Newbridge Financial Services Group Inc. Has $5.02 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

Newbridge Financial Services Group Inc. grew its holdings in Meta Platforms, Inc. (NASDAQ:META) by 46.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,962 shares of the social networking company’s stock after purchasing an additional 3,158 shares during the quarter. Meta Platforms comprises about 1.9% of Newbridge Financial Services Group Inc.’s portfolio, making the stock its 7th biggest position. Newbridge Financial Services Group Inc.’s holdings in Meta Platforms were worth $5,023,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in META. Delos Wealth Advisors LLC grew its position in shares of Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after buying an additional 58 shares during the period. POM Investment Strategies LLC bought a new stake in Meta Platforms in the second quarter valued at $38,000. Ruedi Wealth Management Inc. grew its stake in shares of Meta Platforms by 122.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after buying an additional 44 shares during the period. Richardson Financial Services Inc. increased its position in Meta Platforms by 95.6% in the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after buying an additional 43 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. acquired a new position in Meta Platforms during the 1st quarter worth approximately $44,000. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

META stock opened at $576.47 on Wednesday. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $583.04. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. The stock has a market cap of $1.46 trillion, a PE ratio of 33.11, a P/E/G ratio of 1.39 and a beta of 1.21. The firm has a 50 day simple moving average of $519.65 and a two-hundred day simple moving average of $500.85.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. During the same quarter last year, the business posted $3.23 earnings per share. The company’s revenue for the quarter was up 22.1% on a year-over-year basis. On average, analysts predict that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Wall Street Analyst Weigh In

Several research firms have recently commented on META. Jefferies Financial Group boosted their price objective on Meta Platforms from $565.00 to $600.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Wedbush reiterated an “outperform” rating and set a $600.00 price objective on shares of Meta Platforms in a report on Thursday, September 26th. JMP Securities upped their target price on shares of Meta Platforms from $550.00 to $635.00 and gave the stock a “market outperform” rating in a report on Thursday, September 26th. Cantor Fitzgerald reiterated an “overweight” rating and set a $660.00 price target on shares of Meta Platforms in a research note on Monday. Finally, TD Securities raised their target price on Meta Platforms from $530.00 to $600.00 in a report on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and an average target price of $597.95.

Insider Activity

In other Meta Platforms news, CEO Mark Zuckerberg sold 150 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $500.49, for a total transaction of $75,073.50. Following the completion of the sale, the chief executive officer now directly owns 124,387 shares in the company, valued at $62,254,449.63. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Mark Zuckerberg sold 150 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $500.49, for a total transaction of $75,073.50. Following the completion of the transaction, the chief executive officer now directly owns 124,387 shares of the company’s stock, valued at $62,254,449.63. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Susan J. Li sold 8,950 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $4,714,502.00. Following the completion of the sale, the chief financial officer now directly owns 74,579 shares in the company, valued at $39,285,234.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 308,462 shares of company stock valued at $162,308,065. Corporate insiders own 13.71% of the company’s stock.

About Meta Platforms

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.