Grandview Asset Management LLC Grows Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Grandview Asset Management LLC grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 4.8% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,283 shares of the social networking company's stock after acquiring an additional 429 shares during the period. Meta Platforms comprises approximately 2.0% of Grandview Asset Management LLC's investment portfolio, making the stock its 11th biggest holding. Grandview Asset Management LLC's holdings in Meta Platforms were worth $5,350,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of META. Norges Bank purchased a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $19,949,512,000. GAMMA Investing LLC boosted its holdings in shares of Meta Platforms by 67,172.9% in the first quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company's stock valued at $13,517,178,000 after purchasing an additional 23,417,803 shares during the period. Proficio Capital Partners LLC boosted its holdings in shares of Meta Platforms by 78,471.1% in the fourth quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company's stock valued at $3,658,713,000 after purchasing an additional 6,240,810 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $2,243,603,000. Finally, Northern Trust Corp boosted its holdings in shares of Meta Platforms by 13.5% in the fourth quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company's stock valued at $13,727,613,000 after purchasing an additional 2,787,832 shares during the period. Hedge funds and other institutional investors own 79.91% of the company's stock.

Meta Platforms Trading Down 1.9%

Shares of NASDAQ META traded down $13.42 during midday trading on Friday, reaching $682.35. 22,498,010 shares of the stock were exchanged, compared to its average volume of 14,546,632. The company has a 50 day simple moving average of $618.10 and a 200 day simple moving average of $623.08. The stock has a market capitalization of $1.72 trillion, a P/E ratio of 26.61, a PEG ratio of 1.71 and a beta of 1.26. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. The business had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The business's revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the firm earned $4.71 EPS. As a group, equities analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be given a dividend of $0.525 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.31%. Meta Platforms's payout ratio is currently 8.19%.

Insider Buying and Selling

In other Meta Platforms news, CTO Andrew Bosworth sold 22,449 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $636.85, for a total value of $14,296,645.65. Following the completion of the transaction, the chief technology officer now owns 1,183 shares of the company's stock, valued at $753,393.55. This trade represents a 94.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jennifer Newstead sold 921 shares of the firm's stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $627.05, for a total transaction of $577,513.05. Following the completion of the transaction, the insider now directly owns 31,182 shares of the company's stock, valued at $19,552,673.10. This represents a 2.87% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 111,031 shares of company stock valued at $73,954,565. Company insiders own 13.61% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on META shares. Needham & Company LLC reiterated an "underperform" rating on shares of Meta Platforms in a report on Thursday, May 1st. JMP Securities reissued a "market outperform" rating and issued a $750.00 price objective on shares of Meta Platforms in a research note on Wednesday, April 30th. DA Davidson reduced their price objective on shares of Meta Platforms from $800.00 to $650.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Cantor Fitzgerald upped their price target on Meta Platforms from $676.00 to $807.00 and gave the stock an "overweight" rating in a research report on Wednesday. Finally, Roth Capital upped their price target on Meta Platforms from $580.00 to $620.00 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 assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $710.00.

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.