Gibson Capital LLC lowered its holdings in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 43.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 365 shares of the social networking company’s stock after selling 285 shares during the quarter. Gibson Capital LLC’s holdings in Meta Platforms were worth $269,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC grew its stake in Meta Platforms by 608,429.2% in the second quarter. Kingstone Capital Partners Texas LLC now owns 59,775,823 shares of the social networking company’s stock valued at $44,119,937,000 after purchasing an additional 59,766,000 shares in the last quarter. Invesco Ltd. lifted its holdings in Meta Platforms by 2.3% during the 1st quarter. Invesco Ltd. now owns 17,669,795 shares of the social networking company’s stock worth $10,184,163,000 after purchasing an additional 400,927 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Meta Platforms by 8.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,575,962 shares of the social networking company’s stock worth $8,977,361,000 after purchasing an additional 1,255,546 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Meta Platforms by 4.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,543,468 shares of the social networking company’s stock valued at $7,229,553,000 after acquiring an additional 536,160 shares during the period. Finally, Wellington Management Group LLP raised its holdings in shares of Meta Platforms by 2.5% during the 1st quarter. Wellington Management Group LLP now owns 10,041,171 shares of the social networking company’s stock worth $5,787,329,000 after buying an additional 247,850 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.
Meta Platforms Price Performance
Shares of NASDAQ META opened at $733.27 on Wednesday. The stock has a fifty day simple moving average of $744.95 and a two-hundred day simple moving average of $686.70. Meta Platforms, Inc. has a 1-year low of $479.80 and a 1-year high of $796.25. The firm has a market cap of $1.84 trillion, a price-to-earnings ratio of 26.55, a price-to-earnings-growth ratio of 1.53 and a beta of 1.20. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.15.
Meta Platforms Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 22nd were given a dividend of $0.525 per share. The ex-dividend date was Monday, September 22nd. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. Meta Platforms’s dividend payout ratio (DPR) is presently 7.60%.
Insider Buying and Selling at Meta Platforms
In other news, COO Javier Olivan sold 517 shares of Meta Platforms stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $713.34, for a total value of $368,796.78. Following the transaction, the chief operating officer owned 8,992 shares in the company, valued at approximately $6,414,353.28. The trade was a 5.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert M. Kimmitt sold 465 shares of Meta Platforms stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $716.97, for a total value of $333,391.05. Following the completion of the transaction, the director owned 7,947 shares in the company, valued at approximately $5,697,760.59. This represents a 5.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 213,146 shares of company stock worth $164,196,453 over the last 90 days. Corporate insiders own 13.61% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on META shares. Barclays upped their target price on Meta Platforms from $640.00 to $810.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Robert W. Baird upped their price target on Meta Platforms from $635.00 to $740.00 and gave the company an “outperform” rating in a research report on Wednesday, July 2nd. Morgan Stanley upped their target price on Meta Platforms from $750.00 to $850.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Royal Bank Of Canada increased their price target on Meta Platforms from $740.00 to $840.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Finally, TD Cowen increased their price target on Meta Platforms from $800.00 to $875.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. Four investment analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and an average price target of $829.66.
Check Out Our Latest Report on Meta Platforms
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.
See Also
- Five stocks we like better than Meta Platforms
- Best Energy Stocks – Energy Stocks to Buy Now
- 2 Ways to Trade Qualcomm Ahead of November’s Earnings
- Canadian Penny Stocks: Can They Make You Rich?
- Lululemon: 2 Signs the Bottom Is In, and 1 Sign It Isn’t
- Market Cap Calculator: How to Calculate Market Cap
- Got 1K to Invest? These 3 Stocks Are Still Attractive Buys
Receive News & Ratings for Meta Platforms Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meta Platforms and related companies with MarketBeat.com's FREE daily email newsletter.