4,728 Shares in Meta Platforms, Inc. (NASDAQ:META) Acquired by Greykasell Wealth Strategies Inc.

Greykasell Wealth Strategies Inc. purchased a new position in Meta Platforms, Inc. (NASDAQ:META) during the 4th quarter, Holdings Channel.com reports. The firm purchased 4,728 shares of the social networking company’s stock, valued at approximately $2,768,000. Meta Platforms makes up about 1.5% of Greykasell Wealth Strategies Inc.’s holdings, making the stock its 18th biggest position.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Geode Capital Management LLC grew its stake in shares of Meta Platforms by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock worth $27,470,870,000 after buying an additional 698,884 shares during the last quarter. Jennison Associates LLC boosted its stake in Meta Platforms by 1.9% during the 3rd quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock valued at $8,266,531,000 after purchasing an additional 263,063 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Meta Platforms by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 14,251,766 shares of the social networking company’s stock valued at $8,344,552,000 after purchasing an additional 424,201 shares during the last quarter. Franklin Resources Inc. boosted its stake in Meta Platforms by 2.8% during the 3rd quarter. Franklin Resources Inc. now owns 6,946,755 shares of the social networking company’s stock valued at $4,101,602,000 after purchasing an additional 186,728 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its stake in Meta Platforms by 1.7% during the 4th quarter. Fisher Asset Management LLC now owns 6,675,174 shares of the social networking company’s stock valued at $3,908,382,000 after purchasing an additional 110,040 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

META has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their target price on Meta Platforms from $660.00 to $725.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Tigress Financial reiterated a “strong-buy” rating on shares of Meta Platforms in a research note on Tuesday, February 11th. JMP Securities reiterated a “market outperform” rating and set a $750.00 target price on shares of Meta Platforms in a research note on Monday, January 27th. Piper Sandler increased their target price on Meta Platforms from $670.00 to $775.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Finally, DA Davidson increased their price target on Meta Platforms from $700.00 to $800.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus price target of $718.31.

Insider Activity

In related news, insider Christopher K. Cox sold 20,000 shares of Meta Platforms stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $677.71, for a total value of $13,554,200.00. Following the completion of the transaction, the insider now owns 308,686 shares in the company, valued at approximately $209,199,589.06. This trade represents a 6.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 10,100 shares of Meta Platforms stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $601.54, for a total value of $6,075,554.00. The disclosure for this sale can be found here. Insiders sold a total of 631,415 shares of company stock worth $414,365,524 over the last 90 days. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Trading Down 3.7 %

Shares of Meta Platforms stock opened at $582.36 on Wednesday. The firm has a market cap of $1.48 trillion, a price-to-earnings ratio of 24.35, a PEG ratio of 1.42 and a beta of 1.23. The business has a 50-day moving average price of $656.80 and a 200-day moving average price of $604.84. 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 twelve month low of $414.50 and a twelve month high of $740.91.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share 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 earned $5.33 earnings per share. Equities research analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders 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 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.