Bridgeway Capital Management LLC Purchases 800 Shares of Meta Platforms, Inc. (NASDAQ:META)

Bridgeway Capital Management LLC increased its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 1.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 60,193 shares of the social networking company's stock after purchasing an additional 800 shares during the period. Meta Platforms accounts for about 0.8% of Bridgeway Capital Management LLC's holdings, making the stock its 3rd biggest holding. Bridgeway Capital Management LLC's holdings in Meta Platforms were worth $35,243,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Blue Capital Inc. acquired a new stake in shares of Meta Platforms during the fourth quarter worth $1,039,000. Bowie Capital Management LLC lifted its stake in shares of Meta Platforms by 4.5% in the 4th quarter. Bowie Capital Management LLC now owns 175,214 shares of the social networking company's stock worth $102,590,000 after acquiring an additional 7,467 shares during the period. Cantor Fitzgerald L. P. boosted its holdings in shares of Meta Platforms by 1,395.5% in the fourth quarter. Cantor Fitzgerald L. P. now owns 11,321 shares of the social networking company's stock valued at $6,629,000 after acquiring an additional 10,564 shares in the last quarter. Captrust Financial Advisors increased its stake in shares of Meta Platforms by 7.8% during the fourth quarter. Captrust Financial Advisors now owns 481,382 shares of the social networking company's stock worth $281,854,000 after acquiring an additional 34,935 shares during the period. Finally, Cary Street Partners Financial LLC purchased a new position in Meta Platforms during the fourth quarter worth about $13,300,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Stock Up 0.4 %

Shares of META opened at $599.27 on Tuesday. The stock's 50-day moving average price is $573.80 and its two-hundred day moving average price is $604.15. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91. The company has a market capitalization of $1.52 trillion, a PE ratio of 25.05, a PEG ratio of 1.42 and a beta of 1.24. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The company had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter last year, the firm posted $4.71 EPS. The company's quarterly revenue was up 16.1% on a year-over-year basis. On average, analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were paid a $0.525 dividend. The ex-dividend date was Friday, March 14th. This is an increase from Meta Platforms's previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a dividend yield of 0.35%. Meta Platforms's dividend payout ratio is 8.19%.

Analyst Upgrades and Downgrades

META has been the subject of several research analyst reports. Wedbush raised their price objective on Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. raised their price target on Meta Platforms from $610.00 to $675.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Susquehanna decreased their price objective on shares of Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock in a research report on Thursday, May 1st. TD Securities dropped their target price on shares of Meta Platforms from $725.00 to $700.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Finally, Oppenheimer upped their price target on shares of Meta Platforms from $650.00 to $665.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms currently has a consensus rating of "Moderate Buy" and a consensus target price of $696.45.

Insider Activity at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 4,706 shares of the firm's stock in a transaction dated Saturday, February 15th. The stock was sold at an average price of $736.67, for a total value of $3,466,769.02. Following the completion of the transaction, the chief operating officer now owns 20,935 shares in the company, valued at $15,422,186.45. This trade represents a 18.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Susan J. Li sold 8,553 shares of the firm's stock in a transaction on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total transaction of $6,300,738.51. Following the completion of the transaction, the chief financial officer now directly owns 51,793 shares of the company's stock, valued at approximately $38,154,349.31. The trade was a 14.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 222,724 shares of company stock valued at $157,259,224. 13.71% of the stock is owned by insiders.

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.

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