SilverOak Wealth Management LLC lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 10.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,175 shares of the social networking company's stock after purchasing an additional 510 shares during the quarter. Meta Platforms comprises about 0.6% of SilverOak Wealth Management LLC's investment portfolio, making the stock its 21st biggest position. SilverOak Wealth Management LLC's holdings in Meta Platforms were worth $2,983,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Inlight Wealth Management LLC acquired a new stake in shares of Meta Platforms during the first quarter worth $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Meta Platforms during the first quarter worth $28,000. Millstone Evans Group LLC acquired a new stake in shares of Meta Platforms during the fourth quarter worth $40,000. WealthTrak Capital Management LLC acquired a new stake in shares of Meta Platforms during the fourth quarter worth $43,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Meta Platforms during the fourth quarter worth $45,000. Institutional investors and hedge funds own 79.91% of the company's stock.
Meta Platforms Stock Down 1.3%
Shares of Meta Platforms stock traded down $9.73 during trading hours on Friday, hitting $717.51. 10,855,962 shares of the company's stock traded hands, compared to its average volume of 14,460,014. The stock has a 50 day simple moving average of $674.77 and a 200-day simple moving average of $634.35. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16. The company has a market cap of $1.80 trillion, a PE ratio of 27.98, a PEG ratio of 1.76 and a beta of 1.28. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $747.90.
Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. The business had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The company's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period last year, the firm earned $4.71 earnings per share. Equities research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.
Meta Platforms Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were paid a $0.525 dividend. The ex-dividend date was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.29%. Meta Platforms's dividend payout ratio (DPR) is 8.19%.
Insider Buying and Selling
In related news, CTO Andrew Bosworth sold 22,449 shares of Meta Platforms stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $636.85, for a total value of $14,296,645.65. Following the completion of the transaction, the chief technology officer directly owned 1,183 shares in the company, valued at approximately $753,393.55. This trade represents a 94.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $4,532,440.64. Following the completion of the transaction, the chief financial officer owned 70,040 shares of the company's stock, valued at $46,181,574.40. This trade represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 153,792 shares of company stock worth $105,466,325. Corporate insiders own 13.61% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on META shares. Bank of America raised their price objective on Meta Platforms from $690.00 to $765.00 and gave the stock a "buy" rating in a report on Thursday. Susquehanna reduced their target price on Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock in a report on Thursday, May 1st. Wedbush lifted their target price on Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. The Goldman Sachs Group lifted their target price on Meta Platforms from $685.00 to $690.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Finally, Stifel Nicolaus lifted their target price on Meta Platforms from $628.00 to $655.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Five research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $729.38.
Read Our Latest Analysis on META
About Meta Platforms
(
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.
Read More

Before you consider Meta Platforms, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Meta Platforms wasn't on the list.
While Meta Platforms currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Need to stretch out your 401K or Roth IRA plan? Use these time-tested investing strategies to grow the monthly retirement income that your stock portfolio generates.
Get This Free Report