Meta Platforms, Inc. (NASDAQ:META) Position Increased by Callan Family Office LLC

Callan Family Office LLC raised its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 75.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,692 shares of the social networking company’s stock after acquiring an additional 729 shares during the period. Callan Family Office LLC’s holdings in Meta Platforms were worth $969,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of META. Delos Wealth Advisors LLC grew its stake in Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after purchasing an additional 58 shares in the last quarter. POM Investment Strategies LLC bought a new position in shares of Meta Platforms in the 2nd quarter valued at approximately $38,000. Ruedi Wealth Management Inc. grew its holdings in Meta Platforms by 122.2% during the second 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. Halpern Financial Inc. acquired a new stake in shares of Meta Platforms in the third quarter worth $46,000. Finally, Richardson Financial Services Inc. boosted its holdings in shares of Meta Platforms by 95.6% during the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after buying an additional 43 shares during the period. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Down 1.9 %

META opened at $584.78 on Tuesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. Meta Platforms, Inc. has a twelve month low of $279.40 and a twelve month high of $602.95. The firm’s fifty day moving average is $529.45 and its two-hundred day moving average is $503.17. The firm has a market cap of $1.48 trillion, a PE ratio of 33.59, a price-to-earnings-growth ratio of 1.39 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.46. The business had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. Meta Platforms’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.23 EPS. Equities research analysts anticipate that Meta Platforms, Inc. will post 21.36 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Insider Buying and Selling at Meta Platforms

In related news, CFO Susan J. Li sold 8,950 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the completion of the transaction, the chief financial officer now directly owns 74,579 shares in the company, valued at approximately $39,285,234.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Susan J. Li sold 8,950 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the completion of the transaction, the chief financial officer now directly owns 74,579 shares in the company, valued at $39,285,234.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $2,663,825.32. Following the completion of the sale, the chief technology officer now directly owns 11,990 shares of the company’s stock, valued at approximately $6,315,852.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 282,621 shares of company stock valued at $148,657,449 in the last 90 days. 13.71% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on META. Cantor Fitzgerald reissued an “overweight” rating and set a $660.00 target price on shares of Meta Platforms in a research report on Monday. Stifel Nicolaus increased their price target on shares of Meta Platforms from $550.00 to $590.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Susquehanna lifted their target price on Meta Platforms from $550.00 to $600.00 and gave the stock a “positive” rating in a research report on Thursday, August 1st. TD Securities lifted their price objective on Meta Platforms from $530.00 to $600.00 in a report on Wednesday, July 10th. Finally, UBS Group raised their target price on Meta Platforms from $635.00 to $690.00 and gave the stock a “buy” rating in a research report on Monday. Two research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and an average target price of $601.08.

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.