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

GAMMA Investing LLC grew its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 22.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,459 shares of the social networking company’s stock after buying an additional 2,976 shares during the quarter. Meta Platforms makes up about 1.6% of GAMMA Investing LLC’s investment portfolio, making the stock its 6th largest holding. GAMMA Investing LLC’s holdings in Meta Platforms were worth $7,992,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Baird Financial Group Inc. raised its stake in shares of Meta Platforms by 24.2% in the 4th quarter. Baird Financial Group Inc. now owns 835,972 shares of the social networking company’s stock valued at $295,901,000 after acquiring an additional 163,067 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Meta Platforms by 1.5% in the 4th quarter. California State Teachers Retirement System now owns 3,576,285 shares of the social networking company’s stock valued at $1,265,862,000 after acquiring an additional 51,900 shares in the last quarter. Donoghue Forlines LLC raised its stake in shares of Meta Platforms by 94.4% in the 4th quarter. Donoghue Forlines LLC now owns 8,349 shares of the social networking company’s stock valued at $2,955,000 after acquiring an additional 4,054 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Meta Platforms by 7.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company’s stock valued at $159,841,000 after acquiring an additional 32,423 shares in the last quarter. Finally, Voyager Global Management LP raised its stake in shares of Meta Platforms by 37.3% in the 4th quarter. Voyager Global Management LP now owns 515,000 shares of the social networking company’s stock valued at $182,289,000 after acquiring an additional 140,000 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. BMO Capital Markets reissued a “market perform” rating and issued a $450.00 price objective on shares of Meta Platforms in a research note on Wednesday, June 12th. TD Cowen dropped their price target on Meta Platforms from $590.00 to $530.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Wedbush dropped their price target on Meta Platforms from $570.00 to $480.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. JMP Securities reaffirmed a “market outperform” rating and issued a $550.00 price target on shares of Meta Platforms in a research report on Monday, April 22nd. Finally, Roth Mkm lifted their price target on Meta Platforms from $500.00 to $510.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and an average target price of $510.41.

Meta Platforms Trading Down 1.4 %

Shares of META opened at $499.49 on Thursday. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 12-month low of $274.38 and a 12-month high of $531.49. The firm has a market capitalization of $1.27 trillion, a PE ratio of 28.69, a price-to-earnings-growth ratio of 1.30 and a beta of 1.21. The stock’s fifty day simple moving average is $479.79 and its 200-day simple moving average is $445.53.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The business had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. As a group, research analysts predict that Meta Platforms, Inc. will post 20.16 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Friday, June 14th. Meta Platforms’s payout ratio is 11.49%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total value of $305,370.00. Following the transaction, the insider now owns 38,398 shares of the company’s stock, valued at $20,043,756. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total value of $305,370.00. Following the transaction, the insider now owns 38,398 shares of the company’s stock, valued at $20,043,756. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark Zuckerberg sold 77,412 shares of the stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $506.92, for a total value of $39,241,691.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 391,071 shares of company stock valued at $192,834,857. 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.