Oak Family Advisors LLC Decreases Position in Meta Platforms, Inc. (NASDAQ:META)

Oak Family Advisors LLC decreased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 7.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,399 shares of the social networking company’s stock after selling 114 shares during the period. Oak Family Advisors LLC’s holdings in Meta Platforms were worth $806,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of META. Fjell Capital LLC acquired a new position in shares of Meta Platforms during the fourth quarter worth about $1,836,000. Opulen Financial Group LLC purchased a new position in Meta Platforms in the fourth quarter worth approximately $325,000. Daner Wealth Management LLC acquired a new position in Meta Platforms during the 4th quarter worth approximately $334,000. Appleton Partners Inc. MA grew its holdings in Meta Platforms by 3.7% during the 4th quarter. Appleton Partners Inc. MA now owns 26,312 shares of the social networking company’s stock worth $15,406,000 after acquiring an additional 951 shares in the last quarter. Finally, Brighton Jones LLC increased its position in shares of Meta Platforms by 1.7% in the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock valued at $20,230,000 after purchasing an additional 570 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Up 1.2%

Shares of Meta Platforms stock opened at $702.40 on Wednesday. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91. The company has a market cap of $1.77 trillion, a P/E ratio of 29.36, a PEG ratio of 1.42 and a beta of 1.26. 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 firm has a fifty day moving average of $593.29 and a two-hundred day moving average of $617.09.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.33 by $1.10. The business had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The business’s revenue was up 16.1% compared to the same quarter last year. During the same period in the previous year, the business posted $4.71 earnings per share. On average, analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date is Monday, June 16th. Meta Platforms’s dividend payout ratio (DPR) is 8.19%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on META shares. JMP Securities reaffirmed a “market outperform” rating and set a $750.00 price objective on shares of Meta Platforms in a research report on Wednesday, April 30th. UBS Group raised their price target on Meta Platforms from $650.00 to $683.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Rosenblatt Securities lifted their price target on Meta Platforms from $846.00 to $918.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Barclays dropped their price objective on Meta Platforms from $705.00 to $640.00 and set an “overweight” rating on the stock in a report on Thursday, May 1st. Finally, Morgan Stanley raised their target price on Meta Platforms from $615.00 to $650.00 and gave the stock an “overweight” rating in a research report on Thursday, May 1st. One equities 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 assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $702.48.

Insider Activity

In other Meta Platforms news, COO Javier Olivan sold 608 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $607.50, for a total value of $369,360.00. Following the completion of the transaction, the chief operating officer now directly owns 7,446 shares of the company’s stock, valued at approximately $4,523,445. This trade represents a 7.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Susan J. Li sold 6,874 shares of Meta Platforms stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the sale, the chief financial officer now owns 70,040 shares of the company’s stock, valued at approximately $46,181,574.40. The trade was a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,104 shares of company stock valued at $35,270,242 in the last three months. 13.61% of the stock is currently owned by company insiders.

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.