Greykasell Wealth Strategies Inc. Acquires Shares of 4,728 Meta Platforms, Inc. (NASDAQ:META)

Greykasell Wealth Strategies Inc. bought a new stake in Meta Platforms, Inc. (NASDAQ:META) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,728 shares of the social networking company’s stock, valued at approximately $2,768,000. Meta Platforms accounts for approximately 1.5% of Greykasell Wealth Strategies Inc.’s holdings, making the stock its 18th biggest position.

Other hedge funds have also recently made changes to their positions in the company. JDM Financial Group LLC bought a new stake in shares of Meta Platforms in the third quarter valued at $30,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Meta Platforms in the third quarter valued at $36,000. Avondale Wealth Management bought a new stake in shares of Meta Platforms in the fourth quarter valued at $41,000. Cordant Inc. bought a new stake in shares of Meta Platforms in the fourth quarter valued at $59,000. Finally, Peterson Financial Group Inc. bought a new stake in shares of Meta Platforms in the third quarter valued at $70,000. 79.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 921 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $595.00, for a total transaction of $547,995.00. Following the completion of the transaction, the insider now owns 33,024 shares of the company’s stock, valued at $19,649,280. This represents a 2.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Javier Olivan sold 4,706 shares of the company’s stock in a transaction that occurred on 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 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 disclosure for this sale can be found here. Insiders sold 631,415 shares of company stock valued at $414,365,524 in the last 90 days. Insiders own 13.71% of the company’s stock.

Meta Platforms Trading Down 3.7 %

NASDAQ META opened at $582.36 on Wednesday. Meta Platforms, Inc. has a 1-year low of $414.50 and a 1-year high of $740.91. 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 stock has a 50-day moving average of $656.80 and a 200-day moving average of $604.84. The firm has a market cap of $1.48 trillion, a PE ratio of 24.35, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating analysts’ consensus estimates 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 quarter last year, the business posted $5.33 earnings per share. As a group, sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be given a dividend of $0.525 per share. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a yield of 0.36%. Meta Platforms’s dividend payout ratio is presently 8.78%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a research note on Monday, January 27th. Rosenblatt Securities reiterated a “buy” rating and issued a $811.00 price target on shares of Meta Platforms in a research report on Monday, January 27th. Barclays lifted their price target on Meta Platforms from $630.00 to $705.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Morgan Stanley lifted their price target on Meta Platforms from $600.00 to $660.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Finally, Benchmark upgraded Meta Platforms from a “hold” rating to a “buy” rating and set a $820.00 price target for the company in a research report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $718.31.

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.