Gray Wealth Management Inc. Has $654,000 Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Gray Wealth Management Inc. grew its position in Meta Platforms, Inc. (NASDAQ:META) by 3.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,118 shares of the social networking company’s stock after purchasing an additional 40 shares during the period. Gray Wealth Management Inc.’s holdings in Meta Platforms were worth $654,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in META. Howard Capital Management Group LLC raised its holdings in shares of Meta Platforms by 17.9% in the third quarter. Howard Capital Management Group LLC now owns 1,652 shares of the social networking company’s stock valued at $946,000 after purchasing an additional 251 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Meta Platforms by 6.5% in the third quarter. Principal Financial Group Inc. now owns 3,368,361 shares of the social networking company’s stock valued at $1,928,185,000 after purchasing an additional 204,412 shares during the last quarter. United Bank raised its holdings in shares of Meta Platforms by 22.2% in the third quarter. United Bank now owns 5,569 shares of the social networking company’s stock valued at $3,188,000 after purchasing an additional 1,011 shares during the last quarter. 1776 Wealth LLC purchased a new stake in shares of Meta Platforms in the third quarter valued at about $282,000. Finally, Turtle Creek Wealth Advisors LLC grew its position in Meta Platforms by 1.9% during the third quarter. Turtle Creek Wealth Advisors LLC now owns 13,431 shares of the social networking company’s stock valued at $7,688,000 after buying an additional 249 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insiders Place Their Bets

In other news, COO Javier Olivan sold 608 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $607.50, for a total value of $369,360.00. Following the transaction, the chief operating officer now owns 7,446 shares in the company, valued at approximately $4,523,445. This trade represents a 7.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 10,100 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $601.54, for a total transaction of $6,075,554.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 632,023 shares of company stock valued at $414,734,884. 13.71% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

META has been the subject of several research reports. Susquehanna increased their price target on shares of Meta Platforms from $675.00 to $800.00 and gave the company a “positive” rating in a research report on Thursday, January 30th. Bank of America increased their price target on shares of Meta Platforms from $710.00 to $765.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Morgan Stanley increased their price target on shares of Meta Platforms from $600.00 to $660.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Wolfe Research increased their price target on shares of Meta Platforms from $670.00 to $730.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Finally, Oppenheimer increased their price target on shares of Meta Platforms from $650.00 to $800.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average target price of $718.31.

Meta Platforms Trading Up 0.3 %

META stock opened at $584.06 on Thursday. The company has a market capitalization of $1.48 trillion, a PE ratio of 24.42, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23. Meta Platforms, Inc. has a one year low of $414.50 and a one year high of $740.91. The company’s 50 day moving average price is $656.27 and its two-hundred day moving average price is $604.69. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 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 in the prior year, the firm earned $5.33 EPS. As a group, analysts predict 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 will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.525 per share. The ex-dividend date is Friday, March 14th. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a dividend yield of 0.36%. Meta Platforms’s dividend payout ratio (DPR) is 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.