Oak Thistle LLC Makes New $3.13 Million Investment in Meta Platforms, Inc. $META

Oak Thistle LLC acquired a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 4,267 shares of the social networking company’s stock, valued at approximately $3,134,000.

Other hedge funds also recently made changes to their positions in the company. Bare Financial Services Inc purchased a new stake in Meta Platforms during the second quarter valued at about $30,000. Evergreen Private Wealth LLC boosted its holdings in shares of Meta Platforms by 237.5% in the 2nd quarter. Evergreen Private Wealth LLC now owns 54 shares of the social networking company’s stock worth $40,000 after purchasing an additional 38 shares in the last quarter. Briaud Financial Planning Inc bought a new position in shares of Meta Platforms during the 2nd quarter valued at about $42,000. Knuff & Co LLC purchased a new position in shares of Meta Platforms during the 2nd quarter valued at about $44,000. Finally, WFA Asset Management Corp lifted its position in Meta Platforms by 42.6% in the 2nd quarter. WFA Asset Management Corp now owns 67 shares of the social networking company’s stock worth $49,000 after buying an additional 20 shares during the last quarter. 79.91% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, COO Javier Olivan sold 517 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $646.00, for a total transaction of $333,982.00. Following the transaction, the chief operating officer directly owned 13,234 shares of the company’s stock, valued at approximately $8,549,164. The trade was a 3.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert M. Kimmitt sold 580 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $646.00, for a total value of $374,680.00. Following the transaction, the director owned 6,167 shares of the company’s stock, valued at approximately $3,983,882. This represents a 8.60% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 41,555 shares of company stock worth $26,144,862. Corporate insiders own 13.61% of the company’s stock.

Meta Platforms Price Performance

Shares of Meta Platforms stock opened at $649.50 on Thursday. The company’s fifty day simple moving average is $662.07 and its two-hundred day simple moving average is $707.40. Meta Platforms, Inc. has a 12-month low of $479.80 and a 12-month high of $796.25. The firm has a market cap of $1.64 trillion, a PE ratio of 28.69, a price-to-earnings-growth ratio of 1.38 and a beta of 1.28. 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 (NASDAQ:META) last issued its quarterly earnings data on Wednesday, October 29th. The social networking company reported $7.25 EPS for the quarter, beating the consensus estimate of $6.74 by $0.51. The firm had revenue of $51.24 billion during the quarter, compared to the consensus estimate of $49.34 billion. Meta Platforms had a net margin of 30.89% and a return on equity of 39.35%. The company’s quarterly revenue was up 26.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.03 earnings per share. As a group, equities analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have commented on META shares. JPMorgan Chase & Co. reduced their price target on shares of Meta Platforms from $875.00 to $800.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Oppenheimer cut shares of Meta Platforms from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of Meta Platforms in a report on Thursday, October 30th. Wells Fargo & Company decreased their target price on shares of Meta Platforms from $837.00 to $802.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Finally, Barclays lowered their price target on shares of Meta Platforms from $810.00 to $770.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $819.46.

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.