Trust Co. of Oklahoma Acquires New Stake in Meta Platforms, Inc. (NASDAQ:META)

Trust Co. of Oklahoma bought a new position in Meta Platforms, Inc. (NASDAQ:META - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 729 shares of the social networking company's stock, valued at approximately $420,000.

Several other institutional investors have also made changes to their positions in META. Millstone Evans Group LLC purchased a new stake in Meta Platforms in the 4th quarter worth approximately $40,000. WealthTrak Capital Management LLC purchased a new stake in shares of Meta Platforms during the fourth quarter worth $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Meta Platforms during the fourth quarter valued at $45,000. Stuart Chaussee & Associates Inc. bought a new stake in shares of Meta Platforms in the 4th quarter valued at approximately $47,000. Finally, Principia Wealth Advisory LLC increased its stake in shares of Meta Platforms by 53.6% during the 1st quarter. Principia Wealth Advisory LLC now owns 86 shares of the social networking company's stock worth $50,000 after purchasing an additional 30 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Price Performance

Shares of META stock traded down $10.49 during trading hours on Friday, hitting $682.87. 9,259,272 shares of the company's stock were exchanged, compared to its average volume of 14,521,911. 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 stock has a market cap of $1.72 trillion, a price-to-earnings ratio of 28.55, a price-to-earnings-growth ratio of 1.42 and a beta of 1.26. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91. The stock's 50-day moving average is $604.07 and its 200-day moving average is $619.26.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating the consensus estimate of $5.33 by $1.10. The business had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. Meta Platforms's revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.71 earnings per share. As a group, research analysts forecast 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 will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be issued a dividend of $0.525 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.31%. Meta Platforms's dividend payout ratio is currently 8.19%.

Insider Activity at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 6,874 shares of Meta Platforms stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the transaction, the chief financial officer now directly owns 70,040 shares in the company, valued at approximately $46,181,574.40. The trade was a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Mark Zuckerberg sold 1,462 shares of the stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $701.13, for a total value of $1,025,052.06. Following the completion of the sale, the chief executive officer now owns 139,538 shares of the company's stock, valued at $97,834,277.94. This trade represents a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 86,201 shares of company stock worth $56,377,837 over the last ninety days. Company insiders own 13.61% of the company's stock.

Analyst Upgrades and Downgrades

META has been the topic of a number of analyst reports. Truist Financial increased their price objective on Meta Platforms from $700.00 to $720.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Moffett Nathanson increased their price target on Meta Platforms from $525.00 to $605.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Roth Capital boosted their price objective on shares of Meta Platforms from $580.00 to $620.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. UBS Group upped their price objective on shares of Meta Platforms from $650.00 to $683.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Finally, Guggenheim lifted their target price on shares of Meta Platforms from $675.00 to $725.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $704.26.

Meta Platforms Company 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.