Oak Harbor Wealth Partners LLC Has $1.11 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Oak Harbor Wealth Partners LLC raised its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,944 shares of the social networking company’s stock after buying an additional 34 shares during the period. Oak Harbor Wealth Partners LLC’s holdings in Meta Platforms were worth $1,113,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. China Universal Asset Management Co. Ltd. lifted its position in Meta Platforms by 48.8% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 49,191 shares of the social networking company’s stock worth $23,886,000 after acquiring an additional 16,138 shares during the last quarter. Empowered Funds LLC lifted its position in shares of Meta Platforms by 22.4% during the 1st quarter. Empowered Funds LLC now owns 67,195 shares of the social networking company’s stock worth $32,629,000 after purchasing an additional 12,301 shares during the last quarter. Cypress Asset Management Inc. TX lifted its position in shares of Meta Platforms by 541.8% during the 1st quarter. Cypress Asset Management Inc. TX now owns 3,819 shares of the social networking company’s stock worth $1,862,000 after purchasing an additional 3,224 shares during the last quarter. First Foundation Advisors grew its holdings in Meta Platforms by 2.4% in the 1st quarter. First Foundation Advisors now owns 20,020 shares of the social networking company’s stock valued at $9,722,000 after buying an additional 472 shares during the last quarter. Finally, Councilmark Asset Management LLC bought a new position in Meta Platforms in the 1st quarter worth approximately $1,456,000. 79.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

META has been the subject of several research reports. Scotiabank reduced their price objective on Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating for the company in a research report on Thursday, October 31st. Rosenblatt Securities reissued a “buy” rating and issued a $811.00 price target on shares of Meta Platforms in a report on Thursday, October 31st. Raymond James boosted their price objective on shares of Meta Platforms from $600.00 to $650.00 and gave the stock a “strong-buy” rating in a report on Thursday, October 10th. Roth Mkm increased their target price on shares of Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Loop Capital boosted their price target on Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus target price of $634.10.

Insider Activity at Meta Platforms

In related news, CFO Susan J. Li sold 33,018 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 492 shares of Meta Platforms stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $600.75, for a total transaction of $295,569.00. Following the transaction, the chief executive officer now directly owns 518,508 shares in the company, valued at $311,493,681. The trade was a 0.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 141,498 shares of company stock worth $75,732,154. 13.71% of the stock is owned by insiders.

Meta Platforms Stock Performance

Shares of NASDAQ:META opened at $554.08 on Monday. The stock has a market capitalization of $1.40 trillion, a P/E ratio of 26.10, a P/E/G ratio of 1.23 and a beta of 1.22. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 1-year low of $313.66 and a 1-year high of $602.95. The business has a 50-day moving average price of $568.11 and a two-hundred day moving average price of $521.17.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The business had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Equities analysts predict that Meta Platforms, Inc. will post 22.53 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.36%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

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.