Grove Street Fiduciary LLC Makes New Investment in Meta Platforms, Inc. (NASDAQ:META)

Grove Street Fiduciary LLC acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:META) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 474 shares of the social networking company’s stock, valued at approximately $278,000.

A number of other institutional investors have also made changes to their positions in the company. Arcadia Investment Management Corp MI increased its holdings in shares of Meta Platforms by 18.9% in the 4th quarter. Arcadia Investment Management Corp MI now owns 3,401 shares of the social networking company’s stock valued at $1,991,000 after acquiring an additional 541 shares during the last quarter. Compass Capital Corp MA ADV bought a new stake in shares of Meta Platforms in the 4th quarter valued at approximately $3,087,000. Summerhill Capital Management lnc. bought a new stake in shares of Meta Platforms in the 4th quarter valued at approximately $7,580,000. WP Advisors LLC increased its holdings in shares of Meta Platforms by 3.7% in the 4th quarter. WP Advisors LLC now owns 35,740 shares of the social networking company’s stock valued at $20,926,000 after acquiring an additional 1,272 shares during the last quarter. Finally, Cordatus Wealth Management LLC increased its holdings in shares of Meta Platforms by 10.8% in the 4th quarter. Cordatus Wealth Management LLC now owns 5,043 shares of the social networking company’s stock valued at $2,953,000 after acquiring an additional 490 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. UBS Group boosted their price target on Meta Platforms from $736.00 to $786.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Truist Financial boosted their price objective on Meta Platforms from $700.00 to $770.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a research report on Monday, January 27th. Benchmark upgraded Meta Platforms from a “hold” rating to a “buy” rating and set a $820.00 price objective for the company in a research report on Thursday, January 30th. Finally, KeyCorp boosted their price objective on Meta Platforms from $700.00 to $750.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $719.26.

Meta Platforms Trading Down 2.3 %

Shares of NASDAQ META opened at $658.24 on Friday. Meta Platforms, Inc. has a 12 month low of $414.50 and a 12 month high of $740.91. The company has a market cap of $1.67 trillion, a price-to-earnings ratio of 27.52, a P/E/G ratio of 1.42 and a beta of 1.20. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The business has a fifty day simple moving average of $651.52 and a 200-day simple moving average of $595.06.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating the consensus estimate of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same quarter in the prior year, the business earned $5.33 earnings per share. Sell-side analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.32%. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, March 14th. Meta Platforms’s dividend payout ratio is currently 8.78%.

Insider Activity

In related news, CEO Mark Zuckerberg sold 35,921 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $607.97, for a total value of $21,838,890.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Javier Olivan sold 413 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $577.49, for a total value of $238,503.37. Following the completion of the sale, the chief operating officer now directly owns 19,166 shares of the company’s stock, valued at approximately $11,068,173.34. This represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 813,951 shares of company stock valued at $526,565,232 over the last three months. Insiders own 13.71% of the company’s stock.

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.