Gateway Wealth Partners LLC Has $2.08 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Gateway Wealth Partners LLC grew its position in Meta Platforms, Inc. (NASDAQ:META) by 164.7% in the second quarter, Holdings Channel.com reports. The fund owned 4,130 shares of the social networking company’s stock after buying an additional 2,570 shares during the period. Gateway Wealth Partners LLC’s holdings in Meta Platforms were worth $2,082,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. S.A. Mason LLC grew its position in Meta Platforms by 1.5% in the first quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock valued at $645,000 after acquiring an additional 20 shares during the period. Front Row Advisors LLC lifted its stake in shares of Meta Platforms by 5.7% during the second quarter. Front Row Advisors LLC now owns 371 shares of the social networking company’s stock valued at $187,000 after acquiring an additional 20 shares during the period. Horizon Bancorp Inc. IN boosted its stake in shares of Meta Platforms by 2.0% in the 1st quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock valued at $513,000 after purchasing an additional 21 shares during the last quarter. Northern Capital Management Inc. grew its holdings in Meta Platforms by 3.4% during the 1st quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company’s stock worth $314,000 after acquiring an additional 21 shares during the period. Finally, Buckingham Capital Management Inc. increased its holdings in Meta Platforms by 5.1% in the second quarter. Buckingham Capital Management Inc. now owns 433 shares of the social networking company’s stock valued at $218,000 after purchasing an additional 21 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Price Performance

META stock opened at $567.36 on Monday. Meta Platforms, Inc. has a 1 year low of $279.40 and a 1 year high of $577.40. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. The stock has a market cap of $1.44 trillion, a price-to-earnings ratio of 32.59, a P/E/G ratio of 1.39 and a beta of 1.21. The company has a 50 day simple moving average of $516.19 and a 200 day simple moving average of $499.63.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $38.26 billion. During the same quarter in the previous year, the business earned $3.23 earnings per share. Meta Platforms’s revenue was up 22.1% compared to the same quarter last year. Research analysts anticipate that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm 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 dividend yield of 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s payout ratio is 11.49%.

Analysts Set New Price Targets

META has been the topic of a number of recent analyst reports. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research report on Wednesday, September 4th. Bank of America raised their price target on shares of Meta Platforms from $563.00 to $630.00 and gave the stock a “buy” rating in a research note on Thursday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $660.00 target price on shares of Meta Platforms in a research report on Monday, September 23rd. TD Securities boosted their target price on shares of Meta Platforms from $530.00 to $600.00 in a report on Wednesday, July 10th. Finally, UBS Group upped their price objective on Meta Platforms from $630.00 to $635.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have given a hold rating, thirty-four have assigned 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 a consensus rating of “Moderate Buy” and an average target price of $591.23.

Insider Activity

In other news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $500.57, for a total transaction of $453,015.85. Following the completion of the transaction, the insider now directly owns 37,845 shares in the company, valued at $18,944,071.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $509.10, for a total value of $8,502,988.20. Following the transaction, the chief executive officer now owns 186,826 shares in the company, valued at approximately $95,113,116.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $500.57, for a total value of $453,015.85. Following the completion of the transaction, the insider now directly owns 37,845 shares in the company, valued at approximately $18,944,071.65. The disclosure for this sale can be found here. Insiders sold a total of 325,656 shares of company stock worth $171,028,659 in the last three months. Company insiders own 13.71% of the company’s stock.

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.