GAMMA Investing LLC Has $35.42 Million Stake in Meta Platforms, Inc. $META

GAMMA Investing LLC raised its position in Meta Platforms, Inc. (NASDAQ:META) by 8.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 48,232 shares of the social networking company’s stock after purchasing an additional 3,741 shares during the quarter. Meta Platforms accounts for 2.0% of GAMMA Investing LLC’s investment portfolio, making the stock its 6th largest holding. GAMMA Investing LLC’s holdings in Meta Platforms were worth $35,421,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of META. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its holdings in Meta Platforms by 0.4% during the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 3,506 shares of the social networking company’s stock valued at $2,587,000 after purchasing an additional 13 shares in the last quarter. Pachira Investments Inc. grew its holdings in shares of Meta Platforms by 3.0% during the second quarter. Pachira Investments Inc. now owns 488 shares of the social networking company’s stock worth $360,000 after purchasing an additional 14 shares during the last quarter. Hemington Wealth Management grew its holdings in shares of Meta Platforms by 0.6% during the second quarter. Hemington Wealth Management now owns 2,223 shares of the social networking company’s stock worth $1,641,000 after purchasing an additional 14 shares during the last quarter. Trust Co of the South increased its stake in shares of Meta Platforms by 0.8% in the third quarter. Trust Co of the South now owns 1,850 shares of the social networking company’s stock valued at $1,359,000 after buying an additional 14 shares in the last quarter. Finally, Vista Capital Partners Inc. raised its holdings in shares of Meta Platforms by 1.3% in the second quarter. Vista Capital Partners Inc. now owns 1,075 shares of the social networking company’s stock valued at $794,000 after buying an additional 14 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Performance

META stock opened at $657.15 on Wednesday. Meta Platforms, Inc. has a twelve month low of $479.80 and a twelve month high of $796.25. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.66 trillion, a P/E ratio of 29.03, a price-to-earnings-growth ratio of 1.36 and a beta of 1.28. The business’s fifty day moving average is $663.44 and its 200-day moving average is $707.81.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, October 29th. The social networking company reported $7.25 EPS for the quarter, topping analysts’ consensus estimates of $6.74 by $0.51. Meta Platforms had a return on equity of 39.35% and a net margin of 30.89%.The business had revenue of $51.24 billion during the quarter, compared to analysts’ expectations of $49.34 billion. During the same period in the previous year, the firm earned $6.03 earnings per share. The firm’s quarterly revenue was up 26.2% compared to the same quarter last year. Equities research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently declared 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 of this dividend 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 9.28%.

Insider Activity

In related news, CAO Aaron Anderson sold 726 shares of Meta Platforms stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $591.60, for a total transaction of $429,501.60. Following the transaction, the chief accounting officer owned 6,035 shares of the company’s stock, valued at $3,570,306. This trade represents a 10.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Andrew Bosworth sold 11,690 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $593.31, for a total transaction of $6,935,793.90. Following the transaction, the chief technology officer owned 2,415 shares of the company’s stock, valued at approximately $1,432,843.65. This represents a 82.88% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 40,458 shares of company stock valued at $25,436,200. Insiders own 13.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on META shares. Arete Research set a $718.00 price objective on shares of Meta Platforms in a report on Thursday, December 4th. Weiss Ratings reissued a “buy (b)” rating on shares of Meta Platforms in a report on Monday. Oppenheimer cut shares of Meta Platforms from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 30th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $870.00 price objective (down from $900.00) on shares of Meta Platforms in a research report on Thursday, October 30th. Finally, Mizuho lowered their target price on Meta Platforms from $925.00 to $815.00 and set an “outperform” rating for the company in a research note on Thursday, October 30th. Four research analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and an average price target of $819.46.

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.