TruWealth Advisors LLC Purchases 523 Shares of Meta Platforms, Inc. (NASDAQ:META)

TruWealth Advisors LLC grew its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 2.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,449 shares of the social networking company's stock after acquiring an additional 523 shares during the period. TruWealth Advisors LLC's holdings in Meta Platforms were worth $10,633,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Meta Platforms by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company's stock worth $111,948,344,000 after acquiring an additional 1,502,553 shares during the period. Geode Capital Management LLC boosted its stake in shares of Meta Platforms by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company's stock valued at $28,719,970,000 after purchasing an additional 1,020,519 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Meta Platforms by 2.5% during 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 buying an additional 1,049,121 shares during the period. Capital World Investors increased its holdings in Meta Platforms by 2.9% during 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 buying an additional 1,141,355 shares during the period. Finally, Norges Bank bought a new position in Meta Platforms in the fourth quarter worth approximately $19,949,512,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Meta Platforms news, COO Javier Olivan sold 608 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $609.00, for a total value of $370,272.00. Following the sale, the chief operating officer now directly owns 8,054 shares in the company, valued at approximately $4,904,886. This trade represents a 7.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Andrew Bosworth sold 22,449 shares of the company's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $636.85, for a total value of $14,296,645.65. Following the completion of the sale, the chief technology officer now owns 1,183 shares of the company's stock, valued at approximately $753,393.55. This trade represents a 94.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,652 shares of company stock valued at $34,815,208 in the last quarter. 13.61% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Moffett Nathanson lifted their price target on Meta Platforms from $525.00 to $605.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Rosenblatt Securities boosted their target price on shares of Meta Platforms from $846.00 to $918.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Tigress Financial restated a "strong-buy" rating on shares of Meta Platforms in a report on Tuesday, February 11th. Susquehanna decreased their price target on Meta Platforms from $800.00 to $700.00 and set a "positive" rating for the company in a research note on Thursday, May 1st. Finally, Evercore ISI boosted their price target on Meta Platforms from $725.00 to $750.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms currently has an average rating of "Moderate Buy" and a consensus price target of $702.48.

Meta Platforms Trading Down 0.5%

NASDAQ META traded down $3.33 during trading on Thursday, hitting $684.62. The stock had a trading volume of 13,062,206 shares, compared to its average volume of 14,510,834. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91. The company has a market capitalization of $1.72 trillion, a PE ratio of 28.62, a PEG ratio of 1.42 and a beta of 1.24. The firm has a 50 day moving average price of $583.27 and a 200 day moving average price of $613.00.

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, beating the consensus estimate of $5.33 by $1.10. The firm had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. Meta Platforms's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.71 earnings per share. As a group, equities research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date of this dividend is Monday, June 16th. 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.