Sendero Wealth Management LLC Has $14.11 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Sendero Wealth Management LLC lifted its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 15.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,476 shares of the social networking company's stock after purchasing an additional 3,359 shares during the quarter. Meta Platforms comprises 2.0% of Sendero Wealth Management LLC's holdings, making the stock its 10th largest position. Sendero Wealth Management LLC's holdings in Meta Platforms were worth $14,107,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of META. Valley Financial Group Inc. increased its stake in shares of Meta Platforms by 2.4% during the fourth quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock valued at $344,000 after acquiring an additional 14 shares during the period. Lantern Wealth Advisors LLC boosted its stake in Meta Platforms by 0.5% during the 4th quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company's stock valued at $1,743,000 after purchasing an additional 14 shares in the last quarter. Seelaus Asset Management LLC increased its position in shares of Meta Platforms by 0.9% during the 4th quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company's stock valued at $960,000 after purchasing an additional 15 shares during the period. Meredith Wealth Planning increased its position in shares of Meta Platforms by 0.8% during the 4th quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company's stock valued at $1,097,000 after purchasing an additional 15 shares during the period. Finally, Maiden Cove Capital LLC raised its stake in shares of Meta Platforms by 3.2% in the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company's stock worth $282,000 after buying an additional 15 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Wedbush lifted their target price on Meta Platforms from $680.00 to $750.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Piper Sandler lifted their price objective on shares of Meta Platforms from $610.00 to $650.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. The Goldman Sachs Group increased their target price on shares of Meta Platforms from $685.00 to $690.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. 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 report on Thursday, May 1st. Finally, Moffett Nathanson increased their price objective on Meta Platforms from $525.00 to $605.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $702.48.

Meta Platforms Stock Down 0.5%

Shares of NASDAQ:META traded down $3.33 during trading on Thursday, hitting $684.62. 13,062,206 shares of the company were exchanged, compared to its average volume of 14,510,826. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $740.91. The stock has a market cap of $1.72 trillion, a price-to-earnings ratio of 28.62, a P/E/G ratio of 1.42 and a beta of 1.24. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The firm has a fifty day moving average price of $583.27 and a two-hundred day moving average price of $613.00.

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

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be given a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.31%. The ex-dividend date is Monday, June 16th. Meta Platforms's payout ratio is 8.19%.

Insider Transactions at Meta Platforms

In related news, COO Javier Olivan sold 608 shares of the business's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $488.18, for a total value of $296,813.44. Following the completion of the sale, the chief operating officer now directly owns 5,622 shares in the company, valued at approximately $2,744,547.96. The trade was a 9.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Andrew Bosworth sold 22,449 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $636.85, for a total value of $14,296,645.65. Following the completion of the transaction, the chief technology officer now owns 1,183 shares in the company, valued at $753,393.55. The trade was a 94.99% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,652 shares of company stock worth $34,815,208. Company insiders own 13.61% 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.