Brave Asset Management Inc. Buys 74 Shares of Meta Platforms, Inc. (NASDAQ:META)

Brave Asset Management Inc. grew its stake in Meta Platforms, Inc. (NASDAQ:META) by 9.3% during the fourth quarter, Holdings Channel reports. The firm owned 868 shares of the social networking company’s stock after purchasing an additional 74 shares during the period. Brave Asset Management Inc.’s holdings in Meta Platforms were worth $508,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Geode Capital Management LLC boosted its holdings in Meta Platforms by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock worth $27,470,870,000 after acquiring an additional 698,884 shares during the last quarter. Jennison Associates LLC boosted its holdings in Meta Platforms by 1.9% during the third quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock worth $8,266,531,000 after purchasing an additional 263,063 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Meta Platforms by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock worth $7,915,451,000 after purchasing an additional 118,298 shares in the last quarter. International Assets Investment Management LLC increased its stake in Meta Platforms by 57,001.5% in the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock valued at $5,447,975,000 after buying an additional 9,500,444 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Meta Platforms by 2.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,754,450 shares of the social networking company’s stock worth $3,911,029,000 after buying an additional 208,677 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on META. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $670.00 price target on shares of Meta Platforms in a research report on Wednesday, October 16th. BMO Capital Markets lifted their target price on Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a research note on Thursday, October 31st. Sanford C. Bernstein increased their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Barclays lifted their price objective on shares of Meta Platforms from $550.00 to $630.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, Morgan Stanley increased their target price on shares of Meta Platforms from $600.00 to $660.00 and gave the company an “overweight” rating in a research report on Monday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $650.05.

Meta Platforms Price Performance

Shares of Meta Platforms stock opened at $611.30 on Friday. The firm has a market capitalization of $1.54 trillion, a PE ratio of 28.79, a price-to-earnings-growth ratio of 1.22 and a beta of 1.19. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 12 month low of $358.61 and a 12 month high of $638.40. The business’s 50-day moving average price is $595.92 and its 200-day moving average price is $555.25.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. The business had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Sell-side analysts forecast that Meta Platforms, Inc. will post 22.68 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Insider Activity at Meta Platforms

In other news, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $574.70, for a total transaction of $520,103.50. Following the completion of the sale, the insider now owns 32,387 shares of the company’s stock, valued at approximately $18,612,808.90. This represents a 2.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Aaron Anderson sold 731 shares of Meta Platforms stock in a transaction on Monday, November 18th. The stock was sold at an average price of $557.00, for a total transaction of $407,167.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,414 shares in the company, valued at approximately $1,901,598. The trade was a 17.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 496,174 shares of company stock worth $301,408,499 in the last ninety days. 13.71% of the stock is owned by company insiders.

Meta Platforms Company 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.