Meta Platforms, Inc. (NASDAQ:META) Stake Increased by Oak Ridge Investments LLC

Oak Ridge Investments LLC raised its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 6.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 81,381 shares of the social networking company's stock after acquiring an additional 4,766 shares during the period. Meta Platforms makes up approximately 3.7% of Oak Ridge Investments LLC's holdings, making the stock its 5th biggest position. Oak Ridge Investments LLC's holdings in Meta Platforms were worth $47,649,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. JDM Financial Group LLC purchased a new stake in Meta Platforms during the 3rd quarter valued at approximately $30,000. Safe Harbor Fiduciary LLC bought a new stake in Meta Platforms in the third quarter worth $36,000. Avondale Wealth Management bought a new stake in shares of Meta Platforms during the fourth quarter worth $41,000. Halpern Financial Inc. purchased a new stake in shares of Meta Platforms during the third quarter valued at $46,000. Finally, West Financial Advisors LLC purchased a new stake in shares of Meta Platforms during the third quarter valued at $49,000. Institutional investors own 79.91% of the company's stock.

Insider Activity at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of the business's stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $580.10, for a total value of $524,990.50. Following the transaction, the insider now owns 31,482 shares in the company, valued at $18,262,708.20. The trade was a 2.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Javier Olivan sold 413 shares of the business's stock in a transaction on Friday, October 25th. The shares were sold at an average price of $574.16, for a total transaction of $237,128.08. Following the completion of the transaction, the chief operating officer now owns 10,707 shares in the company, valued at approximately $6,147,531.12. The trade was a 3.71 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 531,190 shares of company stock worth $322,938,501. Insiders own 13.71% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Monness Crespi & Hardt lifted their price objective on Meta Platforms from $620.00 to $660.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Raymond James upped their price objective on shares of Meta Platforms from $675.00 to $725.00 and gave the company a "strong-buy" rating in a report on Tuesday. Mizuho upped their price objective on shares of Meta Platforms from $650.00 to $675.00 and gave the company an "outperform" rating in a report on Thursday, October 31st. KeyCorp upped their target price on Meta Platforms from $655.00 to $700.00 and gave the company an "overweight" rating in a research report on Friday, January 10th. Finally, Piper Sandler upped their price objective on Meta Platforms from $650.00 to $670.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $651.27.

Meta Platforms Trading Up 0.6 %

NASDAQ:META traded up $3.69 during trading hours on Tuesday, hitting $616.46. 11,584,932 shares of the stock were exchanged, compared to its average volume of 13,100,104. The company's 50 day moving average is $597.37 and its two-hundred day moving average is $557.77. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $1.56 trillion, a P/E ratio of 29.04, a price-to-earnings-growth ratio of 1.16 and a beta of 1.19. Meta Platforms, Inc. has a twelve month low of $381.16 and a twelve month high of $638.40.

Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.19 by $0.84. The firm had revenue of $40.59 billion during the quarter, compared to analysts' expectations of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 22.96 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were paid a $0.50 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.00 annualized dividend and a yield of 0.32%. Meta Platforms's dividend payout ratio (DPR) is currently 9.42%.

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.