Meta Platforms, Inc. $META is Grant Private Wealth Management Inc’s 2nd Largest Position

Grant Private Wealth Management Inc lifted its position in Meta Platforms, Inc. (NASDAQ:META) by 19.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 12,042 shares of the social networking company’s stock after purchasing an additional 1,973 shares during the period. Meta Platforms comprises approximately 5.5% of Grant Private Wealth Management Inc’s portfolio, making the stock its 2nd biggest holding. Grant Private Wealth Management Inc’s holdings in Meta Platforms were worth $8,844,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in META. Bare Financial Services Inc purchased a new position in Meta Platforms during the 2nd quarter valued at about $30,000. Evergreen Private Wealth LLC increased its stake in shares of Meta Platforms by 237.5% during the second quarter. Evergreen Private Wealth LLC now owns 54 shares of the social networking company’s stock valued at $40,000 after buying an additional 38 shares during the period. Briaud Financial Planning Inc bought a new position in shares of Meta Platforms during the second quarter valued at approximately $42,000. Knuff & Co LLC purchased a new stake in Meta Platforms in the second quarter worth $44,000. Finally, WFA Asset Management Corp boosted its holdings in Meta Platforms by 42.6% in the second quarter. WFA Asset Management Corp now owns 67 shares of the social networking company’s stock valued at $49,000 after acquiring an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

META has been the topic of a number of research reports. Royal Bank Of Canada cut their target price on shares of Meta Platforms from $840.00 to $810.00 and set an “outperform” rating on the stock in a research note on Thursday, October 30th. Citizens Jmp reaffirmed an “outperform” rating and set a $900.00 price objective (up from $750.00) on shares of Meta Platforms in a research report on Monday, November 24th. UBS Group increased their target price on Meta Platforms from $900.00 to $915.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Bank of America lowered their target price on Meta Platforms from $900.00 to $810.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. Finally, Arete Research set a $718.00 price objective on Meta Platforms in a report on Thursday, December 4th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $819.46.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $664.45 on Friday. The business has a fifty day moving average price of $660.69 and a 200-day moving average price of $707.10. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.98 and a quick ratio of 1.98. The company has a market capitalization of $1.67 trillion, a PE ratio of 29.35, a PEG ratio of 1.36 and a beta of 1.28. Meta Platforms, Inc. has a 1-year low of $479.80 and a 1-year high of $796.25.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, October 29th. The social networking company reported $7.25 earnings per share for the quarter, beating analysts’ consensus estimates of $6.74 by $0.51. The business had revenue of $51.24 billion during the quarter, compared to analyst estimates of $49.34 billion. Meta Platforms had a net margin of 30.89% and a return on equity of 39.35%. Meta Platforms’s revenue was up 26.2% compared to the same quarter last year. During the same period last year, the business earned $6.03 EPS. As a group, equities analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Monday, December 15th will be issued a $0.525 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.28%.

Insider Activity

In other news, Director Robert M. Kimmitt sold 600 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $609.35, for a total transaction of $365,610.00. Following the sale, the director owned 7,347 shares of the company’s stock, valued at $4,476,894.45. This trade represents a 7.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Susan J. Li sold 6,875 shares of the business’s stock in a transaction that occurred on Saturday, November 15th. The shares were sold at an average price of $609.46, for a total transaction of $4,190,037.50. Following the transaction, the chief financial officer directly owned 88,370 shares of the company’s stock, valued at $53,857,980.20. The trade was a 7.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 42,074 shares of company stock valued at $26,478,698. Corporate insiders own 13.61% of the company’s stock.

About Meta Platforms

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.