Grand Jean Capital Management Inc. Has $15.91 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Grand Jean Capital Management Inc. increased its position in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 75.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,937 shares of the social networking company’s stock after acquiring an additional 19,313 shares during the quarter. Meta Platforms comprises about 4.8% of Grand Jean Capital Management Inc.’s investment portfolio, making the stock its 6th biggest position. Grand Jean Capital Management Inc.’s holdings in Meta Platforms were worth $15,906,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. California State Teachers Retirement System grew its position in Meta Platforms by 1.5% during the fourth quarter. California State Teachers Retirement System now owns 3,576,285 shares of the social networking company’s stock worth $1,265,862,000 after buying an additional 51,900 shares in the last quarter. Donoghue Forlines LLC increased its position in shares of Meta Platforms by 94.4% during the fourth quarter. Donoghue Forlines LLC now owns 8,349 shares of the social networking company’s stock valued at $2,955,000 after purchasing an additional 4,054 shares during the period. Daiwa Securities Group Inc. raised its stake in shares of Meta Platforms by 7.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company’s stock valued at $159,841,000 after purchasing an additional 32,423 shares in the last quarter. Voyager Global Management LP lifted its position in Meta Platforms by 37.3% in the fourth quarter. Voyager Global Management LP now owns 515,000 shares of the social networking company’s stock worth $182,289,000 after purchasing an additional 140,000 shares during the period. Finally, Mitsubishi UFJ Asset Management UK Ltd. boosted its stake in Meta Platforms by 400.0% during the fourth quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 2,500 shares of the social networking company’s stock worth $885,000 after buying an additional 2,000 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

META has been the subject of a number of analyst reports. Oppenheimer cut their price objective on Meta Platforms from $585.00 to $500.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. KeyCorp reduced their price target on shares of Meta Platforms from $575.00 to $555.00 and set an “overweight” rating on the stock in a research report on Monday, April 22nd. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a report on Thursday, April 25th. UBS Group reduced their target price on Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Finally, The Goldman Sachs Group decreased their price target on Meta Platforms from $555.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus target price of $510.41.

Read Our Latest Stock Report on META

Meta Platforms Price Performance

Shares of NASDAQ:META traded down $4.26 during trading on Thursday, reaching $504.58. 5,271,753 shares of the company traded hands, compared to its average volume of 16,704,445. The firm has a market capitalization of $1.28 trillion, a PE ratio of 28.98, a PEG ratio of 1.30 and a beta of 1.21. Meta Platforms, Inc. has a 52 week low of $268.32 and a 52 week high of $531.49. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The company’s 50 day moving average is $480.99 and its two-hundred day moving average is $439.92.

Meta Platforms (NASDAQ:METAGet Free Report) last released its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.32 by $0.39. The business had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. As a group, sell-side analysts predict that Meta Platforms, Inc. will post 20.16 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Friday, June 14th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Friday, June 14th. Meta Platforms’s dividend payout ratio is currently 11.49%.

Insider Buying and Selling

In other news, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $488.50, for a total value of $285,772.50. Following the sale, the insider now directly owns 40,153 shares of the company’s stock, valued at approximately $19,614,740.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $488.50, for a total value of $285,772.50. Following the completion of the sale, the insider now directly owns 40,153 shares in the company, valued at $19,614,740.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $503.18, for a total value of $8,404,112.36. Following the transaction, the chief executive officer now owns 301,478 shares in the company, valued at $151,697,700.04. The disclosure for this sale can be found here. Insiders have sold a total of 514,525 shares of company stock valued at $253,108,340 over the last ninety days. 13.71% of the stock is owned by company insiders.

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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