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

Grant Private Wealth Management Inc boosted its stake in Meta Platforms, Inc. (NASDAQ:META) by 2.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,556 shares of the social networking company’s stock after purchasing an additional 204 shares during the quarter. Meta Platforms comprises about 4.7% of Grant Private Wealth Management Inc’s holdings, making the stock its 2nd biggest position. Grant Private Wealth Management Inc’s holdings in Meta Platforms were worth $4,355,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Millstone Evans Group LLC acquired a new position in shares of Meta Platforms during the fourth quarter valued at about $40,000. WealthTrak Capital Management LLC acquired a new position in shares of Meta Platforms during the fourth quarter valued at about $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Meta Platforms during the fourth quarter valued at about $45,000. Stuart Chaussee & Associates Inc. acquired a new position in shares of Meta Platforms during the fourth quarter valued at about $47,000. Finally, Principia Wealth Advisory LLC grew its holdings in shares of Meta Platforms by 53.6% during the first quarter. Principia Wealth Advisory LLC now owns 86 shares of the social networking company’s stock valued at $50,000 after buying an additional 30 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 519 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $701.00, for a total value of $363,819.00. Following the sale, the insider now directly owns 29,183 shares in the company, valued at $20,457,283. This represents a 1.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $3,334,383.52. Following the completion of the sale, the chief technology officer now owns 16,463 shares in the company, valued at $10,855,043.68. This represents a 23.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 85,593 shares of company stock worth $56,008,477. 13.61% of the stock is owned by corporate insiders.

Meta Platforms Stock Performance

Shares of META stock opened at $682.87 on Monday. The stock has a market capitalization of $1.72 trillion, a P/E ratio of 28.55, a PEG ratio of 1.42 and a beta of 1.26. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The firm’s 50 day moving average is $604.07 and its 200 day moving average is $619.96. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating analysts’ consensus estimates of $5.33 by $1.10. The company had revenue of $42.31 billion for the quarter, compared to analysts’ expectations of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. Meta Platforms’s revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the company posted $4.71 EPS. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date is Monday, June 16th. Meta Platforms’s payout ratio is currently 8.19%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Susquehanna reduced their price objective on shares of Meta Platforms from $800.00 to $700.00 and set a “positive” rating for the company in a report on Thursday, May 1st. Raymond James reduced their price objective on shares of Meta Platforms from $800.00 to $750.00 and set a “strong-buy” rating for the company in a report on Thursday, May 1st. Oppenheimer lifted their price objective 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. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a report on Thursday, May 1st. Finally, Bank of America boosted their price target on shares of Meta Platforms from $690.00 to $765.00 and gave the stock a “buy” rating in a report on Thursday. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $704.26.

Meta Platforms Company 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.