Goldstream Capital Management Ltd boosted its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 13.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 47,293 shares of the social networking company's stock after acquiring an additional 5,645 shares during the quarter. Meta Platforms comprises approximately 7.8% of Goldstream Capital Management Ltd's portfolio, making the stock its 3rd biggest holding. Goldstream Capital Management Ltd's holdings in Meta Platforms were worth $27,691,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of META. Millstone Evans Group LLC purchased a new stake in shares of Meta Platforms in the 4th quarter worth about $40,000. Avondale Wealth Management acquired a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $41,000. WealthTrak Capital Management LLC purchased a new position in shares of Meta Platforms during the 4th quarter worth approximately $43,000. Cordant Inc. purchased a new stake in Meta Platforms in the 4th quarter valued at approximately $59,000. Finally, Conquis Financial LLC acquired a new stake in Meta Platforms during the 4th quarter valued at $59,000. Institutional investors and hedge funds own 79.91% of the company's stock.
Analyst Ratings Changes
META has been the topic of a number of analyst reports. UBS Group decreased their price objective on Meta Platforms from $786.00 to $650.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Wells Fargo & Company lifted their price target on shares of Meta Platforms from $685.00 to $752.00 and gave the stock an "overweight" rating in a report on Thursday, January 30th. Guggenheim reduced their price objective on shares of Meta Platforms from $750.00 to $675.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. BMO Capital Markets lifted their target price on shares of Meta Platforms from $530.00 to $610.00 and gave the stock a "market perform" rating in a research note on Thursday, January 30th. Finally, Cantor Fitzgerald decreased their price objective on Meta Platforms from $790.00 to $624.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-six have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $676.55.
Read Our Latest Stock Analysis on META
Meta Platforms Stock Up 2.7 %
Shares of NASDAQ META traded up $14.39 during midday trading on Friday, hitting $547.54. The company's stock had a trading volume of 13,156,963 shares, compared to its average volume of 14,705,851. 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 market capitalization of $1.39 trillion, a price-to-earnings ratio of 22.91, a price-to-earnings-growth ratio of 1.42 and a beta of 1.28. The business's fifty day simple moving average is $590.37 and its two-hundred day simple moving average is $604.75. Meta Platforms, Inc. has a 1 year low of $414.50 and a 1 year high of $740.91.
Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating the consensus estimate of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same period in the previous year, the firm posted $5.33 earnings per share. On average, equities analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.
Meta Platforms Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Friday, March 14th were issued a $0.525 dividend. This is a boost from Meta Platforms's previous quarterly dividend of $0.50. The ex-dividend date was Friday, March 14th. This represents a $2.10 annualized dividend and a yield of 0.38%. Meta Platforms's dividend payout ratio (DPR) is 8.78%.
Insider Buying and Selling
In other news, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction on Monday, January 27th. The shares were sold at an average price of $627.59, for a total transaction of $259,194.67. Following the completion of the sale, the chief operating officer now directly owns 15,862 shares of the company's stock, valued at approximately $9,954,832.58. The trade was a 2.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 921 shares of the stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $491.87, for a total value of $453,012.27. Following the completion of the transaction, the insider now directly owns 27,498 shares in the company, valued at $13,525,441.26. This trade represents a 3.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 308,068 shares of company stock worth $214,968,924 over the last 90 days. 13.71% of the stock is owned by insiders.
Meta Platforms Profile
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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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