Gateway Wealth Partners LLC Has $2.30 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

Gateway Wealth Partners LLC reduced its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,021 shares of the social networking company’s stock after selling 109 shares during the quarter. Gateway Wealth Partners LLC’s holdings in Meta Platforms were worth $2,302,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. boosted its stake in shares of Meta Platforms by 4.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 54,116 shares of the social networking company’s stock valued at $30,978,000 after buying an additional 2,431 shares during the period. Traynor Capital Management Inc. boosted its position in Meta Platforms by 140.9% during the third quarter. Traynor Capital Management Inc. now owns 3,199 shares of the social networking company’s stock valued at $1,831,000 after purchasing an additional 1,871 shares during the last quarter. abrdn plc grew its stake in Meta Platforms by 4.6% in the third quarter. abrdn plc now owns 1,389,194 shares of the social networking company’s stock valued at $794,647,000 after purchasing an additional 60,486 shares in the last quarter. Cantor Fitzgerald Investment Advisors L.P. increased its position in Meta Platforms by 47.6% in the 3rd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 1,662 shares of the social networking company’s stock worth $951,000 after purchasing an additional 536 shares during the last quarter. Finally, Smith Group Asset Management LLC raised its stake in shares of Meta Platforms by 3.7% during the 3rd quarter. Smith Group Asset Management LLC now owns 68,329 shares of the social networking company’s stock worth $39,114,000 after purchasing an additional 2,445 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Trading Down 4.1 %

Shares of META opened at $567.58 on Friday. The stock has a 50 day simple moving average of $555.21 and a 200-day simple moving average of $512.56. 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 stock has a market cap of $1.44 trillion, a PE ratio of 32.60, a PEG ratio of 1.42 and a beta of 1.22. Meta Platforms, Inc. has a 1 year low of $296.86 and a 1 year high of $602.95.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. On average, sell-side analysts predict that Meta Platforms, Inc. will post 21.44 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.35%. Meta Platforms’s dividend payout ratio is 11.49%.

Analyst Upgrades and Downgrades

META has been the topic of a number of research reports. Roth Mkm increased their price objective on Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a report on Thursday. Guggenheim raised their price target on shares of Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a report on Monday, October 7th. Robert W. Baird upped their price objective on shares of Meta Platforms from $605.00 to $630.00 and gave the stock an “outperform” rating in a report on Thursday. Hsbc Global Res upgraded Meta Platforms to a “hold” rating in a report on Thursday, October 24th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $670.00 price target on shares of Meta Platforms in a research note on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $634.37.

Insider Transactions at Meta Platforms

In related news, CFO Susan J. Li sold 33,018 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total transaction of $17,101,342.92. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Susan J. Li sold 33,018 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total transaction of $17,101,342.92. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 84 shares of Meta Platforms stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $600.00, for a total value of $50,400.00. Following the completion of the transaction, the chief executive officer now directly owns 518,424 shares of the company’s stock, valued at $311,054,400. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 251,573 shares of company stock valued at $133,019,910. Corporate 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.