Oakridge Investments LLC increased its holdings in Meta Platforms, Inc. (NASDAQ:META – free report) by 4.1% during the first quarter, according to its latest filing with the SEC. The fund acquired an additional 2,712 shares during the period, bringing its holdings to 68,215 shares of the social networking company. Meta Platforms represents approximately 3.3% of Oakridge Investments LLC’s investment portfolio, making it its sixth-largest holding. Oakridge Investments LLC’s holdings in Meta Platforms were worth $33,124,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings in the company. Quest Partners LLC acquired a new stake in Meta Platforms in the fourth quarter valued at $32,000. Kathleen S. Wright Associates Inc. acquired a new stake in Meta Platforms in the first quarter valued at $44,000. Clear Investment Research LLC increased its holdings in Meta Platforms by 411.1% in the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 74 shares during the period. Gilfoyle & Co LLC acquired a new stake in Meta Platforms in the fourth quarter valued at $39,000. Finally, Cranbrook Wealth Management LLC increased its holdings in Meta Platforms by 80.4% in the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after purchasing an additional 45 shares during the period. 79.91% of the stock is now owned by institutional investors.
Analyst Rating Changes
META has been the subject of a number of research reports recently. Sanford C. Bernstein lowered their price target on Meta Platforms from $590.00 to $565.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Rosenblatt Securities raised their price target on Meta Platforms from $520.00 to $562.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Wedbush lowered their price target on Meta Platforms from $570.00 to $480.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Wolfe Research lowered their price target on Meta Platforms from $530.00 to $500.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Finally, Oppenheimer lowered their price target on Meta Platforms from $585.00 to $500.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have a hold rating, 37 have given a buy rating and two have given a strong buy rating. According to MarketBeat.com data, the current consensus rating for Meta Platforms is a “moderate buy” with a consensus target price of $511.27.
Check out the latest Metaplatform stock report
Metaplatform Stock Performance
Meta Platforms’ stock price rose $29.95 to $539.91 in trading on Friday. The stock’s trading volume was 21,354,093 shares, with its average trading volume being 10,314,925 shares. Meta Platforms’ one-year low was $274.38 and its one-year high was $540.87. The company’s quick ratio is 2.68, current ratio is 2.68 and debt-to-equity ratio is 0.12. The stock’s 50-day moving average is $484.36 and its 200-day moving average is $460.90. The stock’s market capitalization is $1.37 trillion, its price-to-earnings ratio is 31.01, its price-to-earnings growth ratio is 1.40 and its beta is 1.21.
Meta Platforms (NASDAQ:META – Get free report ) last released its quarterly earnings data on Wednesday, April 24th. The social networking company reported quarterly EPS of $4.71, beating the consensus estimate of $4.32 by $0.39. Meta Platforms had an ROE of 32.03% and a net margin of 32.06%. The business had quarterly revenues of $36.46 billion, beating the consensus estimate of $36.28 billion. Analysts expect Meta Platforms, Inc. to post EPS of $20.15 for the current year.
Meta Platforms announces dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were paid a dividend of $0.50 per share. The ex-dividend date for this dividend was Friday, June 14th. On an annualized basis, this equates to a dividend of $2.00 and a yield of 0.37%. Meta Platforms has a dividend payout ratio of 11.49%.
Insider Trading on Meta Platform
In other news, insider Jennifer Newsted sold 585 shares of the company’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $522.00, for a total value of $305,370.00. The transaction now allows the insider to own 38,398 shares of the company’s stock, valued at $20,043,756. The transaction was disclosed in a legal filing with the SEC, which can be viewed on the SEC’s website. In related news, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $509.10, for a total value of $8,502,988.20. The transaction now allows the insider to own 186,826 shares of the company’s stock, valued at $95,113,116.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Additionally, insider Jennifer Newsted sold 585 shares in a transaction on Tuesday, April 9th. The shares were sold at an average price of $522.00, for a total value 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 disclosure for this sale can be found here. Insiders have sold 251,905 shares of the company’s stock in the last 90 days, valued at $123,528,726. 13.71% of the stock is now owned by company insiders.
Meta Platform Company Profile
(Free report)
Meta Platforms, Inc is committed to developing products that enable people to connect and share with friends and family across mobile devices, PCs, virtual reality headsets and wearables around the world. The company operates through two segments: App Family and Reality Labs. The App Family segment offers Facebook, where people can share, discuss, discover and connect about what interests them; Instagram, a community for sharing photos, videos, private messages, feeds, stories, reels, video, live and shop; Messenger, a messaging application to connect with friends, family, communities and businesses across platforms and devices through text, voice and video calling; and WhatsApp, a messaging application used by individuals and businesses to communicate and transact privately.
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