Callan Capital LLC Purchases 398 Shares of Meta Platforms, Inc. (NASDAQ:META)

Callan Capital LLC raised its stake in Meta Platforms, Inc. (NASDAQ:META) by 9.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,834 shares of the social networking company’s stock after acquiring an additional 398 shares during the quarter. Callan Capital LLC’s holdings in Meta Platforms were worth $2,437,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of META. Quest Partners LLC purchased a new position in shares of Meta Platforms during the 4th quarter valued at $32,000. Clear Investment Research LLC lifted its holdings in Meta Platforms by 411.1% during the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 74 shares during the last quarter. Delos Wealth Advisors LLC boosted its position in Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after purchasing an additional 58 shares during the period. POM Investment Strategies LLC purchased a new position in shares of Meta Platforms in the second quarter worth about $38,000. Finally, Ruedi Wealth Management Inc. raised its position in shares of Meta Platforms by 122.2% in 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 period. Institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In related news, CEO Mark Zuckerberg sold 9,760 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $502.87, for a total transaction of $4,908,011.20. Following the sale, the chief executive officer now owns 247,915 shares of the company’s stock, valued at $124,669,016.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Jennifer Newstead sold 901 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $451.15, for a total value of $406,486.15. Following the sale, the insider now directly owns 33,324 shares of the company’s stock, valued at $15,034,122.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 9,760 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $502.87, for a total transaction of $4,908,011.20. Following the completion of the transaction, the chief executive officer now owns 247,915 shares in the company, valued at approximately $124,669,016.05. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 356,426 shares of company stock valued at $185,053,425. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Price Performance

META opened at $561.35 on Friday. The stock’s 50 day moving average price is $507.58 and its 200-day moving average price is $497.22. Meta Platforms, Inc. has a 52-week low of $279.40 and a 52-week high of $564.50. The stock has a market capitalization of $1.42 trillion, a PE ratio of 32.24, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21. 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 (NASDAQ:META) last announced its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. During the same quarter in the previous year, the firm posted $3.23 EPS. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. On average, equities research analysts predict that Meta Platforms, Inc. will post 21.36 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Monday, September 16th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.36%. Meta Platforms’s dividend payout ratio is presently 11.49%.

Analyst Ratings Changes

A number of research firms recently weighed in on META. Evercore ISI lifted their price objective on shares of Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Citigroup boosted their price objective on Meta Platforms from $550.00 to $580.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. The Goldman Sachs Group raised their target price on Meta Platforms from $522.00 to $555.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Robert W. Baird lifted their target price on Meta Platforms from $500.00 to $530.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Finally, Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a report on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-four have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $577.26.

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.