Graypoint LLC Has $11.73 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Graypoint LLC raised its holdings in Meta Platforms, Inc. (NASDAQ:META) by 3.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,041 shares of the social networking company’s stock after buying an additional 760 shares during the period. Graypoint LLC’s holdings in Meta Platforms were worth $11,734,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC boosted its stake in Meta Platforms by 57,001.5% in the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock valued at $5,447,975,000 after purchasing an additional 9,500,444 shares during the period. Integrated Investment Consultants LLC lifted its holdings in shares of Meta Platforms by 61,769.3% during the 3rd quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock worth $2,365,820,000 after acquiring an additional 4,126,190 shares during the period. Sustainable Growth Advisers LP acquired a new stake in shares of Meta Platforms in the 2nd quarter valued at $595,152,000. World Investment Advisors LLC grew its position in Meta Platforms by 4,658.5% in the third quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock valued at $520,662,000 after acquiring an additional 890,434 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Meta Platforms by 1.5% in the third quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock worth $27,470,870,000 after acquiring an additional 698,884 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on META. JMP Securities lifted their price target on shares of Meta Platforms from $660.00 to $750.00 and gave the company a “market outperform” rating in a report on Thursday, January 2nd. Barclays increased their price target on Meta Platforms from $550.00 to $630.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Jefferies Financial Group boosted their price objective on Meta Platforms from $675.00 to $715.00 and gave the stock a “buy” rating in a research report on Monday. The Goldman Sachs Group increased their target price on Meta Platforms from $555.00 to $636.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, Raymond James reiterated a “strong-buy” rating and issued a $675.00 price objective on shares of Meta Platforms in a report on Monday, November 25th. Two investment 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 assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $646.90.

Meta Platforms Stock Up 0.8 %

Meta Platforms stock traded up $5.14 during midday trading on Friday, hitting $615.86. 19,216,416 shares of the stock were exchanged, compared to its average volume of 13,336,346. Meta Platforms, Inc. has a 52-week low of $358.61 and a 52-week high of $638.40. The business’s 50-day moving average price is $592.65 and its 200-day moving average price is $552.16. The stock has a market capitalization of $1.55 trillion, a price-to-earnings ratio of 29.01, a price-to-earnings-growth ratio of 1.36 and a beta of 1.19. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The company had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. On average, research analysts expect that Meta Platforms, Inc. will post 22.68 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were issued a $0.50 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.32%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Insider Activity at Meta Platforms

In related news, insider Nicholas Clegg sold 7,296 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $553.48, for a total transaction of $4,038,190.08. Following the sale, the insider now owns 38,695 shares of the company’s stock, valued at approximately $21,416,908.60. This represents a 15.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $589.97, for a total transaction of $533,922.85. Following the completion of the sale, the insider now owns 33,292 shares in the company, valued at $19,641,281.24. This represents a 2.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 410,536 shares of company stock worth $249,024,275. Insiders own 13.71% of the company’s stock.

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.