Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Enclave Advisors LLC

Enclave Advisors LLC boosted its position in Meta Platforms, Inc. (NASDAQ:META) by 29.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,358 shares of the social networking company’s stock after purchasing an additional 755 shares during the quarter. Enclave Advisors LLC’s holdings in Meta Platforms were worth $1,966,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in shares of Meta Platforms by 1.5% in the third quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock worth $27,470,870,000 after buying an additional 698,884 shares in the last quarter. Jennison Associates LLC lifted its stake in Meta Platforms by 1.9% in the 3rd quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock worth $8,266,531,000 after purchasing an additional 263,063 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Meta Platforms by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock worth $7,915,451,000 after purchasing an additional 118,298 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Meta Platforms by 57,001.5% in the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock valued at $5,447,975,000 after purchasing an additional 9,500,444 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Meta Platforms by 2.8% in the third quarter. Franklin Resources Inc. now owns 6,946,755 shares of the social networking company’s stock valued at $4,101,602,000 after purchasing an additional 186,728 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on META. Hsbc Global Res raised Meta Platforms to a “hold” rating in a research note on Thursday, October 24th. The Goldman Sachs Group raised their price objective on shares of Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Monness Crespi & Hardt boosted their target price on shares of Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Jefferies Financial Group raised their price target on shares of Meta Platforms from $675.00 to $715.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Piper Sandler upped their price objective on Meta Platforms from $650.00 to $670.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Two investment 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, the company has a consensus rating of “Moderate Buy” and an average target price of $654.20.

Meta Platforms Price Performance

META stock opened at $636.45 on Friday. The stock has a market cap of $1.61 trillion, a price-to-earnings ratio of 29.98, a PEG ratio of 1.16 and a beta of 1.19. Meta Platforms, Inc. has a fifty-two week low of $385.66 and a fifty-two week high of $638.40. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The business has a 50 day moving average price of $600.06 and a 200 day moving average price of $559.30.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.19 by $0.84. The company had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. Equities research analysts anticipate that Meta Platforms, Inc. will post 22.96 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.31%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s payout ratio is currently 9.42%.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 8,951 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $577.16, for a total transaction of $5,166,159.16. Following the completion of the sale, the chief financial officer now directly owns 51,591 shares of the company’s stock, valued at $29,776,261.56. This represents a 14.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicholas Clegg sold 7,296 shares of Meta Platforms stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $553.48, for a total value of $4,038,190.08. Following the completion of the transaction, the insider now owns 38,695 shares in the company, valued at $21,416,908.60. This trade represents a 15.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 568,016 shares of company stock worth $346,031,180. Insiders own 13.71% of the company’s stock.

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.