Texas Capital Bancshares Inc TX Buys 437 Shares of Meta Platforms, Inc. (NASDAQ:META)

Texas Capital Bancshares Inc TX boosted its stake in Meta Platforms, Inc. (NASDAQ:META) by 44.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,429 shares of the social networking company’s stock after purchasing an additional 437 shares during the quarter. Texas Capital Bancshares Inc TX’s holdings in Meta Platforms were worth $837,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank bought a new stake in Meta Platforms in the fourth quarter worth $19,949,512,000. Proficio Capital Partners LLC grew its stake in shares of Meta Platforms by 78,471.1% in the 4th quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company’s stock worth $3,658,713,000 after buying an additional 6,240,810 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Meta Platforms in the 4th quarter worth about $2,243,603,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Meta Platforms by 27.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 8,901,521 shares of the social networking company’s stock valued at $5,211,967,000 after acquiring an additional 1,892,509 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Meta Platforms by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company’s stock worth $111,948,344,000 after acquiring an additional 1,502,553 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling

In other news, COO Javier Olivan sold 608 shares of the business’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $488.18, for a total value of $296,813.44. Following the completion of the transaction, the chief operating officer now owns 5,622 shares of the company’s stock, valued at $2,744,547.96. The trade was a 9.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Andrew Bosworth sold 5,060 shares of the company’s stock in a transaction that occurred on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total value of $3,727,550.20. Following the completion of the sale, the chief technology officer now owns 5,139 shares in the company, valued at approximately $3,785,747.13. This represents a 49.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 487,453 shares of company stock valued at $326,680,904 over the last 90 days. Insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. BMO Capital Markets upped their price objective on Meta Platforms from $530.00 to $610.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $790.00 price target on shares of Meta Platforms in a research report on Wednesday, April 2nd. Pivotal Research boosted their price objective on shares of Meta Platforms from $800.00 to $875.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Wells Fargo & Company raised their target price on shares of Meta Platforms from $685.00 to $752.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Finally, Royal Bank of Canada upped their price target on shares of Meta Platforms from $700.00 to $800.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $704.62.

Meta Platforms Trading Down 6.7 %

Shares of NASDAQ:META opened at $546.29 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The firm has a market capitalization of $1.38 trillion, a P/E ratio of 22.84, a P/E/G ratio of 1.42 and a beta of 1.28. The business’s 50-day moving average is $631.56 and its 200 day moving average is $609.28. Meta Platforms, Inc. has a 1 year low of $414.50 and a 1 year high of $740.91.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 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 quarter in the prior year, the company earned $5.33 earnings per share. On average, research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were paid 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 0.38%. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio 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.