Endeavor Private Wealth Inc. Acquires 1,654 Shares of Meta Platforms, Inc. (NASDAQ:META)

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

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Other large investors have also recently made changes to their positions in the company. Inlight Wealth Management LLC bought a new position in Meta Platforms in the 1st quarter worth $25,000. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Meta Platforms during the 1st quarter valued at about $28,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of Meta Platforms during the first quarter valued at about $33,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in Meta Platforms in the fourth quarter worth about $45,000. Finally, JCIC Asset Management Inc. lifted its holdings in Meta Platforms by 102.6% in the first quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company's stock worth $46,000 after buying an additional 40 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on META. Truist Financial upped their target price on Meta Platforms from $700.00 to $720.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Robert W. Baird upped their price target on Meta Platforms from $635.00 to $740.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Scotiabank raised their price objective on Meta Platforms from $675.00 to $685.00 and gave the company a "sector perform" rating in a research report on Thursday, July 31st. Needham & Company LLC raised shares of Meta Platforms from an "underperform" rating to a "hold" rating in a research report on Thursday, July 3rd. Finally, Sanford C. Bernstein boosted their price target on Meta Platforms from $775.00 to $900.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Four analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $822.41.

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View Our Latest Analysis on Meta Platforms

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 519 shares of Meta Platforms stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $719.86, for a total transaction of $373,607.34. Following the completion of the transaction, the insider directly owned 25,550 shares of the company's stock, valued at $18,392,423. The trade was a 1.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 transaction of $11,939,605.21. The disclosure for this sale can be found here. In the last three months, insiders have sold 167,298 shares of company stock valued at $116,742,790. 13.61% of the stock is currently owned by company insiders.

Meta Platforms Trading Down 1.7%

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Shares of META opened at $763.46 on Wednesday. The stock has a market capitalization of $1.92 trillion, a PE ratio of 27.64, a P/E/G ratio of 1.59 and a beta of 1.27. The company's fifty day moving average is $707.08 and its 200 day moving average is $648.07. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.97 and a current ratio of 1.97. Meta Platforms, Inc. has a fifty-two week low of $478.65 and a fifty-two week high of $784.75.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The social networking company reported $7.14 EPS for the quarter, topping analysts' consensus estimates of $5.75 by $1.39. Meta Platforms had a net margin of 39.99% and a return on equity of 39.33%. The business had revenue of $47.52 billion during the quarter, compared to analysts' expectations of $44.55 billion. During the same period last year, the company posted $5.16 EPS. The business's revenue was up 21.6% on a year-over-year basis. Sell-side analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were given a dividend of $0.525 per share. The ex-dividend date was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. Meta Platforms's dividend payout ratio is 7.60%.

About Meta Platforms

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.

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