SilverOak Wealth Management LLC Has $2.66 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

SilverOak Wealth Management LLC reduced its holdings in Meta Platforms, Inc. (NASDAQ:META) by 8.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 4,654 shares of the social networking company’s stock after selling 432 shares during the period. Meta Platforms comprises approximately 0.6% of SilverOak Wealth Management LLC’s holdings, making the stock its 24th biggest position. SilverOak Wealth Management LLC’s holdings in Meta Platforms were worth $2,664,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. LS Investment Advisors LLC increased its position in Meta Platforms by 111.4% during the 3rd quarter. LS Investment Advisors LLC now owns 11,679 shares of the social networking company’s stock valued at $6,686,000 after purchasing an additional 6,155 shares during the period. Gradient Investments LLC increased its position in shares of Meta Platforms by 8.9% during the second quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company’s stock worth $36,600,000 after buying an additional 5,953 shares during the period. Cutter & CO Brokerage Inc. raised its stake in Meta Platforms by 0.7% during the third quarter. Cutter & CO Brokerage Inc. now owns 9,735 shares of the social networking company’s stock worth $5,573,000 after buying an additional 65 shares during the last quarter. Stanley Laman Group Ltd. raised its stake in Meta Platforms by 26.5% during the second quarter. Stanley Laman Group Ltd. now owns 1,678 shares of the social networking company’s stock worth $846,000 after buying an additional 352 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in Meta Platforms by 1.4% in the third quarter. Janney Montgomery Scott LLC now owns 412,046 shares of the social networking company’s stock valued at $235,872,000 after buying an additional 5,594 shares during the period. Institutional investors own 79.91% of the company’s stock.

Insider Activity

In other news, CTO Andrew Bosworth sold 5,057 shares of the firm’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 sale, the chief technology officer now owns 11,990 shares in the company, valued at approximately $6,315,852.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Meta Platforms news, CFO Susan J. Li sold 8,950 shares of Meta Platforms stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the transaction, the chief financial officer now directly owns 74,579 shares of the company’s stock, valued at approximately $39,285,234.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 directly owns 11,990 shares of the company’s stock, valued at $6,315,852.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 194,714 shares of company stock worth $103,811,069. 13.71% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

META has been the subject of several research analyst reports. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research report on Thursday, October 31st. Mizuho boosted their price target on Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Piper Sandler raised their price objective on shares of Meta Platforms from $575.00 to $650.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. 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 report on Wednesday, October 9th. Finally, Roth Mkm upped their price objective on shares of Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $634.10.

Meta Platforms Stock Up 0.3 %

META stock opened at $584.82 on Wednesday. The stock has a 50-day simple moving average of $563.02 and a two-hundred day simple moving average of $517.29. Meta Platforms, Inc. has a twelve month low of $313.66 and a twelve month high of $602.95. The firm has a market capitalization of $1.48 trillion, a PE ratio of 27.55, a PEG ratio of 1.30 and a beta of 1.22. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The business had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. On average, equities analysts predict that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.34%. Meta Platforms’s payout ratio is currently 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.