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

Goldstream Capital Management Ltd raised its position in Meta Platforms, Inc. (NASDAQ:META) by 13.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 47,293 shares of the social networking company’s stock after buying an additional 5,645 shares during the quarter. Meta Platforms comprises 7.8% of Goldstream Capital Management Ltd’s investment portfolio, making the stock its 3rd biggest position. Goldstream Capital Management Ltd’s holdings in Meta Platforms were worth $27,691,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of META. Millstone Evans Group LLC purchased a new stake in shares of Meta Platforms in the fourth quarter worth about $40,000. Avondale Wealth Management purchased a new position in Meta Platforms in the 4th quarter worth approximately $41,000. WealthTrak Capital Management LLC purchased a new position in Meta Platforms in the 4th quarter worth approximately $43,000. Cordant Inc. acquired a new stake in Meta Platforms in the fourth quarter valued at approximately $59,000. Finally, Conquis Financial LLC acquired a new position in shares of Meta Platforms during the fourth quarter worth $59,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Raymond James reaffirmed a “strong-buy” rating and set a $800.00 price target (up previously from $725.00) on shares of Meta Platforms in a research note on Thursday, January 30th. Royal Bank of Canada lifted their target price on Meta Platforms from $700.00 to $800.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Tigress Financial reissued a “strong-buy” rating on shares of Meta Platforms in a report on Tuesday, February 11th. Argus set a $775.00 target price on Meta Platforms in a research report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. reduced their target price on Meta Platforms from $725.00 to $610.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five 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 stock has an average rating of “Moderate Buy” and a consensus price target of $684.10.

Meta Platforms Stock Down 0.2 %

Meta Platforms stock opened at $501.48 on Monday. The company’s 50-day moving average price is $608.14 and its two-hundred day moving average price is $607.21. The stock has a market cap of $1.27 trillion, a price-to-earnings ratio of 20.96, a PEG ratio of 1.42 and a beta of 1.28. Meta Platforms, Inc. has a 52 week low of $414.50 and a 52 week high of $740.91. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating analysts’ consensus estimates 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 quarter last year, the firm earned $5.33 EPS. On average, analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

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

Insider Activity

In other Meta Platforms news, COO Javier Olivan sold 413 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $618.00, for a total value of $255,234.00. Following the completion of the sale, the chief operating officer now directly owns 16,275 shares of the company’s stock, valued at approximately $10,057,950. This represents a 2.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 902 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $713.32, for a total transaction of $643,414.64. Following the transaction, the insider now owns 27,488 shares of the company’s stock, valued at approximately $19,607,740.16. This trade represents a 3.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 379,901 shares of company stock worth $260,806,516 over the last 90 days. 13.71% of the stock is currently owned by company insiders.

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.