Callan Family Office LLC Acquires 27,347 Shares of Meta Platforms, Inc. (NASDAQ:META)

Callan Family Office LLC boosted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 1,616.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,039 shares of the social networking company’s stock after purchasing an additional 27,347 shares during the period. Meta Platforms makes up 1.1% of Callan Family Office LLC’s portfolio, making the stock its 17th largest position. Callan Family Office LLC’s holdings in Meta Platforms were worth $17,003,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Geode Capital Management LLC raised its stake in shares of Meta Platforms by 1.5% during the third quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock valued at $27,470,870,000 after acquiring an additional 698,884 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Meta Platforms by 1.9% during the third quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock valued at $8,266,531,000 after acquiring an additional 263,063 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Meta Platforms by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 14,251,766 shares of the social networking company’s stock valued at $8,344,552,000 after acquiring an additional 424,201 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Meta Platforms by 2.8% during the third quarter. Franklin Resources Inc. now owns 6,946,755 shares of the social networking company’s stock valued at $4,101,602,000 after acquiring an additional 186,728 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of Meta Platforms by 1.7% during the fourth quarter. Fisher Asset Management LLC now owns 6,675,174 shares of the social networking company’s stock valued at $3,908,382,000 after acquiring an additional 110,040 shares during the last quarter. 79.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

META has been the subject of several recent analyst reports. Arete Research raised shares of Meta Platforms to a “hold” rating in a research note on Friday, January 24th. KeyCorp increased their price target on shares of Meta Platforms from $700.00 to $750.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. UBS Group increased their price target on shares of Meta Platforms from $736.00 to $786.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Scotiabank increased their price target on shares of Meta Platforms from $583.00 to $627.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 30th. Finally, Cantor Fitzgerald increased their price target on shares of Meta Platforms from $720.00 to $790.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $719.26.

Insider Activity

In related news, CEO Mark Zuckerberg sold 35,921 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $622.24, for a total transaction of $22,351,483.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $629.56, for a total transaction of $260,008.28. Following the transaction, the chief operating officer now directly owns 18,340 shares of the company’s stock, valued at $11,546,130.40. The trade was a 2.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 725,081 shares of company stock worth $472,702,625 in the last three months. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Up 1.3 %

META opened at $605.71 on Wednesday. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 1-year low of $414.50 and a 1-year high of $740.91. The company has a market capitalization of $1.53 trillion, a PE ratio of 25.32, a PEG ratio of 1.42 and a beta of 1.23. The firm’s 50 day simple moving average is $657.45 and its two-hundred day simple moving average is $601.96.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating the consensus estimate of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same quarter in the prior year, the business posted $5.33 EPS. As a group, equities analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.35%. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, March 14th. Meta Platforms’s dividend payout ratio (DPR) is presently 8.78%.

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.