Sendero Wealth Management LLC Purchases 2,777 Shares of Meta Platforms, Inc. (NASDAQ:META)

Sendero Wealth Management LLC grew its holdings in Meta Platforms, Inc. (NASDAQ:META) by 15.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,618 shares of the social networking company’s stock after acquiring an additional 2,777 shares during the quarter. Meta Platforms accounts for about 1.9% of Sendero Wealth Management LLC’s investment portfolio, making the stock its 11th largest holding. Sendero Wealth Management LLC’s holdings in Meta Platforms were worth $11,803,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of META. Vanguard Group Inc. increased its stake in Meta Platforms by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock valued at $90,891,055,000 after buying an additional 831,047 shares during the last quarter. Capital World Investors raised its position in Meta Platforms by 0.6% during the first quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock worth $18,597,382,000 after acquiring an additional 244,803 shares in the last quarter. Capital Research Global Investors lifted its stake in Meta Platforms by 14.5% in the 1st quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock valued at $16,799,612,000 after purchasing an additional 4,379,826 shares during the last quarter. Jennison Associates LLC grew its holdings in Meta Platforms by 24.7% during the first quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock worth $6,733,731,000 after purchasing an additional 2,748,620 shares during the period. Finally, GQG Partners LLC lifted its position in shares of Meta Platforms by 3.1% in the first quarter. GQG Partners LLC now owns 11,497,335 shares of the social networking company’s stock valued at $5,582,876,000 after buying an additional 342,742 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Bank of America increased their price target on Meta Platforms from $563.00 to $630.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Guggenheim increased their target price on shares of Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a research report on Monday. Tigress Financial increased their price target on shares of Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 16th. Truist Financial upped their target price on Meta Platforms from $570.00 to $650.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Stifel Nicolaus lifted 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. Two analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $608.58.

Insider Buying and Selling at Meta Platforms

In other news, insider Jennifer Newstead sold 901 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $451.15, for a total value of $406,486.15. Following the transaction, the insider now directly owns 33,324 shares in the company, valued at approximately $15,034,122.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CTO Andrew Bosworth sold 5,057 shares of Meta Platforms stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $2,663,825.32. Following the transaction, the chief technology officer now directly owns 11,990 shares in the company, valued at approximately $6,315,852.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 901 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $451.15, for a total transaction of $406,486.15. Following the completion of the transaction, the insider now owns 33,324 shares of the company’s stock, valued at $15,034,122.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 266,412 shares of company stock worth $140,058,708 over the last 90 days. Company insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

NASDAQ:META traded down $4.21 during trading hours on Thursday, hitting $586.30. 3,432,138 shares of the stock traded hands, compared to its average volume of 15,374,554. Meta Platforms, Inc. has a 1 year low of $279.40 and a 1 year high of $602.95. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The company has a market cap of $1.49 trillion, a price-to-earnings ratio of 33.68, a price-to-earnings-growth ratio of 1.39 and a beta of 1.22. The stock has a 50 day moving average price of $534.36 and a 200 day moving average price of $504.36.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $38.26 billion. During the same period in the prior year, the company earned $3.23 EPS. The business’s revenue was up 22.1% compared to the same quarter last year. Sell-side analysts forecast that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

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

About Meta Platforms

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.