7,352 Shares in Meta Platforms, Inc. (NASDAQ:META) Acquired by Grant Private Wealth Management Inc

Grant Private Wealth Management Inc acquired a new stake in Meta Platforms, Inc. (NASDAQ:META) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 7,352 shares of the social networking company’s stock, valued at approximately $4,305,000. Meta Platforms comprises approximately 4.6% of Grant Private Wealth Management Inc’s investment portfolio, making the stock its 3rd biggest holding.

A number of other institutional investors and hedge funds also recently bought and sold shares of META. JDM Financial Group LLC bought a new position in Meta Platforms in the third quarter valued at about $30,000. Safe Harbor Fiduciary LLC bought a new stake in Meta Platforms in the third quarter valued at about $36,000. Millstone Evans Group LLC acquired a new position in Meta Platforms in the fourth quarter valued at about $40,000. Avondale Wealth Management acquired a new stake in shares of Meta Platforms in the 4th quarter valued at approximately $41,000. Finally, WealthTrak Capital Management LLC acquired a new stake in Meta Platforms in the fourth quarter worth $43,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 608 shares of Meta Platforms stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $563.03, for a total value of $342,322.24. Following the transaction, the chief operating officer now owns 6,230 shares in the company, valued at $3,507,676.90. The trade was a 8.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jennifer Newstead sold 921 shares of the stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $627.05, for a total transaction of $577,513.05. Following the completion of the transaction, the insider now directly owns 31,182 shares of the company’s stock, valued at $19,552,673.10. This trade represents a 2.87 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 584,113 shares of company stock valued at $385,838,234. Corporate insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on META. UBS Group raised their price target on Meta Platforms from $736.00 to $786.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Pivotal Research upped their target price on shares of Meta Platforms from $800.00 to $875.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. KeyCorp cut their price target on Meta Platforms from $750.00 to $710.00 and set an “overweight” rating on the stock in a report on Tuesday, March 18th. Robert W. Baird lifted their target price on Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Finally, Citigroup boosted their target price on Meta Platforms from $753.00 to $780.00 and gave the company a “buy” rating in a research note 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $718.55.

Meta Platforms Trading Down 0.4 %

Shares of Meta Platforms stock opened at $583.93 on Thursday. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 12-month low of $414.50 and a 12-month high of $740.91. The company has a market capitalization of $1.48 trillion, a price-to-earnings ratio of 24.41, a PEG ratio of 1.42 and a beta of 1.28. The firm’s 50-day moving average price is $653.10 and its two-hundred day moving average price is $610.50.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, topping 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 quarter last year, the business posted $5.33 EPS. On average, 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 declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were paid a $0.525 dividend. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.10 annualized dividend and a dividend yield of 0.36%. Meta Platforms’s dividend payout ratio (DPR) is presently 8.78%.

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.