GFG Capital LLC Has $14.91 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

GFG Capital LLC decreased its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 26,043 shares of the social networking company’s stock after selling 783 shares during the quarter. Meta Platforms comprises approximately 3.9% of GFG Capital LLC’s investment portfolio, making the stock its 5th largest holding. GFG Capital LLC’s holdings in Meta Platforms were worth $14,908,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Delos Wealth Advisors LLC increased its stake in Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after purchasing an additional 58 shares in the last quarter. POM Investment Strategies LLC bought a new stake in Meta Platforms in the 2nd quarter valued at about $38,000. Ruedi Wealth Management Inc. increased its position in Meta Platforms by 122.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after buying an additional 44 shares in the last quarter. Richardson Financial Services Inc. raised its stake in Meta Platforms by 95.6% during the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after buying an additional 43 shares during the period. Finally, Kathleen S. Wright Associates Inc. bought a new position in Meta Platforms in the first quarter worth approximately $44,000. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

Meta Platforms stock opened at $563.69 on Thursday. The firm has a market capitalization of $1.43 trillion, a P/E ratio of 32.38, a PEG ratio of 1.45 and a beta of 1.22. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $602.95. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. The business has a fifty day moving average price of $548.79 and a 200-day moving average price of $509.61.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. During the same quarter last year, the company earned $3.23 EPS. The firm’s revenue was up 22.1% compared to the same quarter last year. As a group, equities research analysts forecast that Meta Platforms, Inc. will post 21.37 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Wall Street Analyst Weigh In

META has been the topic of a number of research reports. Stifel Nicolaus upped their target price on Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Royal Bank of Canada restated an “outperform” rating and set a $570.00 price objective on shares of Meta Platforms in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a report on Thursday, August 1st. TD Securities upped their target price on shares of Meta Platforms from $530.00 to $600.00 in a report on Wednesday, July 10th. Finally, Rosenblatt Securities lifted their price target on Meta Platforms from $643.00 to $811.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $619.20.

Insiders Place Their Bets

In other news, COO Javier Olivan sold 413 shares of the company’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $580.65, for a total value of $239,808.45. Following the transaction, the chief operating officer now owns 11,120 shares of the company’s stock, valued at approximately $6,456,828. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Mark Zuckerberg sold 150 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.49, for a total transaction of $75,073.50. Following the completion of the transaction, the chief executive officer now owns 124,387 shares of the company’s stock, valued at approximately $62,254,449.63. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $580.65, for a total transaction of $239,808.45. Following the completion of the sale, the chief operating officer now directly owns 11,120 shares in the company, valued at $6,456,828. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 249,912 shares of company stock worth $132,027,612 in the last three months. 13.71% of the stock is currently owned by corporate insiders.

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.