Columbus Hill Capital Management L.P. Has $55.63 Million Stake in Meta Platforms, Inc. $META

Columbus Hill Capital Management L.P. grew its position in Meta Platforms, Inc. (NASDAQ:META) by 10.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 75,376 shares of the social networking company’s stock after buying an additional 7,300 shares during the period. Meta Platforms accounts for about 8.0% of Columbus Hill Capital Management L.P.’s portfolio, making the stock its 3rd largest position. Columbus Hill Capital Management L.P.’s holdings in Meta Platforms were worth $55,634,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of META. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its holdings in Meta Platforms by 0.4% in the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 3,506 shares of the social networking company’s stock worth $2,587,000 after purchasing an additional 13 shares during the last quarter. Pachira Investments Inc. boosted its position in shares of Meta Platforms by 3.0% in the 2nd quarter. Pachira Investments Inc. now owns 488 shares of the social networking company’s stock worth $360,000 after purchasing an additional 14 shares in the last quarter. Hemington Wealth Management grew its stake in Meta Platforms by 0.6% during the 2nd quarter. Hemington Wealth Management now owns 2,223 shares of the social networking company’s stock worth $1,641,000 after buying an additional 14 shares during the last quarter. Myecfo LLC increased its position in Meta Platforms by 2.0% during the 2nd quarter. Myecfo LLC now owns 776 shares of the social networking company’s stock valued at $573,000 after buying an additional 15 shares in the last quarter. Finally, Shelton Wealth Management LLC raised its stake in Meta Platforms by 0.9% in the second quarter. Shelton Wealth Management LLC now owns 1,764 shares of the social networking company’s stock valued at $1,302,000 after buying an additional 15 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 517 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $639.03, for a total value of $330,378.51. Following the sale, the chief operating officer owned 14,268 shares in the company, valued at approximately $9,117,680.04. This represents a 3.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jennifer Newstead sold 519 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $642.22, for a total transaction of $333,312.18. Following the sale, the insider directly owned 30,734 shares in the company, valued at $19,737,989.48. The trade was a 1.66% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 41,959 shares of company stock valued at $26,671,107. 13.61% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Roth Capital reissued a “buy” rating on shares of Meta Platforms in a report on Thursday, October 30th. Canaccord Genuity Group reiterated a “buy” rating and issued a $900.00 target price on shares of Meta Platforms in a research note on Thursday, October 30th. KeyCorp dropped their target price on shares of Meta Platforms from $905.00 to $875.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Monness Crespi & Hardt cut their price target on shares of Meta Platforms from $860.00 to $808.00 and set a “buy” rating on the stock in a research note on Thursday, October 30th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Meta Platforms in a report on Tuesday, October 14th. Four research analysts have rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and an average target price of $819.43.

Meta Platforms Stock Performance

Shares of NASDAQ META opened at $661.53 on Friday. The company has a 50 day simple moving average of $674.56 and a two-hundred day simple moving average of $705.81. The stock has a market cap of $1.67 trillion, a price-to-earnings ratio of 29.22, a PEG ratio of 1.34 and a beta of 1.28. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.15. Meta Platforms, Inc. has a 12 month low of $479.80 and a 12 month high of $796.25.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, October 29th. The social networking company reported $7.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.74 by $0.51. The firm had revenue of $51.24 billion during the quarter, compared to analysts’ expectations of $49.34 billion. Meta Platforms had a net margin of 30.89% and a return on equity of 39.35%. The firm’s revenue was up 26.2% compared to the same quarter last year. During the same quarter last year, the company posted $6.03 earnings per share. As a group, analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Monday, December 15th will be paid a $0.525 dividend. The ex-dividend date is Monday, December 15th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. Meta Platforms’s dividend payout ratio is presently 9.28%.

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.