Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Gill Capital Partners LLC

Gill Capital Partners LLC grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 5.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,080 shares of the social networking company’s stock after acquiring an additional 52 shares during the period. Gill Capital Partners LLC’s holdings in Meta Platforms were worth $618,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of META. Delos Wealth Advisors LLC lifted its position in shares of Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after acquiring an additional 58 shares during the last quarter. POM Investment Strategies LLC acquired a new stake in shares of Meta Platforms during the 2nd quarter valued at $38,000. Ruedi Wealth Management Inc. lifted its position in shares of Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after acquiring an additional 44 shares during the last quarter. Richardson Financial Services Inc. lifted its position in shares of Meta Platforms by 95.6% during the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after acquiring an additional 43 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in shares of Meta Platforms during the 1st quarter valued at $44,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In related news, CFO Susan J. Li sold 8,950 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $4,714,502.00. Following the completion of the sale, the chief financial officer now owns 74,579 shares in the company, valued at approximately $39,285,234.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Susan J. Li sold 8,950 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $4,714,502.00. Following the completion of the sale, the chief financial officer now owns 74,579 shares in the company, valued at approximately $39,285,234.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Javier Olivan sold 413 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $583.73, for a total transaction of $241,080.49. Following the completion of the sale, the chief operating officer now owns 11,946 shares of the company’s stock, valued at approximately $6,973,238.58. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 266,332 shares of company stock worth $139,981,833 over the last ninety days. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Up 1.4 %

META stock opened at $592.89 on Wednesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. Meta Platforms, Inc. has a 52-week low of $279.40 and a 52-week high of $602.95. The company has a 50-day moving average of $532.05 and a two-hundred day moving average of $503.76. The stock has a market capitalization of $1.50 trillion, a price-to-earnings ratio of 34.05, a price-to-earnings-growth ratio of 1.39 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. During the same period in the prior year, the company earned $3.23 earnings per share. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Meta Platforms, Inc. will post 21.36 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Bank of America increased their price objective on Meta Platforms from $563.00 to $630.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. BMO Capital Markets reissued a “market perform” rating and set a $450.00 target price on shares of Meta Platforms in a research note on Wednesday, June 12th. Rosenblatt Securities boosted their target price on shares of Meta Platforms from $643.00 to $811.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Piper Sandler boosted their target price on shares of Meta Platforms from $545.00 to $575.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Meta Platforms from $610.00 to $640.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, two have given 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 MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus price target of $601.08.

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.