Enclave Advisors LLC Buys 1,878 Shares of Meta Platforms, Inc. $META

Enclave Advisors LLC raised its stake in Meta Platforms, Inc. (NASDAQ:META) by 42.8% in the third quarter, Holdings Channel.com reports. The firm owned 6,270 shares of the social networking company’s stock after acquiring an additional 1,878 shares during the period. Enclave Advisors LLC’s holdings in Meta Platforms were worth $4,605,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of META. Kingstone Capital Partners Texas LLC grew its position in Meta Platforms by 608,429.2% during the second quarter. Kingstone Capital Partners Texas LLC now owns 59,775,823 shares of the social networking company’s stock worth $44,119,937,000 after buying an additional 59,766,000 shares in the last quarter. Norges Bank acquired a new position in Meta Platforms in the 2nd quarter valued at approximately $23,155,393,000. Laurel Wealth Advisors LLC lifted its position in shares of Meta Platforms by 73,443.1% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 8,417,003 shares of the social networking company’s stock worth $6,212,506,000 after acquiring an additional 8,405,558 shares during the period. State Street Corp grew its holdings in shares of Meta Platforms by 1.9% during the 2nd quarter. State Street Corp now owns 86,925,674 shares of the social networking company’s stock worth $64,158,971,000 after purchasing an additional 1,650,435 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Meta Platforms by 0.8% during the second quarter. Vanguard Group Inc. now owns 192,591,101 shares of the social networking company’s stock valued at $142,149,566,000 after purchasing an additional 1,532,568 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. DA Davidson set a $825.00 target price on Meta Platforms in a research note on Thursday, October 30th. Benchmark cut shares of Meta Platforms from a “buy” rating to a “hold” rating in a research note on Thursday, October 30th. Citigroup reaffirmed a “buy” rating on shares of Meta Platforms in a report on Thursday, December 4th. Rosenblatt Securities reissued a “buy” rating and issued a $1,117.00 target price on shares of Meta Platforms in a research note on Friday, December 5th. Finally, Wells Fargo & Company dropped their price target on shares of Meta Platforms from $837.00 to $802.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $820.22.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 2,610 shares of the stock in a transaction dated Saturday, November 15th. The shares were sold at an average price of $609.46, for a total transaction of $1,590,690.60. Following the sale, the chief operating officer owned 9,784 shares of the company’s stock, valued at $5,962,956.64. This represents a 21.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Aaron Anderson sold 726 shares of the business’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $591.60, for a total transaction of $429,501.60. Following the completion of the transaction, the chief accounting officer directly owned 6,035 shares of the company’s stock, valued at approximately $3,570,306. This represents a 10.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 42,074 shares of company stock worth $26,359,548 over the last quarter. Corporate insiders own 13.61% of the company’s stock.

Meta Platforms Stock Performance

NASDAQ:META opened at $663.29 on Friday. The stock has a market capitalization of $1.67 trillion, a P/E ratio of 29.30, a price-to-earnings-growth ratio of 1.37 and a beta of 1.28. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.15. Meta Platforms, Inc. has a 1 year low of $479.80 and a 1 year high of $796.25. The firm has a 50 day moving average of $654.81 and a 200-day moving average of $706.27.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, October 29th. The social networking company reported $7.25 earnings per share for the quarter, beating analysts’ consensus estimates of $6.74 by $0.51. The firm had revenue of $51.24 billion during the quarter, compared to analysts’ expectations of $49.34 billion. Meta Platforms had a return on equity of 39.35% and a net margin of 30.89%.The business’s revenue was up 26.2% on a year-over-year basis. During the same period last year, the firm posted $6.03 EPS. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 23rd. Investors of record on Monday, December 15th were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, December 15th. Meta Platforms’s payout ratio is currently 9.28%.

Meta Platforms Profile

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.