Oak Thistle LLC Purchases Shares of 711 Meta Platforms, Inc. (NASDAQ:META)

Oak Thistle LLC purchased a new stake in Meta Platforms, Inc. (NASDAQ:META) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 711 shares of the social networking company’s stock, valued at approximately $345,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in META. S.A. Mason LLC raised its position in Meta Platforms by 1.5% during the first quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock valued at $645,000 after acquiring an additional 20 shares in the last quarter. LongView Wealth Management raised its position 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 valued at $856,000 after acquiring an additional 22 shares in the last quarter. Madison Wealth Partners Inc grew its holdings in Meta Platforms by 1.6% in the fourth quarter. Madison Wealth Partners Inc now owns 1,417 shares of the social networking company’s stock valued at $502,000 after purchasing an additional 23 shares during the period. Henrickson Nauta Wealth Advisors Inc. grew its holdings in Meta Platforms by 1.9% in the first quarter. Henrickson Nauta Wealth Advisors Inc. now owns 1,247 shares of the social networking company’s stock valued at $648,000 after purchasing an additional 23 shares during the period. Finally, Monterey Private Wealth Inc. grew its holdings in Meta Platforms by 1.8% in the first quarter. Monterey Private Wealth Inc. now owns 1,379 shares of the social networking company’s stock valued at $670,000 after purchasing an additional 24 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Meta Platforms

In related news, Director Sheryl Sandberg sold 105,000 shares of the business’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total value of $50,054,550.00. Following the sale, the director now owns 630,293 shares in the company, valued at approximately $300,466,976.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Sheryl Sandberg sold 105,000 shares of the business’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total value of $50,054,550.00. Following the sale, the director now owns 630,293 shares in the company, valued at approximately $300,466,976.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Andrew Bosworth sold 5,058 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total value of $2,386,617.30. Following the completion of the sale, the chief technology officer now owns 15,412 shares in the company, valued at approximately $7,272,152.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 218,086 shares of company stock worth $106,423,370. 13.71% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have commented on the company. Truist Financial dropped their price objective on Meta Platforms from $550.00 to $535.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Roth Mkm raised their price objective on Meta Platforms from $500.00 to $510.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Canaccord Genuity Group dropped their price objective on Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a report on Monday. Finally, UBS Group lowered their price target on Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $511.27.

Meta Platforms Price Performance

NASDAQ:META opened at $509.50 on Wednesday. Meta Platforms, Inc. has a 52 week low of $274.38 and a 52 week high of $531.49. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $1.29 trillion, a P/E ratio of 29.26, a P/E/G ratio of 1.31 and a beta of 1.21. The stock’s fifty day moving average is $480.72 and its two-hundred day moving average is $458.05.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The company had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. Equities analysts expect that Meta Platforms, Inc. will post 20.16 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were issued a $0.50 dividend. The ex-dividend date was Friday, June 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.39%. Meta Platforms’s dividend payout ratio is presently 11.49%.

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.