Meta Platforms, Inc. (NASDAQ:META) is Goldstream Capital Management Ltd’s 3rd Largest Position

Goldstream Capital Management Ltd grew its holdings in Meta Platforms, Inc. (NASDAQ:META) by 13.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,293 shares of the social networking company’s stock after purchasing an additional 5,645 shares during the quarter. Meta Platforms comprises approximately 7.8% of Goldstream Capital Management Ltd’s portfolio, making the stock its 3rd largest holding. Goldstream Capital Management Ltd’s holdings in Meta Platforms were worth $27,691,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in META. Norges Bank purchased a new stake in Meta Platforms during the fourth quarter worth about $19,949,512,000. Proficio Capital Partners LLC boosted its stake 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. acquired a new position in shares of Meta Platforms in the fourth quarter valued at approximately $2,243,603,000. Arrowstreet Capital Limited Partnership lifted its holdings in Meta Platforms by 27.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 8,901,521 shares of the social networking company’s stock worth $5,211,967,000 after buying an additional 1,892,509 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Meta Platforms by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company’s stock valued at $111,948,344,000 after buying an additional 1,502,553 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

META has been the topic of several recent analyst reports. KeyCorp dropped their target price on Meta Platforms from $710.00 to $645.00 and set an “overweight” rating on the stock in a report on Wednesday, April 9th. The Goldman Sachs Group cut their target price on Meta Platforms from $765.00 to $685.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Cantor Fitzgerald lowered their price target on Meta Platforms from $790.00 to $624.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Morgan Stanley cut their price objective on shares of Meta Platforms from $660.00 to $615.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Susquehanna upped their target price on shares of Meta Platforms from $675.00 to $800.00 and gave the company a “positive” rating in a report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $684.10.

Insider Activity at Meta Platforms

In related news, COO Javier Olivan sold 608 shares of the company’s stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $556.45, for a total transaction of $338,321.60. Following the transaction, the chief operating officer now owns 5,014 shares of the company’s stock, valued at approximately $2,790,040.30. This represents a 10.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jennifer Newstead sold 921 shares of Meta Platforms stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $531.22, for a total transaction of $489,253.62. Following the completion of the sale, the insider now directly owns 28,419 shares of the company’s stock, valued at $15,096,741.18. The trade was a 3.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 379,901 shares of company stock valued at $260,806,516. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Stock Performance

Shares of META stock opened at $501.48 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The stock has a market cap of $1.27 trillion, a PE ratio of 20.96, a P/E/G ratio of 1.42 and a beta of 1.28. Meta Platforms, Inc. has a 1 year low of $414.50 and a 1 year high of $740.91. The stock has a fifty day moving average price of $608.14 and a 200 day moving average price of $607.21.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping the consensus estimate of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same period last year, the firm posted $5.33 EPS. Sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Friday, March 14th were given a dividend of $0.525 per share. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a dividend yield of 0.42%. The ex-dividend date was Friday, March 14th. Meta Platforms’s payout ratio is currently 8.78%.

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.