Callahan Advisors LLC Has $64.35 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Callahan Advisors LLC trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 4.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 112,415 shares of the social networking company’s stock after selling 4,851 shares during the quarter. Meta Platforms makes up approximately 6.3% of Callahan Advisors LLC’s holdings, making the stock its largest position. Callahan Advisors LLC’s holdings in Meta Platforms were worth $64,351,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in META. Central Valley Advisors LLC boosted its position in shares of Meta Platforms by 0.3% during the third quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock valued at $3,271,000 after buying an additional 18 shares during the last quarter. Cherrydale Wealth Management LLC lifted its stake in Meta Platforms by 0.5% during the 3rd quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock valued at $2,199,000 after acquiring an additional 18 shares during the period. Alliance Wealth Advisors LLC boosted its holdings in shares of Meta Platforms by 0.7% during the 3rd quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock valued at $1,595,000 after acquiring an additional 18 shares during the last quarter. Kozak & Associates Inc. grew its stake in shares of Meta Platforms by 1.0% in the third quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock worth $1,099,000 after acquiring an additional 18 shares during the period. Finally, Capital Advisors Ltd. LLC raised its holdings in shares of Meta Platforms by 0.5% during the third quarter. Capital Advisors Ltd. LLC now owns 3,560 shares of the social networking company’s stock valued at $2,038,000 after purchasing an additional 18 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of NASDAQ:META opened at $589.34 on Friday. The firm has a fifty day simple moving average of $560.42 and a two-hundred day simple moving average of $515.25. Meta Platforms, Inc. has a 52 week low of $313.66 and a 52 week high of $602.95. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $1.49 trillion, a P/E ratio of 27.76, a PEG ratio of 1.24 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $0.84. The business had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. On average, analysts expect that Meta Platforms, Inc. will post 22.53 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date was Monday, September 16th. Meta Platforms’s payout ratio is currently 9.42%.

Wall Street Analyst Weigh In

META has been the topic of several research reports. Royal Bank of Canada restated an “outperform” rating and issued a $570.00 target price on shares of Meta Platforms in a report on Thursday, August 1st. Guggenheim lifted their price objective on Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Citigroup increased their target price on Meta Platforms from $645.00 to $705.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Roth Mkm raised their target price on Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, DA Davidson started coverage on shares of Meta Platforms in a research report on Tuesday, September 10th. They set a “buy” rating and a $600.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $634.10.

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $567.70, for a total value of $511,497.70. Following the completion of the sale, the insider now directly owns 30,581 shares of the company’s stock, valued at $17,360,833.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Jennifer Newstead sold 901 shares of Meta Platforms stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $567.70, for a total transaction of $511,497.70. Following the completion of the sale, the insider now owns 30,581 shares of the company’s stock, valued at approximately $17,360,833.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Christopher K. Cox sold 20,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $557.52, for a total value of $11,150,400.00. Following the completion of the transaction, the insider now directly owns 338,662 shares in the company, valued at approximately $188,810,838.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 228,118 shares of company stock worth $121,237,935 over the last quarter. Company insiders own 13.71% of the company’s stock.

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.