Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Sendero Wealth Management LLC

Sendero Wealth Management LLC increased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 93.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,093 shares of the social networking company’s stock after acquiring an additional 6,824 shares during the quarter. Meta Platforms makes up 1.2% of Sendero Wealth Management LLC’s portfolio, making the stock its 20th biggest position. Sendero Wealth Management LLC’s holdings in Meta Platforms were worth $6,843,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of META. Stone House Investment Management LLC increased its holdings in Meta Platforms by 625.0% in the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after buying an additional 75 shares during the last quarter. Beaird Harris Wealth Management LLC increased its holdings in Meta Platforms by 68.9% in the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after buying an additional 42 shares during the last quarter. Quest Partners LLC bought a new stake in Meta Platforms in the fourth quarter valued at about $32,000. Clear Investment Research LLC increased its holdings in Meta Platforms by 411.1% in the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after buying an additional 74 shares during the last quarter. Finally, Cranbrook Wealth Management LLC increased its holdings in Meta Platforms by 80.4% in the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after buying an additional 45 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on META shares. Loop Capital decreased their price objective on Meta Platforms from $555.00 to $550.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Wolfe Research cut their target price on Meta Platforms from $530.00 to $500.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Canaccord Genuity Group cut their target price on Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Rosenblatt Securities upped their target price on Meta Platforms from $520.00 to $562.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Finally, Wedbush cut their target price on Meta Platforms from $570.00 to $480.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $510.05.

Insider Activity at Meta Platforms

In related news, CTO Andrew Bosworth sold 5,058 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total value of $2,386,617.30. Following the completion of the sale, the chief technology officer now owns 15,412 shares of the company’s stock, valued at $7,272,152.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Sheryl Sandberg sold 105,000 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $476.71, for a total value of $50,054,550.00. Following the sale, the director now directly owns 630,293 shares of the company’s stock, valued at approximately $300,466,976.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Andrew Bosworth sold 5,058 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total transaction of $2,386,617.30. Following the completion of the sale, the chief technology officer now directly owns 15,412 shares in the company, valued at $7,272,152.20. The disclosure for this sale can be found here. Insiders sold a total of 233,512 shares of company stock valued at $113,597,536 over the last quarter. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Shares of NASDAQ META traded down $15.34 during mid-day trading on Friday, hitting $504.22. 15,757,171 shares of the stock were exchanged, compared to its average volume of 16,444,535. The company has a market cap of $1.28 trillion, a P/E ratio of 29.47, a PEG ratio of 1.33 and a beta of 1.21. The stock’s fifty day simple moving average is $479.53 and its two-hundred day simple moving average is $452.69. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. Meta Platforms, Inc. has a twelve month low of $274.38 and a twelve month high of $531.49.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.32 by $0.39. The company had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. As a group, analysts forecast that Meta Platforms, Inc. will post 20.16 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s dividend payout ratio is currently 11.49%.

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.