Enclave Advisors LLC Buys 4,485 Shares of Meta Platforms, Inc. (NASDAQ:META)

Enclave Advisors LLC grew its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 133.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,843 shares of the social networking company's stock after purchasing an additional 4,485 shares during the quarter. Enclave Advisors LLC's holdings in Meta Platforms were worth $4,520,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Ullmann Wealth Partners Group LLC grew its stake in shares of Meta Platforms by 4.6% in the first quarter. Ullmann Wealth Partners Group LLC now owns 2,250 shares of the social networking company's stock valued at $1,297,000 after acquiring an additional 98 shares in the last quarter. Edge Wealth Management LLC grew its stake in shares of Meta Platforms by 55.3% in the first quarter. Edge Wealth Management LLC now owns 702 shares of the social networking company's stock valued at $405,000 after acquiring an additional 250 shares in the last quarter. Foster Group Inc. grew its stake in shares of Meta Platforms by 8.4% in the first quarter. Foster Group Inc. now owns 8,575 shares of the social networking company's stock valued at $4,942,000 after acquiring an additional 661 shares in the last quarter. Fjell Capital LLC grew its stake in shares of Meta Platforms by 4.2% in the first quarter. Fjell Capital LLC now owns 3,268 shares of the social networking company's stock valued at $1,884,000 after acquiring an additional 133 shares in the last quarter. Finally, Vest Financial LLC grew its stake in shares of Meta Platforms by 801.3% in the first quarter. Vest Financial LLC now owns 84,599 shares of the social networking company's stock valued at $48,759,000 after acquiring an additional 75,213 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

META has been the topic of several research reports. Wells Fargo & Company decreased their price target on shares of Meta Platforms from $752.00 to $664.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Stifel Nicolaus upped their price target on shares of Meta Platforms from $628.00 to $655.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Tigress Financial restated a "strong-buy" rating on shares of Meta Platforms in a research note on Tuesday, February 11th. Jefferies Financial Group reduced their price objective on shares of Meta Platforms from $725.00 to $600.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Finally, DA Davidson reduced their price objective on shares of Meta Platforms from $800.00 to $650.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms currently has a consensus rating of "Moderate Buy" and a consensus target price of $702.48.

Insider Buying and Selling

In other news, COO Javier Olivan sold 608 shares of the business's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $488.18, for a total value of $296,813.44. Following the transaction, the chief operating officer now owns 5,622 shares in the company, valued at approximately $2,744,547.96. The trade was a 9.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer Newstead sold 519 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $671.00, for a total transaction of $348,249.00. Following the completion of the transaction, the insider now owns 29,702 shares in the company, valued at $19,930,042. This trade represents a 1.72% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,171 shares of company stock worth $35,163,457 in the last ninety days. Company insiders own 13.61% of the company's stock.

Meta Platforms Trading Up 1.9%

NASDAQ:META traded up $13.09 during mid-day trading on Friday, hitting $697.71. 11,707,462 shares of the company's stock were exchanged, compared to its average volume of 14,510,579. The company has a 50 day simple moving average of $585.44 and a 200-day simple moving average of $613.90. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $740.91. The firm has a market capitalization of $1.75 trillion, a P/E ratio of 29.17, a PEG ratio of 1.42 and a beta of 1.24.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The business had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. During the same period last year, the company earned $4.71 EPS. The firm's revenue was up 16.1% compared to the same quarter last year. As a group, research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be given a dividend of $0.525 per share. The ex-dividend date is Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.30%. Meta Platforms's dividend payout ratio is presently 8.19%.

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.