Turtle Creek Wealth Advisors LLC Buys 1,230 Shares of Meta Platforms, Inc. (NASDAQ:META)

Turtle Creek Wealth Advisors LLC grew its stake in Meta Platforms, Inc. (NASDAQ:META) by 11.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,551 shares of the social networking company’s stock after acquiring an additional 1,230 shares during the period. Meta Platforms accounts for approximately 1.4% of Turtle Creek Wealth Advisors LLC’s holdings, making the stock its 19th largest position. Turtle Creek Wealth Advisors LLC’s holdings in Meta Platforms were worth $5,609,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Beaird Harris Wealth Management LLC grew its holdings in Meta Platforms by 68.9% during the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after purchasing an additional 42 shares during the period. Quest Partners LLC bought a new position in Meta Platforms during the fourth quarter worth about $32,000. Clear Investment Research LLC grew its holdings in Meta Platforms by 411.1% during the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after purchasing an additional 74 shares during the period. Cranbrook Wealth Management LLC grew its holdings in Meta Platforms by 80.4% during the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after purchasing an additional 45 shares during the period. Finally, Gilfoyle & Co LLC bought a new position in Meta Platforms during the fourth quarter worth about $39,000. Institutional investors own 79.91% of the company’s stock.

Insider Activity

In other news, insider Jennifer Newstead sold 585 shares of the 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 directly owns 38,398 shares of the company’s stock, valued at approximately $20,043,756. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Meta Platforms news, Director Sheryl Sandberg sold 105,000 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $476.71, for a total value of $50,054,550.00. Following the sale, the director now directly owns 630,293 shares in the company, valued at approximately $300,466,976.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 585 shares of the stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total transaction of $305,370.00. Following the completion of the sale, the insider now owns 38,398 shares in the company, valued at $20,043,756. The disclosure for this sale can be found here. Insiders sold 251,905 shares of company stock valued at $123,528,726 in the last three months. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Up 4.6 %

NASDAQ:META traded up $23.57 on Friday, hitting $533.53. The stock had a trading volume of 12,760,950 shares, compared to its average volume of 16,218,739. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. The stock has a market cap of $1.35 trillion, a P/E ratio of 30.28, a price-to-earnings-growth ratio of 1.32 and a beta of 1.21. Meta Platforms, Inc. has a 1 year low of $274.38 and a 1 year high of $535.67. The firm’s fifty day simple moving average is $482.42 and its two-hundred day simple moving average is $458.78.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The firm had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. Analysts predict that Meta Platforms, Inc. will post 20.15 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s dividend payout ratio is currently 11.49%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Citigroup reduced their price target on Meta Platforms from $590.00 to $550.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Robert W. Baird reduced their price objective on Meta Platforms from $525.00 to $500.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Jefferies Financial Group reduced their price objective on Meta Platforms from $585.00 to $540.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Oppenheimer reduced their price objective on Meta Platforms from $585.00 to $500.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Finally, The Goldman Sachs Group reduced their price objective on Meta Platforms from $555.00 to $500.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $511.27.

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.