Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Enclave Advisors LLC

Enclave Advisors LLC lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 29.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,358 shares of the social networking company’s stock after purchasing an additional 755 shares during the period. Enclave Advisors LLC’s holdings in Meta Platforms were worth $1,966,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the business. Wall Street Financial Group Inc. raised its position in Meta Platforms by 19.2% in the fourth quarter. Wall Street Financial Group Inc. now owns 583 shares of the social networking company’s stock worth $341,000 after acquiring an additional 94 shares in the last quarter. Atomi Financial Group Inc. increased its holdings in shares of Meta Platforms by 6.7% in the 4th quarter. Atomi Financial Group Inc. now owns 65,925 shares of the social networking company’s stock valued at $38,600,000 after purchasing an additional 4,122 shares in the last quarter. Monterey Private Wealth Inc. lifted its stake in shares of Meta Platforms by 9.4% in the fourth quarter. Monterey Private Wealth Inc. now owns 1,753 shares of the social networking company’s stock valued at $1,026,000 after purchasing an additional 151 shares during the period. Transform Wealth LLC boosted its holdings in Meta Platforms by 21.7% during the fourth quarter. Transform Wealth LLC now owns 26,065 shares of the social networking company’s stock worth $15,262,000 after buying an additional 4,647 shares in the last quarter. Finally, Lockerman Financial Group Inc. grew its position in Meta Platforms by 14.3% during the fourth quarter. Lockerman Financial Group Inc. now owns 919 shares of the social networking company’s stock worth $538,000 after buying an additional 115 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

Meta Platforms stock opened at $636.45 on Friday. The firm has a market capitalization of $1.61 trillion, a PE ratio of 29.98, a price-to-earnings-growth ratio of 1.16 and a beta of 1.19. Meta Platforms, Inc. has a one year low of $385.66 and a one year high of $638.40. The stock’s 50 day moving average price is $600.06 and its 200 day moving average price is $559.30. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The business had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. As a group, sell-side analysts expect that Meta Platforms, Inc. will post 22.96 EPS for the current fiscal 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 dividend of $0.50 per share. The ex-dividend date was Monday, December 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.31%. Meta Platforms’s dividend payout ratio is presently 9.42%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on META shares. BMO Capital Markets boosted their price target on Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a research note on Thursday, October 31st. Sanford C. Bernstein upped their target price on Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Citigroup lifted their price target on Meta Platforms from $645.00 to $705.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Barclays increased their price objective on shares of Meta Platforms from $550.00 to $630.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Finally, TD Cowen upped their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $654.20.

Insider Transactions at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $580.10, for a total transaction of $524,990.50. Following the transaction, the insider now directly owns 31,482 shares in the company, valued at $18,262,708.20. This represents a 2.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Susan J. Li sold 8,951 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $577.16, for a total transaction of $5,166,159.16. Following the completion of the sale, the chief financial officer now directly owns 51,591 shares of the company’s stock, valued at $29,776,261.56. The trade was a 14.78 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 568,016 shares of company stock valued at $346,031,180. 13.71% of the stock is currently owned by insiders.

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.