Oak Family Advisors LLC Sells 1,657 Shares of Meta Platforms, Inc. (NASDAQ:META)

Oak Family Advisors LLC cut its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 21.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,180 shares of the social networking company’s stock after selling 1,657 shares during the quarter. Oak Family Advisors LLC’s holdings in Meta Platforms were worth $2,187,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Stone House Investment Management LLC grew its stake in Meta Platforms by 625.0% in the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after purchasing an additional 75 shares in the last quarter. MBM Wealth Consultants LLC bought a new position in Meta Platforms in the fourth quarter valued at approximately $26,000. Stephens Investment Management Group LLC bought a new position in Meta Platforms in the second quarter valued at approximately $30,000. Beaird Harris Wealth Management LLC grew its stake in Meta Platforms by 68.9% in the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after purchasing an additional 42 shares in the last quarter. Finally, PayPay Securities Corp grew its stake in Meta Platforms by 65.2% in the third quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 43 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Robert W. Baird raised their price target on Meta Platforms from $385.00 to $525.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Raymond James raised their price target on Meta Platforms from $450.00 to $550.00 and gave the company a “strong-buy” rating in a research note on Friday, February 2nd. Sanford C. Bernstein raised their price target on Meta Platforms from $435.00 to $535.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Barclays raised their price objective on Meta Platforms from $400.00 to $550.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Finally, Piper Sandler raised their price objective on Meta Platforms from $525.00 to $600.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and a consensus target price of $509.28.

Insider Buying and Selling

In related news, COO Javier Olivan sold 490 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $488.03, for a total transaction of $239,134.70. Following the sale, the chief operating officer now owns 79,944 shares in the company, valued at approximately $39,015,070.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 566 shares of Meta Platforms stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $385.00, for a total transaction of $217,910.00. Following the transaction, the insider now directly owns 35,286 shares of the company’s stock, valued at approximately $13,585,110. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Javier Olivan sold 490 shares of Meta Platforms stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $488.03, for a total value of $239,134.70. Following the transaction, the chief operating officer now directly owns 79,944 shares in the company, valued at $39,015,070.32. The disclosure for this sale can be found here. Insiders have sold 1,459,469 shares of company stock worth $691,726,161 in the last 90 days. Insiders own 14.03% of the company’s stock.

Meta Platforms Trading Down 0.2 %

Shares of META opened at $499.47 on Tuesday. Meta Platforms, Inc. has a 52-week low of $207.13 and a 52-week high of $531.49. The business’s fifty day moving average is $492.26 and its 200-day moving average is $394.61. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.67 and a current ratio of 2.67. The firm has a market cap of $1.27 trillion, a price-to-earnings ratio of 33.57, a PEG ratio of 1.31 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Thursday, February 1st. The social networking company reported $5.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.82 by $0.51. The company had revenue of $40.11 billion for the quarter, compared to analyst estimates of $39.12 billion. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. The company’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same quarter last year, the company posted $3.00 EPS. Equities analysts anticipate that Meta Platforms, Inc. will post 20.06 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Thursday, February 22nd were given a dividend of $0.50 per share. The ex-dividend date was Wednesday, February 21st. This represents a $2.00 dividend on an annualized basis and a yield of 0.40%. Meta Platforms’s dividend payout ratio is currently 13.42%.

Meta Platforms 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.