Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Oak Harbor Wealth Partners LLC

Oak Harbor Wealth Partners LLC boosted its stake in Meta Platforms, Inc. (NASDAQ:META) by 1.6% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,910 shares of the social networking company’s stock after buying an additional 31 shares during the quarter. Oak Harbor Wealth Partners LLC’s holdings in Meta Platforms were worth $963,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Baird Financial Group Inc. grew its stake in Meta Platforms by 24.2% in the 4th quarter. Baird Financial Group Inc. now owns 835,972 shares of the social networking company’s stock worth $295,901,000 after acquiring an additional 163,067 shares during the period. California State Teachers Retirement System grew its position in shares of Meta Platforms by 1.5% in the fourth quarter. California State Teachers Retirement System now owns 3,576,285 shares of the social networking company’s stock valued at $1,265,862,000 after purchasing an additional 51,900 shares during the period. Donoghue Forlines LLC increased its stake in Meta Platforms by 94.4% in the fourth quarter. Donoghue Forlines LLC now owns 8,349 shares of the social networking company’s stock valued at $2,955,000 after purchasing an additional 4,054 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in Meta Platforms by 7.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company’s stock worth $159,841,000 after buying an additional 32,423 shares during the period. Finally, Voyager Global Management LP lifted its position in Meta Platforms by 37.3% during the fourth quarter. Voyager Global Management LP now owns 515,000 shares of the social networking company’s stock worth $182,289,000 after buying an additional 140,000 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on META shares. Stifel Nicolaus increased their price target on shares of Meta Platforms from $550.00 to $590.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. The Goldman Sachs Group boosted their price target on Meta Platforms from $522.00 to $555.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Raymond James lifted their price objective on shares of Meta Platforms from $550.00 to $600.00 and gave the company a “strong-buy” rating in a research note on Monday, July 1st. BNP Paribas initiated coverage on shares of Meta Platforms in a report on Thursday, May 2nd. They set an “underperform” rating and a $360.00 price target for the company. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $450.00 price objective on shares of Meta Platforms in a report on Wednesday, June 12th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-three have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $574.41.

Meta Platforms Stock Performance

Shares of NASDAQ META opened at $527.42 on Friday. Meta Platforms, Inc. has a 12-month low of $274.38 and a 12-month high of $542.81. The company has a market cap of $1.34 trillion, a PE ratio of 30.29, a P/E/G ratio of 1.27 and a beta of 1.21. The stock has a 50 day simple moving average of $500.48 and a 200-day simple moving average of $487.81. The company has a current ratio of 2.83, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The firm’s quarterly revenue was up 22.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.23 EPS. On average, equities research analysts forecast that Meta Platforms, Inc. will post 20.5 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date was Friday, June 14th. Meta Platforms’s dividend payout ratio is currently 11.49%.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $467.57, for a total transaction of $423,150.85. Following the completion of the transaction, the insider now directly owns 43,275 shares of the company’s stock, valued at approximately $20,234,091.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $467.57, for a total value of $423,150.85. Following the completion of the sale, the insider now directly owns 43,275 shares of the company’s stock, valued at approximately $20,234,091.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $463.00, for a total transaction of $190,756.00. Following the completion of the transaction, the chief operating officer now directly owns 5,559 shares in the company, valued at approximately $2,573,817. The disclosure for this sale can be found here. Insiders have sold a total of 349,174 shares of company stock valued at $175,146,777 over the last quarter. Corporate insiders own 13.71% of the company’s stock.

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.