Grant Private Wealth Management Inc Acquires New Holdings in Meta Platforms, Inc. (NASDAQ:META)

Grant Private Wealth Management Inc purchased a new stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 7,352 shares of the social networking company's stock, valued at approximately $4,305,000. Meta Platforms makes up about 4.6% of Grant Private Wealth Management Inc's portfolio, making the stock its 3rd largest position.

Other large investors have also recently added to or reduced their stakes in the company. Seelaus Asset Management LLC boosted its stake in shares of Meta Platforms by 0.9% during the fourth quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company's stock valued at $960,000 after purchasing an additional 15 shares in the last quarter. Meredith Wealth Planning raised its holdings in Meta Platforms by 0.8% in the 4th quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company's stock valued at $1,097,000 after buying an additional 15 shares during the last quarter. Maiden Cove Capital LLC boosted its position in Meta Platforms by 3.2% during the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company's stock worth $282,000 after buying an additional 15 shares during the period. Stephens Consulting LLC grew its stake in shares of Meta Platforms by 5.3% in the fourth quarter. Stephens Consulting LLC now owns 317 shares of the social networking company's stock worth $186,000 after purchasing an additional 16 shares during the last quarter. Finally, VeraBank N.A. grew its stake in shares of Meta Platforms by 0.8% in the fourth quarter. VeraBank N.A. now owns 1,954 shares of the social networking company's stock worth $1,144,000 after purchasing an additional 16 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company's stock.

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Meta Platforms Stock Performance

Shares of NASDAQ META traded down $52.31 during midday trading on Thursday, reaching $531.62. The company's stock had a trading volume of 34,640,728 shares, compared to its average volume of 14,380,193. The stock has a market capitalization of $1.35 trillion, a P/E ratio of 22.22, a PEG ratio of 1.42 and a beta of 1.28. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The firm has a 50 day moving average price of $651.00 and a 200-day moving average price of $609.95. Meta Platforms, Inc. has a 12-month low of $414.50 and a 12-month high of $740.91.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, topping the consensus estimate of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same period in the previous year, the company earned $5.33 EPS. As a group, equities analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Friday, March 14th were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date was Friday, March 14th. This is a boost from Meta Platforms's previous quarterly dividend of $0.50. Meta Platforms's payout ratio is 8.78%.

Insider Buying and Selling at Meta Platforms

In related news, CFO Susan J. Li sold 8,553 shares of Meta Platforms stock in a transaction that occurred on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total value of $6,300,738.51. Following the completion of the transaction, the chief financial officer now directly owns 51,793 shares in the company, valued at approximately $38,154,349.31. The trade was a 14.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 35,921 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $603.98, for a total value of $21,695,565.58. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 585,034 shares of company stock valued at $386,363,811. Company insiders own 13.71% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on META. Argus set a $775.00 target price on Meta Platforms in a research report on Tuesday, February 4th. Raymond James restated a "strong-buy" rating and set a $800.00 price target (up previously from $725.00) on shares of Meta Platforms in a report on Thursday, January 30th. Morgan Stanley upped their price objective on shares of Meta Platforms from $600.00 to $660.00 and gave the company an "overweight" rating in a research note on Monday, January 13th. Mizuho boosted their target price on shares of Meta Platforms from $675.00 to $750.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Finally, Truist Financial upped their price target on shares of Meta Platforms from $700.00 to $770.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. Two investment 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 assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $718.55.

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.