Gill Capital Partners LLC owns $618,000 in Meta Platforms, Inc. (NASDAQ:META)

Gill Capital Partners LLC increased its holdings in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 5.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,080 shares of the social media 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 quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. StoneCrest Wealth Management Inc. raised its position in Meta Platforms by 3.4% in the third quarter. StoneCrest Wealth Management Inc. now owns 8,620 shares of the social networking company’s stock worth $4,934,000 after buying an additional 282 shares during the last quarter. Sovereign Financial Group Inc. grew its position in Meta Platforms by 3.9% in the third quarter. Sovereign Financial Group Inc. now owns 3,381 shares of the social networking company’s stock worth $1,936,000 after purchasing an additional 128 shares during the last quarter. Pathway Financial Advisors LLC boosted its holdings in shares of Meta Platforms by 8.1% in the third quarter. Pathway Financial Advisors LLC now owns 1,952 shares of the social networking company’s stock worth $1,117,000 after buying an additional 146 shares during the last quarter. Hoxton Planning & Management LLC boosted its holdings in shares of Meta Platforms by 5.6% in the third quarter. Hoxton Planning & Management LLC now owns 3,240 shares of the social networking company’s stock worth $1,855,000 after buying an additional 172 shares during the last quarter. Finally, Gratus Wealth Advisors LLC acquired a new stake in shares of Meta Platforms during the third quarter worth approximately $713,000. Institutional investors and hedge funds own 79.91% of the company’s shares.

Changes in Analyst Ratings

Several analysts recently weighed in on META shares. Guggenheim boosted their price objective on shares of Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a report on Monday. KeyCorp lifted their price objective on shares of Meta Platforms from $540.00 to $560.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Pivotal Research started coverage on shares of Meta Platforms in a report on Tuesday, October 1st. They set a “buy” rating and a $780.00 price objective for the company. Cantor Fitzgerald restated an “overweight” rating and set a $660.00 price objective on shares of Meta Platforms in a report on Monday. Finally, Robert W. Baird raised their price objective on shares of Meta Platforms from $530.00 to $605.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th . Two analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus price target of $601.08.

Check out our latest research report on META

Transactions within meta platforms

In other news, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $530.81, for a total transaction of $218,693.72. Following the transaction, the chief operating officer now directly owns 6,383 shares of the company’s stock, valued at $3,388,160.23. This trade represents a decrease of 0.00 % in the stock holding. The sale was disclosed in a filing with the SEC, which is available via this hyperlink. In related news, CFO Susan J. Li sold 33,018 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed via this link. Also, COO Javier Olivan sold 412 shares of the business’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $530.81, for a total transaction of $218,693.72. Following the completion of the sale, the chief operating officer now directly owns 6,383 shares in the company, valued at $3,388,160.23. This represents a 0.00 % decrease in ownership of the shares. The disclosure for this sale can be found here. Insiders have sold a total of 266,332 shares of the company worth $139,981,833 over the last three months. 13.71% of shares are currently owned by corporate insiders.

Trading on meta platforms increased by 1.4%

Shares of NASDAQ META opened at $592.89 on Wednesday. The company’s fifty day moving average is $532.05 and its 200 day moving average is $503.76. The stock has a market cap of $1.50 trillion, a price-to-earnings ratio of 34.05, a P/E/G ratio of 1.39 and a beta of 1.22. Meta Platforms, Inc. has a twelve month low of $279.40 and a twelve month high of $602.95. The company has a quick ratio of 2.83, a current ratio of 2.83, and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META – Get Free Report ) last announced its quarterly earnings results on Wednesday, July 31st. The social media company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The company 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% compared to the same quarter last year. During the same period last year, the company posted earnings of $3.23 per share. Equities research analysts predict 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. Stockholders of record on Monday, September 16th were given a dividend of $0.50 per share. The ex-dividend date was Monday, September 16. This represents a dividend of $2.00 on an annualized basis and a dividend yield of 0.34%. Meta Platforms’ dividend payout ratio is 11.49%.

About Meta Platforms

(Free report)

Meta Platforms, Inc is committed to developing products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets and wearables around the world. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which allows people to share, chat, discover and connect with interests; Instagram, a community for sharing photos, videos and private messages, as well as feeds, stories, movies, videos, live and shops; Messenger, a messaging app for people to connect with friends, family, communities and businesses across platforms and devices through text, audio and video calls; and WhatsApp, a messaging app that is used by people and businesses to communicate and transact privately.

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