13,483 Shares in Meta Platforms, Inc. (NASDAQ:META) Acquired by GAMMA Investing LLC

GAMMA Investing LLC bought a new stake in Meta Platforms, Inc. (NASDAQ:META) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 13,483 shares of the social networking company’s stock, valued at approximately $5,260,000. Meta Platforms accounts for about 1.4% of GAMMA Investing LLC’s holdings, making the stock its 7th largest position.

A number of other institutional investors have also made changes to their positions in META. FMR LLC grew its position in shares of Meta Platforms by 4.0% in the third quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock valued at $39,270,443,000 after purchasing an additional 5,001,647 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of Meta Platforms by 11,154.4% in the 4th quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company’s stock valued at $1,752,900,000 after acquiring an additional 4,908,251 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Meta Platforms by 55.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,632,631 shares of the social networking company’s stock valued at $2,591,602,000 after acquiring an additional 3,093,715 shares during the last quarter. Cerity Partners LLC lifted its stake in shares of Meta Platforms by 1,457.5% in the 4th quarter. Cerity Partners LLC now owns 3,156,360 shares of the social networking company’s stock valued at $1,117,225,000 after acquiring an additional 2,953,704 shares during the last quarter. Finally, Lone Pine Capital LLC bought a new position in Meta Platforms during the 3rd quarter worth $834,315,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on META. Mizuho raised their target price on Meta Platforms from $470.00 to $575.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. The Goldman Sachs Group lifted their price target on shares of Meta Platforms from $500.00 to $555.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Bank of America lifted their price objective on shares of Meta Platforms from $425.00 to $510.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. KeyCorp reduced their price target on shares of Meta Platforms from $575.00 to $555.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Royal Bank of Canada boosted their price target on shares of Meta Platforms from $400.00 to $565.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirty-eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $520.28.

Insider Transactions at Meta Platforms

In related news, COO Javier Olivan sold 4,500 shares of Meta Platforms stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $395.00, for a total transaction of $1,777,500.00. Following the transaction, the chief operating officer now owns 75,435 shares in the company, valued at approximately $29,796,825. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Meta Platforms news, COO Javier Olivan sold 4,500 shares of the business’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $395.00, for a total value of $1,777,500.00. Following the sale, the chief operating officer now owns 75,435 shares in the company, valued at approximately $29,796,825. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 552 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $464.00, for a total transaction of $256,128.00. Following the completion of the sale, the insider now owns 34,168 shares in the company, valued at $15,853,952. The disclosure for this sale can be found here. Insiders have sold 1,391,935 shares of company stock worth $666,288,408 in the last 90 days. 14.03% of the stock is currently owned by insiders.

Meta Platforms Stock Performance

NASDAQ:META traded up $14.37 during trading hours on Tuesday, reaching $496.10. The company had a trading volume of 14,985,989 shares, compared to its average volume of 17,131,002. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 52 week low of $207.13 and a 52 week high of $531.49. The firm has a market cap of $1.26 trillion, a price-to-earnings ratio of 33.10, a PEG ratio of 1.22 and a beta of 1.20. The firm’s 50 day moving average price is $494.81 and its 200-day moving average price is $401.23.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Thursday, February 1st. The social networking company reported $5.33 earnings per share for the quarter, topping the consensus estimate of $4.82 by $0.51. The business had revenue of $40.11 billion for the quarter, compared to analysts’ expectations of $39.12 billion. Meta Platforms had a net margin of 28.98% and a return on equity of 29.48%. The company’s revenue was up 24.7% compared to the same quarter last year. During the same quarter last year, the company posted $3.00 EPS. On average, analysts forecast that Meta Platforms, Inc. will post 20.18 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Wednesday, February 21st. Meta Platforms’s dividend payout ratio is presently 13.42%.

Meta Platforms Company 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.