Gordian Capital Singapore Pte Ltd Buys 8,638 Shares of Meta Platforms, Inc. (NASDAQ:META)

Gordian Capital Singapore Pte Ltd grew its holdings in Meta Platforms, Inc. (NASDAQ:META) by 52.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 25,005 shares of the social networking company’s stock after buying an additional 8,638 shares during the period. Meta Platforms accounts for approximately 6.6% of Gordian Capital Singapore Pte Ltd’s holdings, making the stock its 6th largest holding. Gordian Capital Singapore Pte Ltd’s holdings in Meta Platforms were worth $12,608,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of META. Delos Wealth Advisors LLC lifted its stake in shares of Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after purchasing an additional 58 shares during the last quarter. POM Investment Strategies LLC purchased a new stake in shares of Meta Platforms in the 2nd quarter valued at $38,000. Ruedi Wealth Management Inc. raised its holdings in shares of Meta Platforms by 122.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after buying an additional 44 shares during the period. Richardson Financial Services Inc. raised its holdings in shares of Meta Platforms by 95.6% in the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after buying an additional 43 shares during the period. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in shares of Meta Platforms in the 1st quarter valued at $44,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Up 0.7 %

Shares of NASDAQ META opened at $576.47 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The firm has a market cap of $1.46 trillion, a price-to-earnings ratio of 33.11, a PEG ratio of 1.39 and a beta of 1.21. Meta Platforms, Inc. has a 1 year low of $279.40 and a 1 year high of $583.04. The stock’s 50-day simple moving average is $519.65 and its 200-day simple moving average is $500.85.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.46. The firm had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. Meta Platforms’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 analysts anticipate that Meta Platforms, Inc. will post 21.36 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

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

Analysts Set New Price Targets

Several research firms recently issued reports on META. TD Securities boosted their price objective on Meta Platforms from $530.00 to $600.00 in a report on Wednesday, July 10th. Morgan Stanley boosted their price objective on Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Bank of America upped their price target on Meta Platforms from $563.00 to $630.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Monness Crespi & Hardt upped their price target on Meta Platforms from $570.00 to $620.00 and gave the stock a “buy” rating in a report on Monday. Finally, Rosenblatt Securities upped their target price on Meta Platforms from $643.00 to $811.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, two have given a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $597.95.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of Meta Platforms stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $451.15, for a total value of $406,486.15. Following the completion of the transaction, the insider now directly owns 33,324 shares in the company, valued at $15,034,122.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of Meta Platforms stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $451.15, for a total value of $406,486.15. Following the completion of the transaction, the insider now directly owns 33,324 shares in the company, valued at $15,034,122.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $570.00, for a total value of $235,410.00. Following the completion of the transaction, the chief operating officer now owns 12,359 shares of the company’s stock, valued at $7,044,630. The disclosure for this sale can be found here. Insiders sold a total of 308,462 shares of company stock worth $162,308,065 over the last ninety days. 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.