Silver Oak Securities Incorporated Purchases 651 Shares of Meta Platforms, Inc. (NASDAQ:META)

Silver Oak Securities Incorporated raised its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 11.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,279 shares of the social networking company’s stock after acquiring an additional 651 shares during the period. Silver Oak Securities Incorporated’s holdings in Meta Platforms were worth $3,505,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Moody Lynn & Lieberson LLC boosted its stake in Meta Platforms by 11.9% during the 3rd quarter. Moody Lynn & Lieberson LLC now owns 5,014 shares of the social networking company’s stock valued at $2,870,000 after purchasing an additional 532 shares during the period. West Michigan Advisors LLC lifted its holdings in shares of Meta Platforms by 4.2% during the third quarter. West Michigan Advisors LLC now owns 3,033 shares of the social networking company’s stock worth $1,736,000 after buying an additional 121 shares during the last quarter. Harbour Trust & Investment Management Co lifted its holdings in shares of Meta Platforms by 53.9% during the third quarter. Harbour Trust & Investment Management Co now owns 10,505 shares of the social networking company’s stock worth $6,013,000 after buying an additional 3,678 shares during the last quarter. Rowlandmiller & PARTNERS.ADV grew its stake in shares of Meta Platforms by 23.9% in the third quarter. Rowlandmiller & PARTNERS.ADV now owns 2,649 shares of the social networking company’s stock worth $1,517,000 after acquiring an additional 511 shares during the last quarter. Finally, Spirit of America Management Corp NY increased its position in Meta Platforms by 20.7% during the third quarter. Spirit of America Management Corp NY now owns 875 shares of the social networking company’s stock worth $501,000 after acquiring an additional 150 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Meta Platforms

In related news, CEO Mark Zuckerberg sold 492 shares of Meta Platforms stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $600.75, for a total transaction of $295,569.00. Following the transaction, the chief executive officer now owns 518,508 shares of the company’s stock, valued at $311,493,681. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Meta Platforms news, CEO Mark Zuckerberg sold 492 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $600.75, for a total value of $295,569.00. Following the sale, the chief executive officer now directly owns 518,508 shares in the company, valued at approximately $311,493,681. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Andrew Bosworth sold 5,057 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the completion of the sale, the chief technology officer now owns 11,990 shares of the company’s stock, valued at approximately $6,315,852.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 250,817 shares of company stock worth $132,547,715. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Stock Up 1.0 %

Shares of NASDAQ:META opened at $573.25 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. The stock has a market cap of $1.45 trillion, a price-to-earnings ratio of 29.26, a P/E/G ratio of 1.42 and a beta of 1.22. The company has a 50 day moving average of $551.05 and a 200-day moving average of $510.65. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $602.95.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.70 by $0.46. The company had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.23 EPS. On average, sell-side analysts forecast that Meta Platforms, Inc. will post 21.44 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is currently 10.21%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on META. KeyCorp raised their price target on shares of Meta Platforms from $560.00 to $655.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Stifel Nicolaus boosted their price target on Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Rosenblatt Securities upped their price target on Meta Platforms from $643.00 to $811.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a report on Wednesday, September 4th. Finally, UBS Group upped their target price on Meta Platforms from $635.00 to $690.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $621.63.

Meta Platforms Company 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.