Bokf Na Cuts Position in Meta Platforms, Inc. (NASDAQ:META)

BOKF NA lessened its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 1.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,281 shares of the social networking company's stock after selling 1,122 shares during the quarter. Meta Platforms makes up approximately 1.0% of BOKF NA's investment portfolio, making the stock its 20th largest position. BOKF NA's holdings in Meta Platforms were worth $56,832,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Bridgeway Capital Management LLC grew its stake in Meta Platforms by 1.3% during the fourth quarter. Bridgeway Capital Management LLC now owns 60,193 shares of the social networking company's stock worth $35,243,000 after purchasing an additional 800 shares during the period. Blue Capital Inc. purchased a new stake in Meta Platforms in the fourth quarter worth $1,039,000. Bowie Capital Management LLC raised its position in shares of Meta Platforms by 4.5% in the fourth quarter. Bowie Capital Management LLC now owns 175,214 shares of the social networking company's stock valued at $102,590,000 after purchasing an additional 7,467 shares during the period. Cantor Fitzgerald L. P. grew its holdings in Meta Platforms by 1,395.5% during the 4th quarter. Cantor Fitzgerald L. P. now owns 11,321 shares of the social networking company's stock valued at $6,629,000 after buying an additional 10,564 shares in the last quarter. Finally, Captrust Financial Advisors boosted its holdings in Meta Platforms by 7.8% in the 4th quarter. Captrust Financial Advisors now owns 481,382 shares of the social networking company's stock valued at $281,854,000 after purchasing an additional 34,935 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Jennifer Newstead sold 921 shares of the firm's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $545.17, for a total transaction of $502,101.57. Following the transaction, the insider now owns 26,577 shares in the company, valued at approximately $14,488,983.09. This trade represents a 3.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Javier Olivan sold 4,706 shares of the company's stock in a transaction dated Saturday, February 15th. The stock was sold at an average price of $736.67, for a total transaction of $3,466,769.02. Following the completion of the sale, the chief operating officer now directly owns 20,935 shares of the company's stock, valued at approximately $15,422,186.45. This trade represents a 18.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 210,357 shares of company stock worth $148,449,468. 13.71% of the stock is currently owned by insiders.

Meta Platforms Price Performance

Shares of Meta Platforms stock traded up $9.83 on Wednesday, hitting $597.14. 13,134,064 shares of the company traded hands, compared to its average volume of 14,435,033. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91. The business has a 50-day simple moving average of $570.96 and a 200 day simple moving average of $603.99. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The stock has a market capitalization of $1.51 trillion, a P/E ratio of 24.96, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings data 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. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The business had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter in the prior year, the firm earned $4.71 EPS. The business's revenue was up 16.1% on a year-over-year basis. Research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were paid a $0.525 dividend. This is an increase from Meta Platforms's previous quarterly dividend of $0.50. The ex-dividend date was Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a yield of 0.35%. Meta Platforms's payout ratio is presently 8.19%.

Analyst Ratings Changes

A number of equities analysts have recently commented on META shares. Jefferies Financial Group decreased their price target on shares of Meta Platforms from $725.00 to $600.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Rosenblatt Securities increased their price objective on Meta Platforms from $846.00 to $918.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Susquehanna decreased their price target on shares of Meta Platforms from $800.00 to $700.00 and set a "positive" rating for the company in a research note on Thursday, May 1st. Oppenheimer raised their price objective on Meta Platforms from $650.00 to $665.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Finally, UBS Group upped their price target on Meta Platforms from $650.00 to $683.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $696.45.

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.