Geller Advisors LLC Raises Position in Meta Platforms, Inc. (NASDAQ:META)

Geller Advisors LLC grew its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.3% during the third quarter, according to its most recent filing with the SEC. The firm owned 7,732 shares of the social networking company’s stock after acquiring an additional 101 shares during the period. Meta Platforms comprises about 0.3% of Geller Advisors LLC’s holdings, making the stock its 21st largest holding. Geller Advisors LLC’s holdings in Meta Platforms were worth $4,426,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in META. Drucker Wealth 3.0 LLC grew its holdings in Meta Platforms by 2.1% in the third quarter. Drucker Wealth 3.0 LLC now owns 9,023 shares of the social networking company’s stock worth $5,165,000 after purchasing an additional 183 shares during the period. Hamilton Capital LLC boosted its position in shares of Meta Platforms by 3.1% in the 3rd quarter. Hamilton Capital LLC now owns 1,510 shares of the social networking company’s stock worth $857,000 after purchasing an additional 45 shares in the last quarter. SGL Investment Advisors Inc. purchased a new stake in shares of Meta Platforms in the 3rd quarter worth approximately $3,728,000. EWA LLC grew its stake in shares of Meta Platforms by 13.6% in the third quarter. EWA LLC now owns 4,891 shares of the social networking company’s stock worth $2,823,000 after acquiring an additional 584 shares during the last quarter. Finally, Cape Cod Five Cents Savings Bank raised its position in shares of Meta Platforms by 26.2% in the 3rd quarter. Cape Cod Five Cents Savings Bank now owns 7,713 shares of the social networking company’s stock worth $4,415,000 after purchasing an additional 1,599 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

Shares of META stock opened at $623.77 on Monday. The company’s 50-day simple moving average is $579.64 and its two-hundred day simple moving average is $533.06. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. Meta Platforms, Inc. has a one year low of $317.77 and a one year high of $629.79. The company has a market capitalization of $1.57 trillion, a P/E ratio of 29.38, a P/E/G ratio of 1.37 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 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $40.21 billion. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 22.68 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently disclosed 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. This represents a $2.00 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date is Monday, December 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $507.63, for a total transaction of $459,405.15. Following the completion of the sale, the insider now owns 37,817 shares in the company, valued at $19,197,043.71. This represents a 2.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction on Friday, September 13th. The shares were sold at an average price of $520.57, for a total value of $214,995.41. Following the completion of the transaction, the chief operating officer now owns 13,185 shares in the company, valued at $6,863,715.45. This represents a 3.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 142,160 shares of company stock worth $81,611,223 in the last three months. Corporate insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on META shares. Wedbush restated an “outperform” rating and set a $600.00 price objective on shares of Meta Platforms in a research note on Thursday, September 26th. Scotiabank lowered their price objective on Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 31st. Monness Crespi & Hardt lifted their target price on Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Wells Fargo & Company dropped their price objective on Meta Platforms from $652.00 to $641.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. Finally, Hsbc Global Res upgraded Meta Platforms to a “hold” rating in a report on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $634.71.

About Meta Platforms

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.