GG Group Ventures LLC Grows Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

GG Group Ventures LLC raised its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 4.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 834 shares of the social networking company’s stock after buying an additional 32 shares during the period. GG Group Ventures LLC’s holdings in Meta Platforms were worth $481,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of META. JDM Financial Group LLC purchased a new position in shares of Meta Platforms in the 3rd quarter valued at approximately $30,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Meta Platforms in the 3rd quarter valued at approximately $36,000. POM Investment Strategies LLC purchased a new position in shares of Meta Platforms in the 2nd quarter valued at approximately $38,000. Ruedi Wealth Management Inc. raised its position in shares of 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 purchasing an additional 44 shares during the last quarter. Finally, Halpern Financial Inc. purchased a new position in shares of Meta Platforms in the 3rd quarter valued at approximately $46,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on META. Tigress Financial increased their price objective on shares of Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research report on Friday, August 16th. Robert W. Baird raised their price target on shares of Meta Platforms from $605.00 to $630.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Citigroup raised their price target on shares of Meta Platforms from $645.00 to $705.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Monness Crespi & Hardt raised their price target on shares of Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, UBS Group raised their price target on shares of Meta Platforms from $690.00 to $719.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $634.71.

Insider Transactions at Meta Platforms

In related news, COO Javier Olivan sold 413 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $520.57, for a total value of $214,995.41. Following the sale, the chief operating officer now directly owns 13,185 shares in the company, valued at approximately $6,863,715.45. The trade was a 3.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark Zuckerberg sold 22,946 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $621.84, for a total transaction of $14,268,740.64. The disclosure for this sale can be found here. Insiders have sold a total of 164,201 shares of company stock worth $95,420,559 in the last quarter. Company insiders own 13.71% of the company’s stock.

Meta Platforms Trading Down 1.6 %

Shares of META stock opened at $613.57 on Tuesday. The stock’s fifty day moving average is $580.47 and its two-hundred day moving average is $534.10. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The firm has a market capitalization of $1.55 trillion, a P/E ratio of 28.90, a PEG ratio of 1.37 and a beta of 1.20. Meta Platforms, Inc. has a fifty-two week low of $319.99 and a fifty-two week high of $629.79.

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

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 16th will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, December 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.33%. Meta Platforms’s dividend payout ratio is presently 9.42%.

Meta Platforms Company 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.