Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Texas Capital Bank Wealth Management Services Inc

Texas Capital Bank Wealth Management Services Inc grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 39.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,882 shares of the social networking company's stock after buying an additional 3,962 shares during the period. Texas Capital Bank Wealth Management Services Inc's holdings in Meta Platforms were worth $8,128,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Summit Financial Wealth Advisors LLC purchased a new position in Meta Platforms during the 4th quarter worth $169,000. Strategy Capital LLC lifted its position in shares of Meta Platforms by 84.0% during the 4th quarter. Strategy Capital LLC now owns 231,201 shares of the social networking company's stock valued at $135,370,000 after buying an additional 105,521 shares during the last quarter. Argent Trust Co raised its position in shares of Meta Platforms by 2.3% in the fourth quarter. Argent Trust Co now owns 53,148 shares of the social networking company's stock valued at $31,119,000 after purchasing an additional 1,176 shares during the period. First Foundation Advisors raised its stake in shares of Meta Platforms by 6.9% during the 4th quarter. First Foundation Advisors now owns 21,934 shares of the social networking company's stock valued at $12,843,000 after purchasing an additional 1,408 shares during the period. Finally, Accredited Investors Inc. increased its holdings in Meta Platforms by 2.5% during the 4th quarter. Accredited Investors Inc. now owns 3,718 shares of the social networking company's stock worth $2,177,000 after acquiring an additional 90 shares during the period. 79.91% of the stock is owned by institutional investors.

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Insider Transactions at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 55,589 shares of the company's stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $717.72, for a total transaction of $39,897,337.08. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Christopher K. Cox sold 20,000 shares of Meta Platforms stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $677.71, for a total transaction of $13,554,200.00. Following the sale, the insider now owns 308,686 shares of the company's stock, valued at $209,199,589.06. The trade was a 6.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 451,119 shares of company stock valued at $304,709,239 in the last quarter. 13.71% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on META shares. Pivotal Research boosted their price target on shares of Meta Platforms from $800.00 to $875.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. Jefferies Financial Group reduced their price objective on shares of Meta Platforms from $725.00 to $600.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Wolfe Research boosted their target price on shares of Meta Platforms from $670.00 to $730.00 and gave the company an "outperform" rating in a report on Friday, January 3rd. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $790.00 price target on shares of Meta Platforms in a research report on Wednesday, April 2nd. Finally, JMP Securities restated a "market outperform" rating and issued a $750.00 price target on shares of Meta Platforms in a research note on Monday, January 27th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms has an average rating of "Moderate Buy" and a consensus target price of $698.40.

Meta Platforms Price Performance

Shares of META stock traded down $14.08 on Monday, reaching $529.49. The company's stock had a trading volume of 8,330,641 shares, compared to its average volume of 14,752,300. 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 $1.34 trillion, a price-to-earnings ratio of 22.14, a price-to-earnings-growth ratio of 1.42 and a beta of 1.28. The stock's fifty day simple moving average is $628.35 and its 200-day simple moving average is $609.40. 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 (NASDAQ:META - Get Free Report) last released its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, topping 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 period last year, the firm posted $5.33 earnings per share. Analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were given a $0.525 dividend. The ex-dividend date was Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.40%. This is an increase from Meta Platforms's previous quarterly dividend of $0.50. Meta Platforms's payout ratio is presently 8.78%.

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.