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

Gainplan LLC grew its position in Meta Platforms, Inc. (NASDAQ:META) by 8.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 609 shares of the social networking company’s stock after buying an additional 50 shares during the period. Gainplan LLC’s holdings in Meta Platforms were worth $349,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Waterloo Capital L.P. raised its holdings in Meta Platforms by 45.9% during the fourth quarter. Waterloo Capital L.P. now owns 3,388 shares of the social networking company’s stock worth $1,199,000 after purchasing an additional 1,066 shares in the last quarter. Vermillion & White Wealth Management Group LLC acquired a new position in Meta Platforms during the fourth quarter worth about $50,000. Veritas Investment Partners UK Ltd. lifted its holdings in Meta Platforms by 52.2% in the 4th quarter. Veritas Investment Partners UK Ltd. now owns 1,172 shares of the social networking company’s stock valued at $415,000 after acquiring an additional 402 shares during the last quarter. Sompo Asset Management Co. Ltd. boosted its position in shares of Meta Platforms by 2.5% during the 4th quarter. Sompo Asset Management Co. Ltd. now owns 33,504 shares of the social networking company’s stock valued at $11,859,000 after purchasing an additional 814 shares in the last quarter. Finally, Security National Bank acquired a new position in shares of Meta Platforms in the 4th quarter worth approximately $94,000. Institutional investors own 79.91% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on META. Wolfe Research began coverage on shares of Meta Platforms in a report on Tuesday, July 16th. They set an “outperform” rating and a $620.00 target price for the company. Deutsche Bank Aktiengesellschaft boosted their target price on Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Roth Mkm lifted their price target on Meta Platforms from $510.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. raised their target price on shares of Meta Platforms from $610.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, September 26th. Finally, KeyCorp upped their price target on shares of Meta Platforms from $540.00 to $560.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $598.08.

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $530.75, for a total value of $8,864,586.50. Following the transaction, the chief executive officer now owns 169,372 shares of the company’s stock, valued at approximately $89,894,189. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the completion of the transaction, the chief technology officer now owns 11,990 shares in the company, valued at approximately $6,315,852.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $530.75, for a total transaction of $8,864,586.50. Following the sale, the chief executive officer now directly owns 169,372 shares in the company, valued at $89,894,189. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 300,228 shares of company stock worth $158,005,260. 13.71% of the stock is owned by company insiders.

Meta Platforms Trading Up 2.3 %

Shares of Meta Platforms stock traded up $13.17 on Friday, hitting $595.94. 14,199,788 shares of the company’s stock traded hands, compared to its average volume of 15,523,651. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $596.85. 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 capitalization of $1.51 trillion, a PE ratio of 34.23, a price-to-earnings-growth ratio of 1.39 and a beta of 1.22. The firm’s 50-day moving average price is $524.47 and its two-hundred day moving average price is $501.92.

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

Meta Platforms Dividend Announcement

The firm 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. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio is currently 11.49%.

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.