Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Geller Advisors LLC

Geller Advisors LLC lifted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 1.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,732 shares of the social networking company’s stock after purchasing an additional 101 shares during the quarter. Meta Platforms comprises about 0.3% of Geller Advisors LLC’s portfolio, making the stock its 21st biggest position. Geller Advisors LLC’s holdings in Meta Platforms were worth $4,426,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Lindenwold Advisors INC lifted its position in Meta Platforms by 0.3% in the third quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock valued at $3,388,000 after acquiring an additional 17 shares during the last quarter. Central Valley Advisors LLC increased its position in shares of Meta Platforms by 0.3% during the third quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock worth $3,271,000 after purchasing an additional 18 shares in the last quarter. Cherrydale Wealth Management LLC increased its position in shares of Meta Platforms by 0.5% during the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after purchasing an additional 18 shares in the last quarter. Alliance Wealth Advisors LLC lifted its holdings in shares of Meta Platforms by 0.7% in the 3rd quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock valued at $1,595,000 after purchasing an additional 18 shares during the last quarter. Finally, Kozak & Associates Inc. boosted its position in shares of Meta Platforms by 1.0% in the 3rd quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock valued at $1,099,000 after purchasing an additional 18 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Aaron Anderson sold 731 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $557.00, for a total transaction of $407,167.00. Following the completion of the sale, the chief accounting officer now owns 3,414 shares in the company, valued at approximately $1,901,598. The trade was a 17.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 35,921 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $607.97, for a total transaction of $21,838,890.37. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 142,160 shares of company stock worth $81,611,223. 13.71% of the stock is owned by company insiders.

Meta Platforms Price Performance

NASDAQ:META opened at $623.77 on Monday. The firm has a market cap of $1.57 trillion, a price-to-earnings ratio of 29.38, a price-to-earnings-growth ratio of 1.37 and a beta of 1.20. Meta Platforms, Inc. has a 12-month low of $317.77 and a 12-month high of $629.79. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The company’s 50-day moving average is $579.64 and its two-hundred day moving average is $533.06.

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, topping analysts’ consensus estimates of $5.19 by $0.84. The firm had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Research analysts expect that Meta Platforms, Inc. will post 22.68 EPS for the current 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 paid a $0.50 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.00 annualized dividend and a yield of 0.32%. Meta Platforms’s payout ratio is currently 9.42%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on META shares. Monness Crespi & Hardt boosted their price objective on Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Robert W. Baird upped their price target on shares of Meta Platforms from $605.00 to $630.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Roth Mkm raised their price objective on shares of Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Guggenheim upped their target price on shares of Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a report on Monday, October 7th. Finally, Piper Sandler raised their price target on Meta Platforms from $575.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.