Callan Capital LLC Purchases 589 Shares of Meta Platforms, Inc. (NASDAQ:META)

Callan Capital LLC lifted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 27.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,711 shares of the social networking company’s stock after acquiring an additional 589 shares during the period. Callan Capital LLC’s holdings in Meta Platforms were worth $960,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Daiwa Securities Group Inc. lifted its stake in Meta Platforms by 7.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company’s stock valued at $159,841,000 after purchasing an additional 32,423 shares during the last quarter. Bank of Stockton increased its position in Meta Platforms by 9.2% in the 4th quarter. Bank of Stockton now owns 4,743 shares of the social networking company’s stock valued at $1,819,000 after acquiring an additional 400 shares during the period. Signify Wealth acquired a new position in Meta Platforms in the 4th quarter valued at approximately $228,000. Illinois Municipal Retirement Fund increased its position in Meta Platforms by 1.8% in the 4th quarter. Illinois Municipal Retirement Fund now owns 223,788 shares of the social networking company’s stock valued at $79,212,000 after acquiring an additional 4,025 shares during the period. Finally, Investment Research & Advisory Group Inc. increased its position in Meta Platforms by 1.5% in the 4th quarter. Investment Research & Advisory Group Inc. now owns 10,962 shares of the social networking company’s stock valued at $3,880,000 after acquiring an additional 164 shares during the period. Institutional investors own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Stifel Nicolaus upped their price target on shares of Meta Platforms from $527.00 to $588.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Guggenheim decreased their price objective on shares of Meta Platforms from $520.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday. Oppenheimer decreased their price objective on shares of Meta Platforms from $585.00 to $500.00 and set an “outperform” rating for the company in a research report on Thursday. Susquehanna increased their price objective on shares of Meta Platforms from $400.00 to $550.00 and gave the stock a “positive” rating in a research report on Friday, February 2nd. Finally, Jefferies Financial Group decreased their price objective on shares of Meta Platforms from $585.00 to $540.00 and set a “buy” rating for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirty-eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $509.18.

Insider Transactions at Meta Platforms

In other news, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $522.00, for a total value of $305,370.00. Following the completion of the transaction, the insider now owns 38,398 shares in the company, valued at $20,043,756. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $522.00, for a total transaction of $305,370.00. Following the completion of the transaction, the insider now owns 38,398 shares of the company’s stock, valued at $20,043,756. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Javier Olivan sold 490 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $488.03, for a total transaction of $239,134.70. Following the transaction, the chief operating officer now directly owns 79,944 shares of the company’s stock, valued at approximately $39,015,070.32. The disclosure for this sale can be found here. Insiders sold 1,349,148 shares of company stock worth $649,552,559 over the last quarter. Corporate insiders own 13.75% of the company’s stock.

Meta Platforms Stock Performance

NASDAQ META traded up $1.91 during trading hours on Friday, reaching $443.29. 32,645,619 shares of the company were exchanged, compared to its average volume of 18,233,678. Meta Platforms, Inc. has a 1 year low of $229.85 and a 1 year high of $531.49. The business’s 50 day simple moving average is $494.48 and its 200-day simple moving average is $404.27. The company has a quick ratio of 2.67, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $1.13 trillion, a P/E ratio of 25.46, a P/E/G ratio of 1.12 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping the consensus estimate 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 net margin of 32.06% and a return on equity of 32.03%. On average, equities research analysts expect that Meta Platforms, Inc. will post 20.33 earnings per share for the current year.

Meta Platforms Announces Dividend

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

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.