Oak Harvest Investment Services Buys 402 Shares of Meta Platforms, Inc. (NASDAQ:META)

Oak Harvest Investment Services grew its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 13.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,329 shares of the social networking company’s stock after purchasing an additional 402 shares during the quarter. Oak Harvest Investment Services’ holdings in Meta Platforms were worth $1,906,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of META. Delos Wealth Advisors LLC grew its stake in Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after purchasing an additional 58 shares during the period. POM Investment Strategies LLC bought a new stake in shares of Meta Platforms in the 2nd quarter valued at $38,000. Ruedi Wealth Management Inc. lifted its position in shares of Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after acquiring an additional 44 shares during the period. Richardson Financial Services Inc. boosted its stake in Meta Platforms by 95.6% during the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after acquiring an additional 43 shares in the last quarter. Finally, Halpern Financial Inc. bought a new stake in Meta Platforms in the third quarter valued at $46,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Activity

In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $451.15, for a total value of $406,486.15. Following the sale, the insider now directly owns 33,324 shares in the company, valued at $15,034,122.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Meta Platforms news, CEO Mark Zuckerberg sold 420 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $600.17, for a total value of $252,071.40. Following the transaction, the chief executive officer now directly owns 518,004 shares in the company, valued at $310,890,460.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Newstead sold 901 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $451.15, for a total value of $406,486.15. Following the transaction, the insider now directly owns 33,324 shares of the company’s stock, valued at $15,034,122.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 251,993 shares of company stock worth $133,271,982. 13.71% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on META shares. Benchmark reissued a “hold” rating on shares of Meta Platforms in a research report on Thursday, July 25th. Robert W. Baird raised their price objective on Meta Platforms from $605.00 to $630.00 and gave the company an “outperform” rating in a research note on Thursday. Susquehanna upped their target price on Meta Platforms from $600.00 to $675.00 and gave the stock a “positive” rating in a research report on Thursday. Guggenheim lifted their price target on shares of Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Finally, DA Davidson started coverage on shares of Meta Platforms in a research note on Tuesday, September 10th. They set a “buy” rating and a $600.00 price target for the company. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and an average price target of $634.10.

Meta Platforms Stock Down 0.1 %

META opened at $567.16 on Friday. Meta Platforms, Inc. has a 12 month low of $308.33 and a 12 month high of $602.95. The company has a market cap of $1.43 trillion, a PE ratio of 26.72, a price-to-earnings-growth ratio of 1.36 and a beta of 1.22. The company has a current ratio of 2.73, a quick ratio of 2.83 and a debt-to-equity ratio of 0.18. The company has a 50 day moving average of $555.99 and a 200 day moving average of $513.12.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The firm had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. On average, sell-side analysts expect that Meta Platforms, Inc. will post 21.84 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s payout ratio is 9.42%.

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.