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

Sendero Wealth Management LLC raised its holdings in Meta Platforms, Inc. (NASDAQ:META) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,117 shares of the social networking company’s stock after acquiring an additional 499 shares during the quarter. Meta Platforms accounts for about 1.8% of Sendero Wealth Management LLC’s holdings, 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 SEC.

Several other institutional investors also recently made changes to their positions in META. JDM Financial Group LLC acquired a new stake in shares of Meta Platforms in the third quarter valued at about $30,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Meta Platforms during the 3rd quarter valued at approximately $36,000. Avondale Wealth Management purchased a new stake in shares of Meta Platforms during the 4th quarter worth approximately $41,000. Halpern Financial Inc. acquired a new stake in shares of Meta Platforms in the 3rd quarter worth approximately $46,000. Finally, West Financial Advisors LLC purchased a new position in Meta Platforms in the 3rd quarter valued at approximately $49,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on META. KeyCorp upped their target price on Meta Platforms from $655.00 to $700.00 and gave the company an “overweight” rating in a report on Friday, January 10th. Wedbush increased their price objective on shares of Meta Platforms from $640.00 to $680.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. Wells Fargo & Company lifted their target price on shares of Meta Platforms from $641.00 to $685.00 and gave the stock an “overweight” rating in a research report on Monday. Wolfe Research increased their price target on shares of Meta Platforms from $670.00 to $730.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Finally, Hsbc Global Res upgraded Meta Platforms to a “hold” rating in a research report on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $650.05.

Insider Buying and Selling

In other news, CEO Mark Zuckerberg sold 35,921 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $616.16, for a total transaction of $22,133,083.36. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Nicholas Clegg sold 7,296 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $553.48, for a total transaction of $4,038,190.08. Following the sale, the insider now directly owns 38,695 shares of the company’s stock, valued at approximately $21,416,908.60. The trade was a 15.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 496,174 shares of company stock valued at $301,408,499. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

META opened at $611.30 on Friday. Meta Platforms, Inc. has a 52-week low of $358.61 and a 52-week high of $638.40. The company has a 50 day moving average of $595.92 and a two-hundred day moving average of $555.25. The company has a market cap of $1.54 trillion, a P/E ratio of 28.79, a P/E/G ratio of 1.22 and a beta of 1.19. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The firm had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. On average, analysts expect that Meta Platforms, Inc. will post 22.68 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.33%. Meta Platforms’s payout ratio is currently 9.42%.

Meta Platforms Company 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.