GAM Holding AG boosted its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 4.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 71,158 shares of the social networking company's stock after acquiring an additional 3,123 shares during the period. Meta Platforms accounts for approximately 3.2% of GAM Holding AG's portfolio, making the stock its 6th largest holding. GAM Holding AG's holdings in Meta Platforms were worth $41,013,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in META. Norges Bank purchased a new position in shares of Meta Platforms during the fourth quarter worth about $19,949,512,000. GAMMA Investing LLC grew its holdings in shares of Meta Platforms by 67,172.9% during the first quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company's stock worth $13,517,178,000 after purchasing an additional 23,417,803 shares in the last quarter. Proficio Capital Partners LLC grew its holdings in shares of Meta Platforms by 78,471.1% during the fourth quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company's stock worth $3,658,713,000 after purchasing an additional 6,240,810 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Meta Platforms during the fourth quarter worth about $2,243,603,000. Finally, Northern Trust Corp grew its holdings in shares of Meta Platforms by 13.5% during the fourth quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company's stock worth $13,727,613,000 after purchasing an additional 2,787,832 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.
Insider Activity
In other Meta Platforms news, CFO Susan J. Li sold 6,874 shares of the stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $659.36, for a total value of $4,532,440.64. Following the transaction, the chief financial officer now owns 70,040 shares of the company's stock, valued at approximately $46,181,574.40. This represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 921 shares of the stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $627.05, for a total value of $577,513.05. Following the completion of the transaction, the insider now directly owns 31,182 shares in the company, valued at approximately $19,552,673.10. This represents a 2.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 110,423 shares of company stock valued at $73,580,663 over the last ninety days. 13.61% of the stock is currently owned by corporate insiders.
Meta Platforms Trading Down 1.9%
Shares of NASDAQ:META opened at $682.35 on Monday. The company has a market cap of $1.72 trillion, a P/E ratio of 26.61, a PEG ratio of 1.68 and a beta of 1.26. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $740.91. The stock's fifty day moving average price is $618.10 and its 200-day moving average price is $623.24.
Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.33 by $1.10. The firm had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The company's quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the company posted $4.71 earnings per share. Sell-side analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.
Meta Platforms Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date of this dividend is Monday, June 16th. Meta Platforms's payout ratio is currently 8.19%.
Wall Street Analyst Weigh In
META has been the subject of several recent analyst reports. TD Securities cut their price objective on Meta Platforms from $725.00 to $700.00 and set a "buy" rating for the company in a report on Thursday, May 1st. DA Davidson cut their price objective on Meta Platforms from $800.00 to $650.00 and set a "buy" rating for the company in a report on Monday, April 14th. Monness Crespi & Hardt boosted their price objective on Meta Platforms from $775.00 to $780.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Cantor Fitzgerald boosted their price objective on Meta Platforms from $676.00 to $807.00 and gave the stock an "overweight" rating in a report on Wednesday, June 18th. Finally, Needham & Company LLC reissued an "underperform" rating on shares of Meta Platforms in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $710.00.
Get Our Latest Research Report on META
About Meta Platforms
(
Free Report)
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.
Further Reading
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