GAMMA Investing LLC Has $20.41 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

GAMMA Investing LLC raised its position in Meta Platforms, Inc. (NASDAQ:META) by 12.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,862 shares of the social networking company’s stock after acquiring an additional 3,960 shares during the period. Meta Platforms makes up approximately 1.7% of GAMMA Investing LLC’s holdings, making the stock its 7th biggest holding. GAMMA Investing LLC’s holdings in Meta Platforms were worth $20,412,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. SeaBridge Investment Advisors LLC raised its position in shares of Meta Platforms by 10.7% in the 2nd quarter. SeaBridge Investment Advisors LLC now owns 9,658 shares of the social networking company’s stock valued at $4,870,000 after purchasing an additional 935 shares during the last quarter. Valmark Advisers Inc. lifted its stake in shares of Meta Platforms by 5.3% during the second quarter. Valmark Advisers Inc. now owns 7,480 shares of the social networking company’s stock worth $3,771,000 after buying an additional 378 shares during the period. Massachusetts Wealth Management lifted its stake in shares of Meta Platforms by 6.3% during the second quarter. Massachusetts Wealth Management now owns 846 shares of the social networking company’s stock worth $427,000 after buying an additional 50 shares during the period. JPL Wealth Management LLC increased its position in shares of Meta Platforms by 101.2% in the 2nd quarter. JPL Wealth Management LLC now owns 1,199 shares of the social networking company’s stock valued at $605,000 after acquiring an additional 603 shares during the period. Finally, Drive Wealth Management LLC raised its stake in Meta Platforms by 9.5% in the 2nd quarter. Drive Wealth Management LLC now owns 6,910 shares of the social networking company’s stock worth $3,484,000 after acquiring an additional 599 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $589.89, for a total value of $533,850.45. Following the sale, the insider now directly owns 34,197 shares in the company, valued at approximately $20,172,468.33. This trade represents a 2.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 35,921 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $607.97, for a total value of $21,838,890.37. The disclosure for this sale can be found here. In the last quarter, insiders sold 327,116 shares of company stock valued at $198,171,544. Company insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. KeyCorp boosted their price target on Meta Platforms from $560.00 to $655.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Monness Crespi & Hardt increased their price target on shares of Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Jefferies Financial Group lifted their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $670.00 price objective on shares of Meta Platforms in a research note on Wednesday, October 16th. Finally, Roth Mkm boosted their target price on shares of Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $640.20.

Meta Platforms Stock Performance

Meta Platforms stock opened at $599.24 on Friday. The stock has a market cap of $1.51 trillion, a price-to-earnings ratio of 28.23, a price-to-earnings-growth ratio of 1.39 and a beta of 1.20. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The firm has a 50 day simple moving average of $589.25 and a 200-day simple moving average of $548.19. Meta Platforms, Inc. has a 1-year low of $343.17 and a 1-year high of $638.40.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.19 by $0.84. The company had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. On average, analysts expect that Meta Platforms, Inc. will post 22.68 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were issued a $0.50 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.33%. Meta Platforms’s dividend payout ratio is currently 9.42%.

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.