Oak Associates Ltd. OH Grows Position in Meta Platforms, Inc. $META

Oak Associates Ltd. OH raised its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 1.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 105,296 shares of the social networking company's stock after purchasing an additional 1,279 shares during the period. Meta Platforms makes up about 5.1% of Oak Associates Ltd. OH's portfolio, making the stock its 4th largest holding. Oak Associates Ltd. OH's holdings in Meta Platforms were worth $77,718,000 as of its most recent SEC filing.

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A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Evergreen Private Wealth LLC increased its stake in Meta Platforms by 237.5% during the 2nd quarter. Evergreen Private Wealth LLC now owns 54 shares of the social networking company's stock worth $40,000 after acquiring an additional 38 shares during the period. Briaud Financial Planning Inc acquired a new stake in shares of Meta Platforms during the 2nd quarter worth $42,000. WFA Asset Management Corp grew its holdings in shares of 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 position in shares of Meta Platforms in the second quarter worth $54,000. Finally, eCIO Inc. acquired a new position in Meta Platforms in the first quarter valued at about $58,000. Institutional investors and hedge funds own 79.91% of the company's stock.

Meta Platforms Stock Performance

Meta Platforms stock opened at $661.53 on Friday. The business has a 50 day moving average of $674.56 and a 200-day moving average of $705.81. The company has a market capitalization of $1.67 trillion, a P/E ratio of 29.22, a P/E/G ratio of 1.34 and a beta of 1.28. Meta Platforms, Inc. has a 1 year low of $479.80 and a 1 year high of $796.25. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.98 and a quick ratio of 1.98.

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

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Monday, December 15th will be given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 15th. Meta Platforms's dividend payout ratio (DPR) is currently 9.28%.

Insider Activity

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In other Meta Platforms news, CTO Andrew Bosworth sold 11,690 shares of the company's stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $593.31, for a total value of $6,935,793.90. Following the sale, the chief technology officer owned 2,415 shares in the company, valued at approximately $1,432,843.65. The trade was a 82.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Javier Olivan sold 2,610 shares of the firm's stock in a transaction dated Saturday, November 15th. The stock was sold at an average price of $609.46, for a total value of $1,590,690.60. Following the transaction, the chief operating officer owned 9,784 shares of the company's stock, valued at $5,962,956.64. This trade represents a 21.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 41,959 shares of company stock worth $26,671,107. 13.61% of the stock is owned by corporate insiders.

Analyst Ratings Changes

META has been the topic of a number of analyst reports. Jefferies Financial Group reduced their price objective on shares of Meta Platforms from $950.00 to $910.00 and set a "buy" rating on the stock in a research note on Thursday, October 30th. Benchmark lowered shares of Meta Platforms from a "buy" rating to a "hold" rating in a research report on Thursday, October 30th. Erste Group Bank downgraded shares of Meta Platforms from a "buy" rating to a "hold" rating in a research report on Monday, November 10th. Needham & Company LLC restated a "hold" rating on shares of Meta Platforms in a research note on Thursday, October 30th. Finally, KeyCorp decreased their price target on Meta Platforms from $905.00 to $875.00 and set an "overweight" rating on the stock 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 eight have assigned a Hold rating to the company. According to MarketBeat, Meta Platforms has an average rating of "Moderate Buy" and an average price target of $819.43.

Get Our Latest Report on META

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.

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