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

Sendero Wealth Management LLC raised its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,117 shares of the social networking company’s stock after acquiring an additional 499 shares during the quarter. Meta Platforms makes up 1.8% of Sendero Wealth Management LLC’s portfolio, making the stock its 12th biggest position. Sendero Wealth Management LLC’s holdings in Meta Platforms were worth $12,364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the stock. Lindenwold Advisors INC raised its stake in shares of Meta Platforms by 0.3% in the 3rd 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 in the last quarter. Insight Wealth Strategies LLC raised its position in shares of Meta Platforms by 1.6% in the fourth quarter. Insight Wealth Strategies LLC now owns 1,067 shares of the social networking company’s stock valued at $625,000 after purchasing an additional 17 shares during the period. Central Valley Advisors LLC lifted its stake in shares of Meta Platforms by 0.3% in the third quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock worth $3,271,000 after buying an additional 18 shares during the last quarter. Cherrydale Wealth Management LLC boosted its holdings in shares of Meta Platforms by 0.5% during the 3rd quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after buying an additional 18 shares during the period. Finally, Alliance Wealth Advisors LLC grew its stake in 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 buying an additional 18 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

META stock opened at $611.30 on Friday. The company has a 50 day moving average price of $595.92 and a 200 day moving average price of $555.25. Meta Platforms, Inc. has a fifty-two week low of $358.61 and a fifty-two week high of $638.40. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The stock has a market capitalization of $1.54 trillion, a PE ratio of 28.79, a price-to-earnings-growth ratio of 1.22 and a beta of 1.19.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $0.84. The business 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%. Analysts forecast that Meta Platforms, Inc. will post 22.68 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.33%. The ex-dividend date was Monday, December 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Analyst Ratings Changes

META has been the subject of a number of recent analyst reports. JMP Securities upped their price target on shares of Meta Platforms from $660.00 to $750.00 and gave the company a “market outperform” rating in a report on Thursday, January 2nd. Stifel Nicolaus raised their target price on Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a report on Monday, October 14th. TD Cowen upped their price target on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Bank of America raised their price objective on shares of Meta Platforms from $630.00 to $660.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Citigroup increased their price target on shares of Meta Platforms from $645.00 to $705.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $650.05.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CAO Aaron Anderson sold 731 shares of Meta Platforms stock in a transaction on Monday, November 18th. The shares were 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 of the company’s stock, valued at approximately $1,901,598. The trade was a 17.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $574.70, for a total value of $520,103.50. Following the completion of the transaction, the insider now directly owns 32,387 shares in the company, valued at approximately $18,612,808.90. This trade represents a 2.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 496,174 shares of company stock worth $301,408,499 in the last quarter. 13.71% of the stock is owned by company insiders.

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.