Gilman Hill Asset Management LLC Sells 373 Shares of Meta Platforms, Inc. (NASDAQ:META)

Gilman Hill Asset Management LLC decreased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,237 shares of the social networking company’s stock after selling 373 shares during the period. Gilman Hill Asset Management LLC’s holdings in Meta Platforms were worth $5,408,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. JDM Financial Group LLC bought a new position in shares of Meta Platforms in the third quarter worth about $30,000. Safe Harbor Fiduciary LLC purchased a new stake in Meta Platforms in the third quarter worth about $36,000. Avondale Wealth Management purchased a new stake in Meta Platforms in the fourth quarter worth about $41,000. Halpern Financial Inc. purchased a new stake in Meta Platforms in the third quarter worth about $46,000. Finally, West Financial Advisors LLC purchased a new stake in Meta Platforms in the third quarter worth about $49,000. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $616.46 on Wednesday. The stock has a market capitalization of $1.56 trillion, a price-to-earnings ratio of 29.04, a PEG ratio of 1.16 and a beta of 1.19. Meta Platforms, Inc. has a 12 month low of $381.16 and a 12 month high of $638.40. The firm’s 50 day simple moving average is $598.00 and its 200-day simple moving average is $558.31. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The firm had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Analysts expect that Meta Platforms, Inc. will post 22.96 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.32%. Meta Platforms’s dividend payout ratio (DPR) is 9.42%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on META shares. Bank of America upped their price objective on shares of Meta Platforms from $630.00 to $660.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Wolfe Research upped their price objective on shares of Meta Platforms from $670.00 to $730.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Raymond James upped their price objective on shares of Meta Platforms from $675.00 to $725.00 and gave the stock a “strong-buy” rating in a research note on Tuesday. TD Cowen upped their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Finally, The Goldman Sachs Group increased their price target on shares of Meta Platforms from $555.00 to $636.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, four have assigned 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 MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and an average target price of $651.27.

Insider Activity

In other Meta Platforms news, insider Nicholas Clegg sold 7,296 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $553.48, for a total value of $4,038,190.08. Following the transaction, the insider now owns 38,695 shares in the company, valued at approximately $21,416,908.60. This trade represents a 15.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Susan J. Li sold 8,951 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $577.16, for a total value of $5,166,159.16. Following the completion of the transaction, the chief financial officer now owns 51,591 shares in the company, valued at $29,776,261.56. The trade was a 14.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 531,190 shares of company stock worth $322,938,501 in the last quarter. Corporate insiders own 13.71% of the company’s stock.

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.