Steel Grove Capital Advisors LLC Has $359,000 Stake in Meta Platforms, Inc. (NASDAQ:META)

Steel Grove Capital Advisors LLC cut its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 46.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,014 shares of the social networking company’s stock after selling 889 shares during the quarter. Steel Grove Capital Advisors LLC’s holdings in Meta Platforms were worth $359,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Stone House Investment Management LLC lifted its position in shares of Meta Platforms by 625.0% in the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after acquiring an additional 75 shares during the period. MBM Wealth Consultants LLC acquired a new stake in shares of Meta Platforms during the 4th quarter valued at about $26,000. Stephens Investment Management Group LLC bought a new stake in Meta Platforms in the second quarter valued at about $30,000. Beaird Harris Wealth Management LLC raised its position in Meta Platforms by 68.9% in the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after purchasing an additional 42 shares in the last quarter. Finally, PayPay Securities Corp boosted its holdings in Meta Platforms by 65.2% during the third quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 43 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 490 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $488.03, for a total value of $239,134.70. Following the completion of the sale, the chief operating officer now owns 79,944 shares in the company, valued at $39,015,070.32. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, COO Javier Olivan sold 490 shares of Meta Platforms stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $488.03, for a total transaction of $239,134.70. Following the completion of the transaction, the chief operating officer now directly owns 79,944 shares in the company, valued at approximately $39,015,070.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Susan J. Li sold 10,956 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $473.28, for a total value of $5,185,255.68. Following the completion of the sale, the chief financial officer now owns 76,398 shares in the company, valued at approximately $36,157,645.44. The disclosure for this sale can be found here. Insiders have sold a total of 1,504,435 shares of company stock worth $703,629,367 in the last 90 days. Corporate insiders own 13.75% of the company’s stock.

Analyst Upgrades and Downgrades

META has been the subject of a number of analyst reports. Barclays lifted their price objective on Meta Platforms from $400.00 to $550.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Stifel Nicolaus raised their price objective on shares of Meta Platforms from $405.00 to $527.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Piper Sandler lifted their target price on shares of Meta Platforms from $415.00 to $525.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Mizuho increased their price target on Meta Platforms from $470.00 to $575.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Finally, The Goldman Sachs Group lifted their price objective on Meta Platforms from $414.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $496.35.

Meta Platforms Stock Down 1.0 %

Shares of Meta Platforms stock traded down $4.74 during trading on Thursday, reaching $489.12. The stock had a trading volume of 9,126,516 shares, compared to its average volume of 17,803,041. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $1.25 trillion, a price-to-earnings ratio of 32.84, a P/E/G ratio of 1.28 and a beta of 1.21. Meta Platforms, Inc. has a 52 week low of $202.54 and a 52 week high of $523.57. The stock has a fifty day moving average price of $464.84 and a two-hundred day moving average price of $375.30.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Thursday, February 1st. The social networking company reported $5.33 earnings per share for the quarter, topping the consensus estimate of $4.82 by $0.51. The company had revenue of $40.11 billion during the quarter, compared to analysts’ expectations of $39.12 billion. Meta Platforms had a net margin of 28.98% and a return on equity of 29.48%. The business’s quarterly revenue was up 24.7% on a year-over-year basis. During the same period last year, the business earned $3.00 EPS. Sell-side analysts predict that Meta Platforms, Inc. will post 19.94 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, February 22nd were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $2.00 dividend on an annualized basis and a yield of 0.41%. Meta Platforms’s dividend payout ratio is 13.42%.

Meta Platforms Company 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.