SevenBridge Financial Group LLC Acquires 1,195 Shares of Meta Platforms, Inc. $META

by · The Cerbat Gem

SevenBridge Financial Group LLC increased its holdings in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 8.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,186 shares of the social networking company’s stock after purchasing an additional 1,195 shares during the period. Meta Platforms accounts for 2.2% of SevenBridge Financial Group LLC’s investment portfolio, making the stock its 8th biggest position. SevenBridge Financial Group LLC’s holdings in Meta Platforms were worth $11,997,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in META. Bare Financial Services Inc acquired a new position in shares of Meta Platforms during the 2nd quarter valued at about $30,000. Evergreen Private Wealth LLC grew its holdings in Meta Platforms by 237.5% in the second quarter. Evergreen Private Wealth LLC now owns 54 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 38 shares during the period. Briaud Financial Planning Inc purchased a new position in Meta Platforms during the second quarter worth approximately $42,000. Knuff & Co LLC acquired a new position in shares of Meta Platforms in the 2nd quarter valued at $44,000. Finally, WFA Asset Management Corp boosted its holdings in shares of Meta Platforms by 42.6% in the 2nd quarter. WFA Asset Management Corp now owns 67 shares of the social networking company’s stock valued at $49,000 after purchasing an additional 20 shares during the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on META shares. Raymond James Financial restated a “strong-buy” rating and set a $825.00 price objective (down from $900.00) on shares of Meta Platforms in a report on Thursday, October 30th. Sanford C. Bernstein reissued an “outperform” rating and set a $870.00 price target (down previously from $900.00) on shares of Meta Platforms in a research report on Thursday, October 30th. Zacks Research lowered Meta Platforms from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Piper Sandler reduced their price objective on Meta Platforms from $880.00 to $840.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. Finally, Truist Financial decreased their target price on Meta Platforms from $900.00 to $875.00 and set a “buy” rating for the company in a report on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus target price of $819.46.

View Our Latest Research Report on Meta Platforms

Insiders Place Their Bets

In related news, insider Jennifer Newstead sold 519 shares of Meta Platforms stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $664.16, for a total value of $344,699.04. Following the completion of the sale, the insider owned 30,215 shares in the company, valued at approximately $20,067,594.40. The trade was a 1.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Javier Olivan sold 517 shares of the company’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $669.63, for a total transaction of $346,198.71. Following the completion of the sale, the chief operating officer directly owned 13,751 shares in the company, valued at $9,208,082.13. This represents a 3.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 40,458 shares of company stock valued at $25,436,200 over the last 90 days. 13.61% of the stock is owned by company insiders.

Meta Platforms Stock Performance

Meta Platforms stock opened at $647.51 on Tuesday. Meta Platforms, Inc. has a 12-month low of $479.80 and a 12-month high of $796.25. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.98 and a quick ratio of 1.98. The company has a market capitalization of $1.63 trillion, a price-to-earnings ratio of 28.60, a price-to-earnings-growth ratio of 1.35 and a beta of 1.28. The firm’s fifty day moving average price is $664.55 and its 200 day moving average price is $707.70.

Meta Platforms (NASDAQ:META – Get Free Report) last announced its earnings results on Wednesday, October 29th. The social networking company reported $7.25 earnings per share for the quarter, beating the consensus estimate of $6.74 by $0.51. Meta Platforms had a return on equity of 39.35% and a net margin of 30.89%.The company had revenue of $51.24 billion during the quarter, compared to the consensus estimate of $49.34 billion. During the same period last year, the firm earned $6.03 earnings per share. The company’s revenue was up 26.2% on a year-over-year basis. On average, research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Monday, December 15th will be paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, December 15th. Meta Platforms’s dividend payout ratio (DPR) is 9.28%.

Meta Platforms Company Profile

(Free Report)

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.

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