Sulzberger Capital Advisors Inc. Makes New $291,000 Investment in Meta Platforms, Inc. (NASDAQ:META)

Sulzberger Capital Advisors Inc. bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 497 shares of the social networking company’s stock, valued at approximately $291,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Millstone Evans Group LLC acquired a new position in shares of Meta Platforms in the 4th quarter valued at about $40,000. Avondale Wealth Management acquired a new position in shares of Meta Platforms in the 4th quarter valued at about $41,000. WealthTrak Capital Management LLC acquired a new position in shares of Meta Platforms in the 4th quarter valued at about $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Meta Platforms in the 4th quarter valued at about $45,000. Finally, Cordant Inc. acquired a new position in shares of Meta Platforms in the 4th quarter valued at about $59,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

META opened at $549.00 on Thursday. The stock has a market capitalization of $1.39 trillion, a price-to-earnings ratio of 22.95, a PEG ratio of 1.42 and a beta of 1.28. The company has a fifty day moving average of $578.42 and a 200 day moving average of $603.67. Meta Platforms, Inc. has a fifty-two week low of $427.11 and a fifty-two week high of $740.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating the consensus estimate of $5.33 by $1.10. The company had revenue of $42.31 billion during the quarter, compared to analysts’ expectations of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. Meta Platforms’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period last year, the company posted $4.71 earnings per share. As a group, sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.38%. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio is currently 8.78%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. UBS Group decreased their target price on Meta Platforms from $786.00 to $650.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Mizuho boosted their target price on Meta Platforms from $675.00 to $750.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Bank of America decreased their target price on Meta Platforms from $765.00 to $640.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Wedbush decreased their price objective on Meta Platforms from $770.00 to $680.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. Finally, JMP Securities reissued a “market outperform” rating and set a $750.00 price objective on shares of Meta Platforms in a report on Wednesday. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and an average price target of $681.95.

Insider Activity

In other Meta Platforms news, COO Javier Olivan sold 406 shares of the stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $491.69, for a total transaction of $199,626.14. Following the sale, the chief operating officer now directly owns 4,608 shares of the company’s stock, valued at approximately $2,265,707.52. This trade represents a 8.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark Zuckerberg sold 12,975 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $696.39, for a total value of $9,035,660.25. Following the sale, the chief executive officer now directly owns 210,971 shares in the company, valued at $146,918,094.69. This represents a 5.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 249,071 shares of company stock worth $175,741,082. Insiders own 13.71% of the company’s stock.

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.