increased their price target on Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Jefferies Financial Group lifted their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. DA Davidson began coverage on shares of Meta Platforms in a report on Tuesday, September 10th. They issued a “buy” rating and a $600.00 target price for the company. Finally, Wedbush restated an “outperform” rating and set a $600.00 price target on shares of Meta Platforms in a report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $634.10.

Insider Buying and Selling

In other news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $507.63, for a total value of $459,405.15. Following the completion of the transaction, the insider now directly owns 37,817 shares in the company, valued at approximately $19,197,043.71. This represents a 2.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $520.48, for a total value of $8,693,056.96. Following the transaction, the chief executive officer now directly owns 2,657 shares in the company, valued at approximately $1,382,915.36. This represents a 86.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 168,843 shares of company stock worth $92,083,554. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

NASDAQ:META opened at $559.14 on Friday. The stock has a market cap of $1.41 trillion, a P/E ratio of 26.34, a PEG ratio of 1.25 and a beta of 1.22. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The business’s 50-day moving average price is $572.74 and its two-hundred day moving average price is $524.35. Meta Platforms, Inc. has a twelve month low of $313.66 and a twelve month high of $602.95.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The company had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. As a group, equities analysts predict that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is currently 9.42%.

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.