Callan Capital LLC Grows Position in Meta Platforms, Inc. (NASDAQ:META)

Callan Capital LLC grew its stake in Meta Platforms, Inc. (NASDAQ:META) by 27.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,711 shares of the social networking company’s stock after purchasing an additional 589 shares during the period. Callan Capital LLC’s holdings in Meta Platforms were worth $960,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Meta Platforms by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 183,244,796 shares of the social networking company’s stock worth $55,011,920,000 after purchasing an additional 1,733,182 shares in the last quarter. FMR LLC lifted its position in shares of Meta Platforms by 4.0% during the 3rd quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock valued at $39,270,443,000 after buying an additional 5,001,647 shares in the last quarter. Morgan Stanley lifted its position in shares of Meta Platforms by 3.4% during the 3rd quarter. Morgan Stanley now owns 36,277,772 shares of the social networking company’s stock valued at $10,890,950,000 after buying an additional 1,184,978 shares in the last quarter. Northern Trust Corp lifted its position in shares of Meta Platforms by 4.3% during the 3rd quarter. Northern Trust Corp now owns 23,003,927 shares of the social networking company’s stock valued at $6,906,009,000 after buying an additional 946,871 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Meta Platforms by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,143,462 shares of the social networking company’s stock valued at $3,945,799,000 after buying an additional 111,735 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Up 0.4 %

META traded up $1.91 on Friday, reaching $443.29. The company’s stock had a trading volume of 32,645,619 shares, compared to its average volume of 18,233,678. The stock has a market cap of $1.13 trillion, a price-to-earnings ratio of 25.46, a price-to-earnings-growth ratio of 1.12 and a beta of 1.20. Meta Platforms, Inc. has a 1 year low of $229.85 and a 1 year high of $531.49. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.67. The business’s 50 day moving average is $494.48 and its 200 day moving average is $404.27.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. The firm had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. As a group, research analysts forecast that Meta Platforms, Inc. will post 20.33 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Thursday, February 22nd were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date was Wednesday, February 21st. Meta Platforms’s dividend payout ratio is currently 11.49%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on META. Raymond James decreased their target price on Meta Platforms from $550.00 to $525.00 and set a “strong-buy” rating on the stock in a research report on Thursday. Truist Financial reduced their price objective on Meta Platforms from $550.00 to $535.00 and set a “buy” rating for the company in a research note on Thursday. Benchmark reissued a “hold” rating on shares of Meta Platforms in a research note on Monday, April 22nd. Royal Bank of Canada reduced their price objective on Meta Platforms from $600.00 to $570.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, Roth Mkm increased their price objective on Meta Platforms from $500.00 to $510.00 and gave the company a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $509.18.

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total transaction of $305,370.00. Following the transaction, the insider now owns 38,398 shares of the company’s stock, valued at approximately $20,043,756. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Meta Platforms news, COO Javier Olivan sold 490 shares of the stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $517.75, for a total transaction of $253,697.50. Following the transaction, the chief operating officer now owns 7,579 shares of the company’s stock, valued at approximately $3,924,027.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jennifer Newstead sold 585 shares of the stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total value of $305,370.00. Following the transaction, the insider now directly owns 38,398 shares in the company, valued at approximately $20,043,756. The disclosure for this sale can be found here. Insiders have sold a total of 1,349,148 shares of company stock valued at $649,552,559 in the last quarter. Insiders own 13.75% of the company’s stock.

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.