Endeavor Private Wealth Inc. Boosts Position in Meta Platforms, Inc. (NASDAQ:META)

Key Points

• Endeavor Private Wealth Inc. increased its stake in Meta Platforms, Inc. by 330.8%, acquiring an additional 1,654 shares, bringing its total holdings to 2,154 shares valued at approximately $1,242,000.
• Institutional investors currently own 79.91% of META stock, highlighting significant interest from large financial entities.
• Meta Platforms reported a quarterly earnings per share of $7.14, surpassing analysts' expectations, with revenue reaching $47.52 billion, a 21.6% increase year-over-year.

Endeavor Private Wealth Inc. raised its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 330.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 2,154 shares of the social networking company's stock after acquiring an additional 1,654 shares during the period. Endeavor Private Wealth Inc.'s holdings in Meta Platforms were worth $1,242,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its holdings in Meta Platforms by 2.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company's stock valued at $24,777,282,000 after purchasing an additional 1,049,121 shares during the period. Capital World Investors lifted its stake in shares of Meta Platforms by 2.9% in the fourth quarter. Capital World Investors now owns 40,317,105 shares of the social networking company's stock valued at $23,606,338,000 after purchasing an additional 1,141,355 shares during the period. GAMMA Investing LLC lifted its holdings in Meta Platforms by 67,172.9% in the 1st quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company's stock valued at $13,517,178,000 after purchasing an additional 23,417,803 shares in the last quarter. Northern Trust Corp grew its stake in shares of Meta Platforms by 13.5% in the fourth quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company's stock valued at $13,727,613,000 after buying an additional 2,787,832 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Meta Platforms by 2.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,007,308 shares of the social networking company's stock worth $7,030,399,000 after acquiring an additional 280,357 shares in the last quarter. Institutional investors own 79.91% of the company's stock.

Analyst Upgrades and Downgrades

META has been the subject of several analyst reports. Monness Crespi & Hardt boosted their target price on Meta Platforms from $780.00 to $860.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Wedbush boosted their price objective on shares of Meta Platforms from $750.00 to $920.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Oppenheimer raised their price objective on shares of Meta Platforms from $775.00 to $870.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. KeyCorp increased their target price on shares of Meta Platforms from $800.00 to $905.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Finally, Needham & Company LLC raised shares of Meta Platforms from an "underperform" rating to a "hold" rating in a research report on Thursday, July 3rd. Four equities research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $822.41.

Insiders Place Their Bets

In other Meta Platforms news, CTO Andrew Bosworth sold 22,449 shares of the company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the completion of the sale, the chief technology officer directly owned 1,183 shares in the company, valued at $753,393.55. This represents a 94.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 15,847 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $753.43, for a total value of $11,939,605.21. The disclosure for this sale can be found here. Insiders have sold a total of 167,815 shares of company stock worth $117,135,845 in the last ninety days. Insiders own 13.61% of the company's stock.

Meta Platforms Price Performance

NASDAQ:META traded up $8.53 during trading hours on Wednesday, hitting $771.99. The company's stock had a trading volume of 9,653,883 shares, compared to its average volume of 13,549,258. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.97 and a current ratio of 1.97. The company has a market capitalization of $1.94 trillion, a PE ratio of 27.95, a PEG ratio of 1.59 and a beta of 1.27. The business's 50-day moving average is $707.08 and its two-hundred day moving average is $648.07. Meta Platforms, Inc. has a 52-week low of $479.80 and a 52-week high of $784.75.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results on Wednesday, July 30th. The social networking company reported $7.14 earnings per share for the quarter, beating the consensus estimate of $5.75 by $1.39. The firm had revenue of $47.52 billion during the quarter, compared to the consensus estimate of $44.55 billion. Meta Platforms had a return on equity of 39.33% and a net margin of 39.99%. The firm's revenue for the quarter was up 21.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.16 EPS. As a group, research analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were given a dividend of $0.525 per share. 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, June 16th. Meta Platforms's dividend payout ratio is currently 7.60%.

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.