GM Advisory Group LLC Has $14.34 Million Holdings in Meta Platforms, Inc. $META

GM Advisory Group LLC boosted its stake in Meta Platforms, Inc. (NASDAQ:META) by 26.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,426 shares of the social networking company’s stock after purchasing an additional 4,119 shares during the quarter. GM Advisory Group LLC’s holdings in Meta Platforms were worth $14,338,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Meta Platforms by 0.8% in the second quarter. Vanguard Group Inc. now owns 192,591,101 shares of the social networking company’s stock valued at $142,149,566,000 after purchasing an additional 1,532,568 shares in the last quarter. Kingstone Capital Partners Texas LLC boosted its position in shares of Meta Platforms by 608,429.2% during the second quarter. Kingstone Capital Partners Texas LLC now owns 59,775,823 shares of the social networking company’s stock worth $44,119,937,000 after purchasing an additional 59,766,000 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Meta Platforms by 1.3% in the 2nd quarter. Geode Capital Management LLC now owns 51,575,209 shares of the social networking company’s stock valued at $37,902,948,000 after buying an additional 682,768 shares during the period. Invesco Ltd. increased its position in shares of Meta Platforms by 2.3% in the 1st quarter. Invesco Ltd. now owns 17,669,795 shares of the social networking company’s stock valued at $10,184,163,000 after buying an additional 400,927 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake 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 buying an additional 1,255,546 shares during the period. Institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling

In other Meta Platforms news, COO Javier Olivan sold 517 shares of the stock in a transaction on Monday, December 1st. The shares were sold at an average price of $639.03, for a total value of $330,378.51. Following the completion of the sale, the chief operating officer owned 14,268 shares in the company, valued at $9,117,680.04. This trade represents a 3.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert M. Kimmitt sold 600 shares of Meta Platforms stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $609.35, for a total transaction of $365,610.00. Following the completion of the transaction, the director directly owned 7,347 shares of the company’s stock, valued at approximately $4,476,894.45. This trade represents a 7.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 41,959 shares of company stock worth $26,671,107 in the last quarter. 13.61% of the stock is owned by company insiders.

Meta Platforms Trading Up 1.8%

Shares of NASDAQ:META opened at $673.42 on Friday. The stock has a market capitalization of $1.70 trillion, a PE ratio of 29.74, a price-to-earnings-growth ratio of 1.39 and a beta of 1.28. The company’s 50-day moving average price is $673.16 and its two-hundred day moving average price is $706.04. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.98 and a quick ratio of 1.98. Meta Platforms, Inc. has a one year low of $479.80 and a one year high of $796.25.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, October 29th. The social networking company reported $7.25 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $49.34 billion. During the same quarter in the previous year, the business earned $6.03 earnings per share. Meta Platforms’s quarterly revenue was up 26.2% on a year-over-year basis. On average, equities analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Monday, December 15th will be paid a dividend of $0.525 per share. The ex-dividend date 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 currently 9.28%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Citizens Jmp reissued an “outperform” rating and issued a $900.00 target price (up from $750.00) on shares of Meta Platforms in a research note on Monday, November 24th. Wells Fargo & Company decreased their price objective on Meta Platforms from $837.00 to $802.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Barclays lowered their target price on Meta Platforms from $810.00 to $770.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th. Raymond James Financial reiterated a “strong-buy” rating and issued a $825.00 price target (down previously from $900.00) on shares of Meta Platforms in a report on Thursday, October 30th. Finally, Citigroup restated a “buy” rating on shares of Meta Platforms in a report on Thursday. Five analysts have rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $819.43.

About Meta Platforms

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.