Columbus Hill Capital Management L.P. Has $27.15 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Columbus Hill Capital Management L.P. lifted its position in Meta Platforms, Inc. (NASDAQ:META) by 233.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 53,850 shares of the social networking company’s stock after buying an additional 37,718 shares during the period. Meta Platforms comprises 5.6% of Columbus Hill Capital Management L.P.’s portfolio, making the stock its 5th largest holding. Columbus Hill Capital Management L.P.’s holdings in Meta Platforms were worth $27,152,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Capital Research Global Investors boosted its stake in Meta Platforms by 17.2% during the 4th quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock valued at $10,695,722,000 after purchasing an additional 4,440,229 shares during the last quarter. Concentrum Wealth Management lifted its holdings in shares of Meta Platforms by 111.0% during the fourth quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock valued at $2,616,000 after purchasing an additional 3,888,308 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Meta Platforms by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock valued at $65,960,215,000 after buying an additional 3,104,550 shares during the last quarter. Jennison Associates LLC increased its holdings in Meta Platforms by 24.7% in the 1st quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock worth $6,733,731,000 after buying an additional 2,748,620 shares in the last quarter. Finally, Sustainable Growth Advisers LP purchased a new position in Meta Platforms in the 2nd quarter worth about $595,152,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

META has been the subject of a number of research analyst reports. Citigroup lifted their price target on shares of Meta Platforms from $550.00 to $580.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. BMO Capital Markets reiterated a “market perform” rating and set a $450.00 target price on shares of Meta Platforms in a research note on Wednesday, June 12th. KeyCorp increased their price target on Meta Platforms from $540.00 to $560.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Tigress Financial lifted their price objective on Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a report on Friday, August 16th. Finally, Barclays increased their target price on Meta Platforms from $520.00 to $550.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-four have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and an average price target of $577.26.

Meta Platforms Stock Performance

META opened at $561.35 on Monday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The stock has a market capitalization of $1.42 trillion, a price-to-earnings ratio of 32.24, a PEG ratio of 1.26 and a beta of 1.21. The company has a fifty day moving average of $507.58 and a 200 day moving average of $497.27. Meta Platforms, Inc. has a fifty-two week low of $279.40 and a fifty-two week high of $564.50.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The firm had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter last year, the business posted $3.23 earnings per share. As a group, sell-side analysts forecast that Meta Platforms, Inc. will post 21.36 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Monday, September 16th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.36%. Meta Platforms’s dividend payout ratio is currently 11.49%.

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $537.72, for a total transaction of $486,636.60. Following the completion of the transaction, the insider now owns 36,912 shares in the company, valued at $19,848,320.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Susan J. Li sold 33,018 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total value of $17,101,342.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $537.72, for a total transaction of $486,636.60. Following the transaction, the insider now directly owns 36,912 shares of the company’s stock, valued at $19,848,320.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 346,666 shares of company stock valued at $180,145,414. 13.71% of the stock is owned by corporate insiders.

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.