Meta Platforms, Inc. (NASDAQ:META) is Oak Ridge Investments LLC’s 7th Largest Position

Oak Ridge Investments LLC lifted its stake in Meta Platforms, Inc. (NASDAQ:META) by 4.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,368 shares of the social networking company’s stock after purchasing an additional 3,153 shares during the quarter. Meta Platforms comprises approximately 3.4% of Oak Ridge Investments LLC’s holdings, making the stock its 7th largest position. Oak Ridge Investments LLC’s holdings in Meta Platforms were worth $35,985,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. S.A. Mason LLC grew its position in Meta Platforms by 1.5% in the first quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock worth $645,000 after acquiring an additional 20 shares during the period. Horizon Bancorp Inc. IN increased its position in shares of Meta Platforms by 2.0% during the 1st quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock worth $513,000 after purchasing an additional 21 shares during the last quarter. Northern Capital Management Inc. raised its holdings in Meta Platforms by 3.4% in the 1st quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company’s stock valued at $314,000 after buying an additional 21 shares during the period. Buckingham Capital Management Inc. lifted its position in Meta Platforms by 5.1% in the second quarter. Buckingham Capital Management Inc. now owns 433 shares of the social networking company’s stock valued at $218,000 after buying an additional 21 shares during the last quarter. Finally, LongView Wealth Management boosted its stake in Meta Platforms by 1.3% during the first quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock worth $856,000 after buying an additional 22 shares during the period. Institutional investors own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on META. Morgan Stanley upped their price objective on shares of Meta Platforms from $550.00 to $575.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Oppenheimer lifted their price objective on Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. BNP Paribas assumed coverage on Meta Platforms in a report on Thursday, May 2nd. They issued an “underperform” rating and a $360.00 price objective on the stock. Bank of America lifted their target price on Meta Platforms from $550.00 to $563.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $570.00 price target on shares of Meta Platforms in a research report on Thursday, August 1st. Two 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $572.51.

Insiders Place Their Bets

In other Meta Platforms news, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $472.70, for a total value of $194,752.40. Following the transaction, the chief operating officer now owns 15,376 shares in the company, valued at approximately $7,268,235.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $528.51, for a total transaction of $8,827,174.02. Following the completion of the sale, the chief executive officer now directly owns 72,473 shares in the company, valued at $38,302,705.23. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Javier Olivan sold 412 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $472.70, for a total transaction of $194,752.40. Following the completion of the transaction, the chief operating officer now directly owns 15,376 shares in the company, valued at approximately $7,268,235.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 349,174 shares of company stock valued at $175,146,777. Insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Meta Platforms stock traded up $10.02 during trading hours on Thursday, hitting $536.78. The stock had a trading volume of 8,247,194 shares, compared to its average volume of 16,342,830. Meta Platforms, Inc. has a 1-year low of $274.38 and a 1-year high of $542.81. The stock has a market capitalization of $1.36 trillion, a price-to-earnings ratio of 30.92, a PEG ratio of 1.27 and a beta of 1.21. The stock’s fifty day moving average is $498.92 and its two-hundred day moving average is $485.97. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.68.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. During the same period in the prior year, the company earned $3.23 EPS. The firm’s revenue was up 22.1% on a year-over-year basis. As a group, analysts predict that Meta Platforms, Inc. will post 20.5 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.37%. The ex-dividend date was Friday, June 14th. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

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.