Greystone Financial Group LLC Buys 564 Shares of Meta Platforms, Inc. (NASDAQ:META)

Greystone Financial Group LLC grew its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 16.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,961 shares of the social networking company's stock after purchasing an additional 564 shares during the quarter. Greystone Financial Group LLC's holdings in Meta Platforms were worth $2,283,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Millstone Evans Group LLC bought a new position in Meta Platforms in the 4th quarter valued at about $40,000. WealthTrak Capital Management LLC acquired a new stake in shares of Meta Platforms during the 4th quarter valued at $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Meta Platforms during the fourth quarter valued at about $45,000. Stuart Chaussee & Associates Inc. acquired a new stake in Meta Platforms during the 4th quarter worth approximately $47,000. Finally, Principia Wealth Advisory LLC grew its stake in shares of Meta Platforms by 53.6% in the first quarter. Principia Wealth Advisory LLC now owns 86 shares of the social networking company's stock worth $50,000 after purchasing an additional 30 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

META traded up $0.25 during midday trading on Wednesday, reaching $702.65. The company had a trading volume of 2,274,250 shares, compared to its average volume of 14,475,575. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91. The business has a 50-day moving average price of $593.29 and a two-hundred day moving average price of $617.09. The stock has a market cap of $1.77 trillion, a PE ratio of 29.40, a P/E/G ratio of 1.42 and a beta of 1.26. 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 - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating the consensus estimate of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The business had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter in the prior year, the business earned $4.71 earnings per share. Meta Platforms's revenue for the quarter was up 16.1% on a year-over-year basis. On average, sell-side analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be given a dividend of $0.525 per share. The ex-dividend date is Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.30%. Meta Platforms's dividend payout ratio is presently 8.19%.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 1,462 shares of the company's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $701.13, for a total transaction of $1,025,052.06. Following the sale, the chief executive officer now directly owns 139,538 shares of the company's stock, valued at $97,834,277.94. This represents a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Javier Olivan sold 406 shares of the stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $491.69, for a total transaction of $199,626.14. Following the transaction, the chief operating officer now owns 4,608 shares of the company's stock, valued at $2,265,707.52. This represents a 8.10% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,104 shares of company stock worth $35,270,242. 13.61% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on META shares. Piper Sandler upped their target price on Meta Platforms from $610.00 to $650.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Monness Crespi & Hardt boosted their target price on shares of Meta Platforms from $775.00 to $780.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. KeyCorp raised their price target on shares of Meta Platforms from $645.00 to $655.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Roth Capital upped their price objective on shares of Meta Platforms from $580.00 to $620.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Finally, Truist Financial increased their price objective on shares of Meta Platforms from $700.00 to $720.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $702.48.

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.