Oak Ridge Investments LLC lifted its position in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 6.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 81,381 shares of the social networking company’s stock after purchasing an additional 4,766 shares during the period. Meta Platforms makes up about 3.7% of Oak Ridge Investments LLC’s holdings, making the stock its 5th largest holding. Oak Ridge Investments LLC’s holdings in Meta Platforms were worth $47,649,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of META. JDM Financial Group LLC acquired a new stake in Meta Platforms in the 3rd quarter valued at approximately $30,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Meta Platforms in the third quarter worth $36,000. Avondale Wealth Management acquired a new position in Meta Platforms during the 4th quarter valued at $41,000. Halpern Financial Inc. acquired a new stake in Meta Platforms in the 3rd quarter worth $46,000. Finally, West Financial Advisors LLC bought a new stake in shares of Meta Platforms in the third quarter valued at about $49,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on the company. Mizuho boosted their price objective on Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Guggenheim raised their price objective on shares of 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 price target on shares of Meta Platforms from $645.00 to $705.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Jefferies Financial Group lifted their price objective on Meta Platforms from $675.00 to $715.00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, Pivotal Research increased their target price on Meta Platforms from $780.00 to $800.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Two research 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 given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $650.05.
Insider Activity at Meta Platforms
In other Meta Platforms news, insider Nicholas Clegg sold 7,296 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $553.48, for a total value of $4,038,190.08. Following the sale, the insider now owns 38,695 shares in the company, valued at approximately $21,416,908.60. The trade was a 15.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Mark Zuckerberg sold 35,921 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $607.97, for a total transaction of $21,838,890.37. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 495,269 shares of company stock valued at $300,888,396. 13.71% of the stock is owned by corporate insiders.
Meta Platforms Stock Performance
Shares of Meta Platforms stock opened at $612.77 on Tuesday. The stock’s fifty day simple moving average is $597.37 and its 200 day simple moving average is $557.77. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $1.55 trillion, a PE ratio of 28.86, a PEG ratio of 1.22 and a beta of 1.19. Meta Platforms, Inc. has a 12 month low of $370.95 and a 12 month high of $638.40.
Meta Platforms (NASDAQ:META – Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The business had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. On average, research analysts predict that Meta Platforms, Inc. will post 22.68 EPS for the current year.
Meta Platforms Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.33%. Meta Platforms’s payout ratio is 9.42%.
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.
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