Oak Ridge Investments LLC Has $33.12 Million Position in Meta Platforms, Inc. (NASDAQ:META)
Oak Ridge Investments LLC grew its position in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 4.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 68,215 shares of the social networking company’s stock after acquiring an additional 2,712 shares during the period. Meta Platforms accounts for approximately 3.3% of Oak Ridge Investments LLC’s investment portfolio, making the stock its 6th biggest position. Oak Ridge Investments LLC’s holdings in Meta Platforms were worth $33,124,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Quest Partners LLC acquired a new stake in Meta Platforms in the fourth quarter valued at $32,000. Kathleen S. Wright Associates Inc. acquired a new stake in Meta Platforms in the first quarter valued at $44,000. Clear Investment Research LLC increased its holdings in Meta Platforms by 411.1% in the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 74 shares during the period. Gilfoyle & Co LLC acquired a new stake in Meta Platforms in the fourth quarter valued at $39,000. Finally, Cranbrook Wealth Management LLC increased its holdings in Meta Platforms by 80.4% in the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after purchasing an additional 45 shares during the period. 79.91% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
META has been the subject of a number of recent research reports. Sanford C. Bernstein decreased their price objective on Meta Platforms from $590.00 to $565.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Rosenblatt Securities increased their price target on Meta Platforms from $520.00 to $562.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Wedbush decreased their price target on Meta Platforms from $570.00 to $480.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Wolfe Research decreased their price target on Meta Platforms from $530.00 to $500.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Finally, Oppenheimer decreased their price target on Meta Platforms from $585.00 to $500.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus target price of $511.27.
Check Out Our Latest Stock Report on Meta Platforms
Meta Platforms Stock Performance
Meta Platforms stock traded up $29.95 during trading on Friday, hitting $539.91. The stock had a trading volume of 21,354,093 shares, compared to its average volume of 10,314,925. Meta Platforms, Inc. has a 1 year low of $274.38 and a 1 year high of $540.87. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The stock’s 50 day moving average is $484.36 and its two-hundred day moving average is $460.90. The stock has a market cap of $1.37 trillion, a price-to-earnings ratio of 31.01, a price-to-earnings-growth ratio of 1.40 and a beta of 1.21.
Meta Platforms (NASDAQ:META – Get Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The business had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. As a group, analysts predict that Meta Platforms, Inc. will post 20.15 EPS for the current year.
Meta Platforms Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a yield of 0.37%. Meta Platforms’s payout ratio is 11.49%.
Insider Buying and Selling at Meta Platforms
In other news, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $522.00, for a total value of $305,370.00. Following the transaction, the insider now owns 38,398 shares of the company’s stock, valued at $20,043,756. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $509.10, for a total value of $8,502,988.20. Following the transaction, the chief executive officer now owns 186,826 shares of the company’s stock, valued at $95,113,116.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 585 shares of the stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $522.00, for a total value of $305,370.00. Following the completion of the transaction, the insider now directly owns 38,398 shares in the company, valued at approximately $20,043,756. The disclosure for this sale can be found here. Insiders have sold 251,905 shares of company stock valued at $123,528,726 in the last 90 days. 13.71% of the stock is currently owned by company insiders.
Meta Platforms Company 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.
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