Prossimo Advisors LLC Has $556,000 Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Prossimo Advisors LLC increased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 27.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 972 shares of the social networking company’s stock after acquiring an additional 208 shares during the period. Prossimo Advisors LLC’s holdings in Meta Platforms were worth $556,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Meta Platforms by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock valued at $90,891,055,000 after purchasing an additional 831,047 shares in the last quarter. Capital World Investors raised its holdings in Meta Platforms by 0.6% during the first quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock valued at $18,597,382,000 after buying an additional 244,803 shares in the last quarter. Capital Research Global Investors lifted its position in shares of Meta Platforms by 14.5% in the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock worth $16,799,612,000 after buying an additional 4,379,826 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Meta Platforms by 24.7% during the 1st quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock worth $6,733,731,000 after acquiring an additional 2,748,620 shares in the last quarter. Finally, GQG Partners LLC raised its stake in shares of Meta Platforms by 3.1% in the 1st quarter. GQG Partners LLC now owns 11,497,335 shares of the social networking company’s stock valued at $5,582,876,000 after acquiring an additional 342,742 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on META. Scotiabank lowered their price target on Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating on the stock in a report on Thursday, October 31st. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a report on Thursday, October 31st. Benchmark reissued a “hold” rating on shares of Meta Platforms in a research report on Thursday, July 25th. DA Davidson assumed coverage on Meta Platforms in a research report on Tuesday, September 10th. They issued a “buy” rating and a $600.00 price target on the stock. Finally, Stifel Nicolaus boosted their price objective on Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus price target of $634.10.

Meta Platforms Trading Up 2.1 %

Shares of META opened at $572.43 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The company has a market cap of $1.45 trillion, a price-to-earnings ratio of 26.96, a PEG ratio of 1.26 and a beta of 1.22. The stock has a fifty day moving average price of $556.78 and a two-hundred day moving average price of $513.67. Meta Platforms, Inc. has a 52-week low of $313.66 and a 52-week high of $602.95.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.19 by $0.84. The business had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Analysts predict that Meta Platforms, Inc. will post 22.44 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. Investors of record on Monday, September 16th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $532.21, for a total transaction of $481,650.05. Following the completion of the sale, the insider now owns 41,437 shares in the company, valued at $22,053,185.77. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $532.21, for a total transaction of $481,650.05. Following the completion of the sale, the insider now owns 41,437 shares in the company, valued at $22,053,185.77. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $513.09, for a total transaction of $8,569,629.18. Following the sale, the chief executive officer now directly owns 98,654 shares of the company’s stock, valued at approximately $50,618,380.86. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 243,919 shares of company stock valued at $129,296,067. 13.71% of the stock is currently owned by corporate insiders.

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.