Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC increased its stake in Meta Platforms, Inc. (NASDAQ:META) by 48.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,402 shares of the social networking company’s stock after purchasing an additional 7,943 shares during the period. Meta Platforms makes up 1.7% of GAMMA Investing LLC’s holdings, making the stock its 6th largest position. GAMMA Investing LLC’s holdings in Meta Platforms were worth $12,304,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Colonial River Wealth Management LLC boosted its stake in shares of Meta Platforms by 85.4% during the 4th quarter. Colonial River Wealth Management LLC now owns 4,629 shares of the social networking company’s stock worth $1,638,000 after buying an additional 2,132 shares during the last quarter. ERTS Wealth Advisors LLC lifted its stake in Meta Platforms by 1.8% in the 4th quarter. ERTS Wealth Advisors LLC now owns 1,769 shares of the social networking company’s stock valued at $626,000 after purchasing an additional 32 shares during the last quarter. Independence Bank of Kentucky lifted its stake in Meta Platforms by 0.9% in the 4th quarter. Independence Bank of Kentucky now owns 12,191 shares of the social networking company’s stock valued at $4,315,000 after purchasing an additional 110 shares during the last quarter. Arcadia Wealth Management LLC acquired a new stake in Meta Platforms in the 4th quarter valued at about $225,000. Finally, Parcion Private Wealth LLC lifted its stake in Meta Platforms by 2.5% in the 4th quarter. Parcion Private Wealth LLC now owns 2,658 shares of the social networking company’s stock valued at $941,000 after purchasing an additional 64 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead 905 shares of the business’s stock in a transaction on Tuesday, July 30th. The was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Jennifer Newstead 905 shares of the firm’s stock in a transaction on Tuesday, July 30th. The was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nicholas Clegg sold 1,135 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total transaction of $535,549.75. Following the completion of the sale, the insider now directly owns 8,753 shares of the company’s stock, valued at approximately $4,130,103.05. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 310,685 shares of company stock valued at $154,398,206. Company insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on META. The Goldman Sachs Group raised their target price on shares of Meta Platforms from $522.00 to $555.00 and gave the company a “buy” rating in a research note on Thursday. Guggenheim increased their price target on shares of Meta Platforms from $500.00 to $600.00 and gave the company a “buy” rating in a report on Thursday. JPMorgan Chase & Co. increased their price target on shares of Meta Platforms from $480.00 to $610.00 and gave the company an “overweight” rating in a report on Thursday. Jefferies Financial Group increased their price target on shares of Meta Platforms from $565.00 to $600.00 and gave the company a “buy” rating in a report on Thursday. Finally, Bank of America increased their price target on shares of Meta Platforms from $550.00 to $563.00 and gave the company a “buy” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $571.84.

Meta Platforms Stock Down 1.9 %

Meta Platforms stock traded down $9.60 during midday trading on Friday, hitting $488.14. 24,044,658 shares of the stock were exchanged, compared to its average volume of 17,151,374. Meta Platforms, Inc. has a 52-week low of $274.38 and a 52-week high of $542.81. The stock has a market capitalization of $1.24 trillion, a price-to-earnings ratio of 28.04, a price-to-earnings-growth ratio of 1.27 and a beta of 1.21. The business’s 50-day moving average price is $494.09 and its 200-day moving average price is $479.87. The company has a quick ratio of 2.68, a current ratio of 2.83 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last released its earnings results 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 for the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period in the previous year, the company earned $3.23 earnings per share. On average, research analysts expect that Meta Platforms, Inc. will post 20.5 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s dividend payout ratio (DPR) is currently 11.49%.

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.