Oxinas Partners Wealth Management LLC Has $1.17 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Oxinas Partners Wealth Management LLC boosted its stake in Meta Platforms, Inc. (NASDAQ:META) by 125.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 2,322 shares of the social networking company’s stock after buying an additional 1,294 shares during the period. Oxinas Partners Wealth Management LLC’s holdings in Meta Platforms were worth $1,171,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of META. Vanguard Group Inc. raised its stake in shares of Meta Platforms by 0.4% in the first quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock valued at $90,891,055,000 after acquiring an additional 831,047 shares during the last quarter. Capital World Investors increased its holdings in Meta Platforms by 0.6% during the 1st quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock valued at $18,597,382,000 after purchasing an additional 244,803 shares in the last quarter. Capital International Investors raised its position in Meta Platforms by 3.2% in the 4th quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock valued at $12,296,383,000 after purchasing an additional 1,083,719 shares during the last quarter. Capital Research Global Investors boosted its stake in Meta Platforms by 14.5% in the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock worth $16,799,612,000 after purchasing an additional 4,379,826 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Meta Platforms during the fourth quarter worth $11,285,855,000. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $500.27 on Friday. The company has a fifty day moving average price of $505.18 and a 200 day moving average price of $494.12. The firm has a market cap of $1.27 trillion, a PE ratio of 28.73, a PEG ratio of 1.29 and a beta of 1.21. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 1-year low of $279.40 and a 1-year high of $544.23.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period in the previous year, the company posted $3.23 earnings per share. Research analysts predict that Meta Platforms, Inc. will post 21.3 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.40%. Meta Platforms’s dividend payout ratio is currently 11.49%.

Insider Activity

In related news, CFO Susan J. Li sold 33,018 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Meta Platforms news, CFO Susan J. Li sold 8,950 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $4,714,502.00. Following the completion of the transaction, the chief financial officer now directly owns 74,579 shares in the company, valued at $39,285,234.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Susan J. Li sold 33,018 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total value of $17,101,342.92. The disclosure for this sale can be found here. Insiders have sold 390,977 shares of company stock worth $202,384,548 over the last ninety days. Insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on META. Piper Sandler upped their target price on shares of Meta Platforms from $545.00 to $575.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft increased their price objective on Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Wedbush restated an “outperform” rating and set a $570.00 target price on shares of Meta Platforms in a research report on Wednesday, July 24th. Loop Capital raised their price target on Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. boosted their price objective on Meta Platforms from $480.00 to $610.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, thirty-three have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $576.66.

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.