Oak Associates Ltd. OH Has $77.72 Million Stock Holdings in Meta Platforms, Inc. $META

Oak Associates Ltd. OH increased its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.2% during the 2nd quarter, Holdings Channel reports. The fund owned 105,296 shares of the social networking company’s stock after acquiring an additional 1,279 shares during the period. Meta Platforms comprises approximately 5.1% of Oak Associates Ltd. OH’s investment portfolio, making the stock its 4th largest position. Oak Associates Ltd. OH’s holdings in Meta Platforms were worth $77,718,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Evergreen Private Wealth LLC grew its position in Meta Platforms by 237.5% in the 2nd quarter. Evergreen Private Wealth LLC now owns 54 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 38 shares during the period. Briaud Financial Planning Inc acquired a new position in Meta Platforms during the 2nd quarter valued at about $42,000. WFA Asset Management Corp increased its holdings in Meta Platforms by 42.6% during the 2nd quarter. WFA Asset Management Corp now owns 67 shares of the social networking company’s stock worth $49,000 after purchasing an additional 20 shares in the last quarter. Maseco LLP bought a new stake in Meta Platforms during the 2nd quarter worth approximately $54,000. Finally, eCIO Inc. purchased a new stake in shares of Meta Platforms in the first quarter worth approximately $58,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Meta Platforms news, Director Robert M. Kimmitt sold 600 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $609.35, for a total transaction of $365,610.00. Following the completion of the sale, the director directly owned 7,347 shares of the company’s stock, valued at $4,476,894.45. This trade represents a 7.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Javier Olivan sold 2,610 shares of the business’s stock in a transaction on Saturday, November 15th. The stock was sold at an average price of $609.46, for a total transaction of $1,590,690.60. Following the completion of the transaction, the chief operating officer directly owned 9,784 shares in the company, valued at $5,962,956.64. This trade represents a 21.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 41,959 shares of company stock worth $26,671,107 in the last quarter. 13.61% of the stock is owned by insiders.

Meta Platforms Stock Up 3.4%

META stock opened at $661.53 on Friday. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.15. Meta Platforms, Inc. has a twelve month low of $479.80 and a twelve month high of $796.25. The business’s 50-day moving average price is $674.56 and its 200-day moving average price is $705.81. The stock has a market cap of $1.67 trillion, a P/E ratio of 29.22, a PEG ratio of 1.34 and a beta of 1.28.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, October 29th. The social networking company reported $7.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.74 by $0.51. The business had revenue of $51.24 billion during the quarter, compared to analyst estimates of $49.34 billion. Meta Platforms had a return on equity of 39.35% and a net margin of 30.89%.Meta Platforms’s revenue for the quarter was up 26.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.03 EPS. On average, equities research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Monday, December 15th will be issued a $0.525 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. Meta Platforms’s payout ratio is currently 9.28%.

Analyst Upgrades and Downgrades

META has been the topic of several analyst reports. The Goldman Sachs Group restated a “buy” rating on shares of Meta Platforms in a report on Tuesday, October 14th. UBS Group lifted their price target on shares of Meta Platforms from $900.00 to $915.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. KeyCorp dropped their target price on Meta Platforms from $905.00 to $875.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Jefferies Financial Group lowered their price target on Meta Platforms from $950.00 to $910.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. Finally, BNP Paribas Exane started coverage on shares of Meta Platforms in a report on Monday, November 24th. They issued an “outperform” rating and a $800.00 price objective for the company. Four research analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $819.43.

About Meta Platforms

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.