Global Trust Asset Management LLC Has $1.53 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Global Trust Asset Management LLC boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 232.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,680 shares of the social networking company’s stock after buying an additional 1,874 shares during the quarter. Global Trust Asset Management LLC’s holdings in Meta Platforms were worth $1,534,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in META. Mcdaniel Terry & Co. boosted its position in shares of Meta Platforms by 1.3% in the 3rd quarter. Mcdaniel Terry & Co. now owns 1,811 shares of the social networking company’s stock worth $1,037,000 after purchasing an additional 24 shares during the last quarter. Bogart Wealth LLC lifted its stake in Meta Platforms by 0.5% in the third quarter. Bogart Wealth LLC now owns 24,013 shares of the social networking company’s stock valued at $13,746,000 after buying an additional 128 shares during the period. Mason & Associates Inc boosted its holdings in Meta Platforms by 22.1% during the third quarter. Mason & Associates Inc now owns 1,068 shares of the social networking company’s stock worth $611,000 after buying an additional 193 shares during the last quarter. Yoder Wealth Management Inc. grew its position in shares of Meta Platforms by 8.5% during the 3rd quarter. Yoder Wealth Management Inc. now owns 1,415 shares of the social networking company’s stock worth $810,000 after buying an additional 111 shares during the period. Finally, Jackson Wealth Management LLC raised its position in shares of Meta Platforms by 71.8% in the 3rd quarter. Jackson Wealth Management LLC now owns 10,424 shares of the social networking company’s stock valued at $5,967,000 after acquiring an additional 4,355 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on META. Monness Crespi & Hardt boosted their price objective on shares of Meta Platforms from $570.00 to $620.00 and gave the company a “buy” rating in a report on Monday, September 30th. Wells Fargo & Company upped their price objective on shares of Meta Platforms from $647.00 to $652.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Robert W. Baird raised their price objective on Meta Platforms from $530.00 to $605.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Wolfe Research began coverage on Meta Platforms in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 target price for the company. Finally, The Goldman Sachs Group raised their target price on shares of Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have assigned a buy rating and two have issued 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 target price of $621.63.

Meta Platforms Stock Performance

Shares of NASDAQ META opened at $573.25 on Friday. Meta Platforms, Inc. has a 12 month low of $279.40 and a 12 month high of $602.95. The stock has a 50 day moving average of $551.05 and a 200-day moving average of $510.72. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $1.45 trillion, a P/E ratio of 29.26, a P/E/G ratio of 1.42 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.70 by $0.46. The firm had revenue of $39.07 billion for the quarter, compared to the consensus estimate 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. As a group, equities research analysts predict that Meta Platforms, Inc. will post 21.44 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) is presently 10.21%.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 84 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $600.00, for a total transaction of $50,400.00. Following the transaction, the chief executive officer now owns 518,424 shares in the company, valued at approximately $311,054,400. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Mark Zuckerberg sold 84 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $600.00, for a total transaction of $50,400.00. Following the transaction, the chief executive officer now directly owns 518,424 shares of the company’s stock, valued at approximately $311,054,400. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Susan J. Li sold 8,950 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the completion of the sale, the chief financial officer now directly owns 74,579 shares of the company’s stock, valued at $39,285,234.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 250,817 shares of company stock worth $132,547,715 over the last quarter. Company insiders own 13.71% of the company’s stock.

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.