Goldstream Capital Management Ltd Increases Stake in Meta Platforms, Inc. (NASDAQ:META)

Goldstream Capital Management Ltd lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 8.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,648 shares of the social networking company’s stock after acquiring an additional 3,370 shares during the period. Meta Platforms makes up about 8.0% of Goldstream Capital Management Ltd’s investment portfolio, making the stock its 5th largest holding. Goldstream Capital Management Ltd’s holdings in Meta Platforms were worth $23,841,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in META. International Assets Investment Management LLC boosted its holdings in Meta Platforms by 57,001.5% during the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after purchasing an additional 9,500,444 shares during the last quarter. Integrated Investment Consultants LLC boosted its stake in shares of Meta Platforms by 61,769.3% during the 3rd quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock worth $2,365,820,000 after buying an additional 4,126,190 shares during the last quarter. Sustainable Growth Advisers LP acquired a new position in shares of Meta Platforms during the 2nd quarter worth about $595,152,000. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Meta Platforms by 926.6% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 733,358 shares of the social networking company’s stock valued at $369,774,000 after acquiring an additional 661,923 shares in the last quarter. Finally, Strategic Financial Concepts LLC increased its position in shares of Meta Platforms by 56,892.0% in the second quarter. Strategic Financial Concepts LLC now owns 564,221 shares of the social networking company’s stock valued at $2,845,000 after acquiring an additional 563,231 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, COO Javier Olivan sold 413 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $520.57, for a total transaction of $214,995.41. Following the transaction, the chief operating officer now owns 13,185 shares in the company, valued at $6,863,715.45. The trade was a 3.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 84 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $600.00, for a total transaction of $50,400.00. Following the transaction, the chief executive officer now directly owns 518,424 shares in the company, valued at $311,054,400. This trade represents a 0.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 142,160 shares of company stock valued at $81,611,223 over the last 90 days. 13.71% of the stock is owned by insiders.

Meta Platforms Stock Up 2.4 %

Shares of META opened at $623.77 on Friday. Meta Platforms, Inc. has a one year low of $317.77 and a one year high of $629.79. The firm has a 50 day simple moving average of $578.51 and a two-hundred day simple moving average of $531.05. 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 company has a market cap of $1.57 trillion, a P/E ratio of 29.38, a P/E/G ratio of 1.35 and a beta of 1.20.

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

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 16th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.00 annualized dividend and a yield of 0.32%. Meta Platforms’s dividend payout ratio is presently 9.42%.

Analyst Ratings Changes

A number of research analysts have weighed in on META shares. Sanford C. Bernstein raised their price target on Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Robert W. Baird boosted their target price on shares of Meta Platforms from $605.00 to $630.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Raymond James reiterated a “strong-buy” rating and issued a $675.00 price target on shares of Meta Platforms in a research note on Monday, November 25th. Tigress Financial boosted their price objective on shares of Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 16th. Finally, JMP Securities lifted their price target on Meta Platforms from $635.00 to $660.00 and gave the stock a “market outperform” rating in a report on Thursday, October 31st. Two 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 issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $634.71.

Meta Platforms 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.