Silver Oak Securities Incorporated raised its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 18.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,835 shares of the social networking company's stock after buying an additional 1,383 shares during the period. Silver Oak Securities Incorporated's holdings in Meta Platforms were worth $5,095,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Valley Financial Group Inc. lifted its position in shares of Meta Platforms by 2.4% in the fourth quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock valued at $344,000 after acquiring an additional 14 shares in the last quarter. Lantern Wealth Advisors LLC raised its stake in Meta Platforms by 0.5% in the 4th quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company's stock valued at $1,743,000 after purchasing an additional 14 shares during the last quarter. Meredith Wealth Planning lifted its holdings in Meta Platforms by 0.8% in the 4th quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company's stock valued at $1,097,000 after purchasing an additional 15 shares in the last quarter. Maiden Cove Capital LLC boosted its stake in Meta Platforms by 3.2% during the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company's stock worth $282,000 after purchasing an additional 15 shares during the last quarter. Finally, Riverwater Partners LLC grew its holdings in shares of Meta Platforms by 2.7% during the fourth quarter. Riverwater Partners LLC now owns 572 shares of the social networking company's stock worth $335,000 after buying an additional 15 shares in the last quarter. Institutional investors own 79.91% of the company's stock.
Analyst Ratings Changes
META has been the topic of several research reports. Guggenheim raised their price target on shares of Meta Platforms from $675.00 to $725.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Pivotal Research decreased their target price on shares of Meta Platforms from $875.00 to $830.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Raymond James Financial lowered their target price on Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating on the stock in a report on Thursday, May 1st. Oppenheimer upped their price target on Meta Platforms from $665.00 to $775.00 and gave the company an "outperform" rating in a research report on Monday, June 16th. Finally, Barclays reduced their price objective on Meta Platforms from $705.00 to $640.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $710.00.
Check Out Our Latest Stock Report on META
Insider Activity at Meta Platforms
In other news, CEO Mark Zuckerberg sold 1,462 shares of the company's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $701.13, for a total transaction of $1,025,052.06. Following the completion of the transaction, the chief executive officer now directly owns 139,538 shares of the company's stock, valued at approximately $97,834,277.94. This represents a 1.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Javier Olivan sold 608 shares of the firm's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $614.97, for a total value of $373,901.76. Following the sale, the chief operating officer now directly owns 6,838 shares in the company, valued at $4,205,164.86. This trade represents a 8.17% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 111,031 shares of company stock valued at $73,954,565 over the last 90 days. 13.61% of the stock is owned by corporate insiders.
Meta Platforms Stock Down 1.9%
Shares of Meta Platforms stock traded down $13.42 during trading hours on Friday, reaching $682.35. 22,498,010 shares of the company were exchanged, compared to its average volume of 14,512,174. The firm has a market cap of $1.72 trillion, a PE ratio of 26.61, a PEG ratio of 1.68 and a beta of 1.26. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $740.91. The stock's fifty day moving average is $618.10 and its 200 day moving average is $623.14.
Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results 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. The firm had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. Meta Platforms's revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the previous year, the firm posted $4.71 EPS. As a group, equities research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.
Meta Platforms Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be paid a dividend of $0.525 per share. The ex-dividend date is Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.31%. Meta Platforms's payout ratio is 8.19%.
Meta Platforms Company Profile
(
Free Report)
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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