Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Gruss & Co. LLC

Gruss & Co. LLC increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 50.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,500 shares of the social networking company’s stock after purchasing an additional 500 shares during the period. Meta Platforms makes up approximately 4.1% of Gruss & Co. LLC’s holdings, making the stock its 10th largest position. Gruss & Co. LLC’s holdings in Meta Platforms were worth $531,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in META. WoodTrust Financial Corp grew its stake in shares of Meta Platforms by 1.8% in the 4th quarter. WoodTrust Financial Corp now owns 1,547 shares of the social networking company’s stock valued at $548,000 after purchasing an additional 27 shares during the period. Peterson Wealth Advisors LLC grew its stake in shares of Meta Platforms by 1.9% in the 4th quarter. Peterson Wealth Advisors LLC now owns 1,468 shares of the social networking company’s stock valued at $520,000 after purchasing an additional 28 shares during the period. Edge Wealth Management LLC grew its stake in shares of Meta Platforms by 4.0% in the 4th quarter. Edge Wealth Management LLC now owns 730 shares of the social networking company’s stock valued at $258,000 after purchasing an additional 28 shares during the period. Yarger Wealth Strategies LLC grew its stake in shares of Meta Platforms by 4.0% in the 4th quarter. Yarger Wealth Strategies LLC now owns 736 shares of the social networking company’s stock valued at $260,000 after purchasing an additional 28 shares during the period. Finally, Curated Wealth Partners LLC grew its position in Meta Platforms by 1.8% during the 4th quarter. Curated Wealth Partners LLC now owns 1,602 shares of the social networking company’s stock worth $567,000 after acquiring an additional 29 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total transaction of $305,370.00. Following the completion of the transaction, the insider now owns 38,398 shares in the company, valued at $20,043,756. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Javier Olivan sold 490 shares of Meta Platforms stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $516.51, for a total transaction of $253,089.90. Following the completion of the transaction, the chief operating officer now owns 8,069 shares in the company, valued at $4,167,719.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total value of $305,370.00. Following the sale, the insider now owns 38,398 shares of the company’s stock, valued at approximately $20,043,756. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,460,035 shares of company stock worth $691,937,607. Company insiders own 13.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Stifel Nicolaus raised their price target on Meta Platforms from $405.00 to $527.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Bank of America raised their price target on Meta Platforms from $425.00 to $510.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Wolfe Research raised their price target on Meta Platforms from $430.00 to $530.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Truist Financial raised their price target on Meta Platforms from $405.00 to $525.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Finally, Evercore ISI raised their price target on Meta Platforms from $425.00 to $550.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $502.75.

Read Our Latest Research Report on META

Meta Platforms Stock Performance

META opened at $523.16 on Friday. The business’s 50-day moving average price is $490.71 and its two-hundred day moving average price is $390.44. Meta Platforms, Inc. has a 1 year low of $207.13 and a 1 year high of $531.49. The company has a market capitalization of $1.33 trillion, a price-to-earnings ratio of 35.11, a P/E/G ratio of 1.33 and a beta of 1.20. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.67 and a quick ratio of 2.67.

Meta Platforms (NASDAQ:METAGet Free Report) last released its quarterly earnings results on Thursday, February 1st. The social networking company reported $5.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.82 by $0.51. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. The firm had revenue of $40.11 billion for the quarter, compared to the consensus estimate of $39.12 billion. During the same quarter last year, the business posted $3.00 EPS. The company’s revenue for the quarter was up 24.7% on a year-over-year basis. Equities analysts expect that Meta Platforms, Inc. will post 20.03 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Thursday, February 22nd were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date was Wednesday, February 21st. Meta Platforms’s payout ratio is currently 13.42%.

About Meta Platforms

(Free Report)

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.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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