Gilman Hill Asset Management LLC Acquires 117 Shares of Meta Platforms, Inc. (NASDAQ:META)

Gilman Hill Asset Management LLC grew its position in Meta Platforms, Inc. (NASDAQ:META) by 1.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,610 shares of the social networking company’s stock after purchasing an additional 117 shares during the period. Gilman Hill Asset Management LLC’s holdings in Meta Platforms were worth $5,501,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of META. Capital Research Global Investors boosted its stake in shares of Meta Platforms by 14.5% during the 1st quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock worth $16,799,612,000 after acquiring an additional 4,379,826 shares during the period. Vanguard Group Inc. raised its position in Meta Platforms by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock valued at $65,960,215,000 after purchasing an additional 3,104,550 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Meta Platforms by 24.7% in the first quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock worth $6,733,731,000 after acquiring an additional 2,748,620 shares during the last quarter. Sustainable Growth Advisers LP bought a new stake in shares of Meta Platforms during the 2nd quarter valued at approximately $595,152,000. Finally, Global Assets Advisory LLC bought a new position in Meta Platforms in the first quarter valued at about $515,383,000. Institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

META has been the topic of several recent analyst reports. Citigroup boosted their target price on shares of Meta Platforms from $580.00 to $645.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Guggenheim raised their price objective on shares of Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Susquehanna upped their price target on Meta Platforms from $550.00 to $600.00 and gave the stock a “positive” rating in a report on Thursday, August 1st. BMO Capital Markets increased their price objective on shares of Meta Platforms from $475.00 to $525.00 and gave the company a “market perform” rating in a research note on Wednesday. Finally, The Goldman Sachs Group lifted their target price on Meta Platforms from $522.00 to $555.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $609.71.

Insider Activity

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $501.42, for a total transaction of $453,785.10. Following the sale, the insider now directly owns 36,035 shares of the company’s stock, valued at approximately $18,068,669.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Meta Platforms news, CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $2,663,825.32. Following the completion of the sale, the chief technology officer now owns 11,990 shares in the company, valued at approximately $6,315,852.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $501.42, for a total value of $453,785.10. Following the transaction, the insider now owns 36,035 shares in the company, valued at approximately $18,068,669.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 252,443 shares of company stock worth $133,105,284 over the last 90 days. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Stock Up 1.0 %

NASDAQ:META traded up $6.12 during mid-day trading on Friday, reaching $589.95. The company’s stock had a trading volume of 8,587,051 shares, compared to its average volume of 15,361,877. The stock has a fifty day moving average of $538.12 and a 200-day moving average of $505.59. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $1.50 trillion, a PE ratio of 33.89, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. Meta Platforms, Inc. has a 1 year low of $279.40 and a 1 year high of $602.95.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. During the same period in the previous year, the company earned $3.23 earnings per share. The business’s revenue for the quarter was up 22.1% on a year-over-year basis. Equities research analysts forecast that Meta Platforms, Inc. will post 21.37 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. Meta Platforms’s payout ratio is 11.49%.

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.