Oakwell Private Wealth Management LLC Purchases Shares of 518 Meta Platforms, Inc. (NASDAQ:META)

Key Points

• Oakwell Private Wealth Management LLC has purchased 518 shares of Meta Platforms, Inc., approximately valued at $299,000, as reported in their recent Form 13F filing.
• Insider sales were reported, with Director Robert M. Kimmitt selling 465 shares and CEO Mark Zuckerberg selling 2,361 shares, indicating significant activity among company executives.
• Meta Platforms' stock currently has a market capitalization of $1.79 trillion and is projected to achieve an average price target of $752.33 from analysts, with many giving it a “Moderate Buy” rating.

Oakwell Private Wealth Management LLC bought a new position in Meta Platforms, Inc. (NASDAQ:META - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 518 shares of the social networking company's stock, valued at approximately $299,000.

A number of other institutional investors have also added to or reduced their stakes in META. Csenge Advisory Group grew its position in Meta Platforms by 12.0% during the 1st quarter. Csenge Advisory Group now owns 9,539 shares of the social networking company's stock worth $5,498,000 after acquiring an additional 1,019 shares during the last quarter. Suvretta Capital Management LLC grew its position in Meta Platforms by 1.1% during the 4th quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company's stock worth $99,735,000 after acquiring an additional 1,850 shares during the last quarter. Skye Global Management LP grew its position in Meta Platforms by 130.9% during the 4th quarter. Skye Global Management LP now owns 76,200 shares of the social networking company's stock worth $44,616,000 after acquiring an additional 43,200 shares during the last quarter. ARQ Wealth Advisors LLC grew its position in Meta Platforms by 4.5% during the 1st quarter. ARQ Wealth Advisors LLC now owns 785 shares of the social networking company's stock worth $452,000 after acquiring an additional 34 shares during the last quarter. Finally, JMG Financial Group Ltd. bought a new position in Meta Platforms during the 1st quarter worth approximately $284,000. 79.91% of the stock is currently owned by institutional investors.

Insider Transactions at Meta Platforms

In related news, COO Javier Olivan sold 517 shares of Meta Platforms stock in a transaction on Monday, July 21st. The stock was sold at an average price of $706.41, for a total value of $365,213.97. Following the completion of the sale, the chief operating officer owned 6,302 shares of the company's stock, valued at $4,451,795.82. The trade was a 7.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Mark Zuckerberg sold 2,361 shares of the business's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $716.48, for a total value of $1,691,609.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 151,944 shares of company stock worth $104,965,570. 13.61% of the stock is currently owned by insiders.

Meta Platforms Stock Performance

Shares of META traded down $6.16 during trading hours on Tuesday, hitting $711.47. The stock had a trading volume of 3,558,057 shares, compared to its average volume of 15,318,961. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66. Meta Platforms, Inc. has a 12 month low of $450.80 and a 12 month high of $747.90. The firm has a market capitalization of $1.79 trillion, a PE ratio of 27.78, a PEG ratio of 1.71 and a beta of 1.28. The stock has a fifty day moving average price of $694.03 and a 200 day moving average price of $642.71.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The company had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. During the same quarter in the previous year, the company posted $4.71 earnings per share. Meta Platforms's revenue was up 16.1% compared to the same quarter last year. Analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.30%. The ex-dividend date was Monday, June 16th. Meta Platforms's payout ratio is currently 8.19%.

Wall Street Analyst Weigh In

META has been the topic of several recent research reports. Robert W. Baird raised their price target on Meta Platforms from $635.00 to $740.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Rosenblatt Securities raised their price target on Meta Platforms from $846.00 to $918.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Guggenheim reiterated a "buy" rating and issued a $800.00 price objective (up previously from $725.00) on shares of Meta Platforms in a report on Monday. JPMorgan Chase & Co. increased their price objective on Meta Platforms from $735.00 to $795.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $808.00 price objective (up previously from $650.00) on shares of Meta Platforms in a report on Friday, June 27th. Five investment analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $754.07.

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.