Silver Oak Securities Incorporated Has $2.04 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Silver Oak Securities Incorporated cut its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 20.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,767 shares of the social networking company’s stock after selling 1,440 shares during the period. Silver Oak Securities Incorporated’s holdings in Meta Platforms were worth $2,041,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Daiwa Securities Group Inc. grew its stake in shares of Meta Platforms by 7.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company’s stock worth $159,841,000 after purchasing an additional 32,423 shares during the period. Bank of Stockton lifted its holdings in Meta Platforms by 9.2% during the fourth quarter. Bank of Stockton now owns 4,743 shares of the social networking company’s stock worth $1,819,000 after acquiring an additional 400 shares in the last quarter. Signify Wealth bought a new position in Meta Platforms during the fourth quarter worth about $228,000. Illinois Municipal Retirement Fund lifted its holdings in Meta Platforms by 1.8% during the fourth quarter. Illinois Municipal Retirement Fund now owns 223,788 shares of the social networking company’s stock worth $79,212,000 after acquiring an additional 4,025 shares in the last quarter. Finally, Investment Research & Advisory Group Inc. lifted its holdings in Meta Platforms by 1.5% during the fourth quarter. Investment Research & Advisory Group Inc. now owns 10,962 shares of the social networking company’s stock worth $3,880,000 after acquiring an additional 164 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

Shares of Meta Platforms stock traded up $1.91 on Friday, hitting $443.29. The stock had a trading volume of 32,645,619 shares, compared to its average volume of 18,233,678. Meta Platforms, Inc. has a twelve month low of $229.85 and a twelve month high of $531.49. The business’s 50 day moving average is $494.48 and its two-hundred day moving average is $405.39. The company has a quick ratio of 2.67, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The stock has a market cap of $1.13 trillion, a price-to-earnings ratio of 25.46, a price-to-earnings-growth ratio of 1.13 and a beta of 1.20.

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 the consensus estimate 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. Analysts forecast that Meta Platforms, Inc. will post 20.2 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.45%. The ex-dividend date was Wednesday, February 21st. Meta Platforms’s payout ratio is 11.49%.

Analyst Upgrades and Downgrades

META has been the topic of several recent analyst reports. Mizuho lifted their target price on Meta Platforms from $470.00 to $575.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Wolfe Research reduced their target price on Meta Platforms from $530.00 to $500.00 and set an “outperform” rating on the stock in a report on Thursday. Oppenheimer reduced their target price on Meta Platforms from $585.00 to $500.00 and set an “outperform” rating on the stock in a report on Thursday. JPMorgan Chase & Co. cut their price target on Meta Platforms from $535.00 to $480.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Canaccord Genuity Group boosted their price target on Meta Platforms from $450.00 to $540.00 and gave the company a “buy” rating in a report on Friday, February 2nd. One analyst has 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $509.18.

Insider Activity

In related news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total value of $305,370.00. Following the completion of the sale, the insider now directly owns 38,398 shares in the company, valued at $20,043,756. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total value of $305,370.00. Following the completion of the sale, the insider now directly owns 38,398 shares in the company, valued at $20,043,756. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Javier Olivan sold 6,500 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $400.00, for a total value of $2,600,000.00. Following the completion of the sale, the chief operating officer now owns 68,935 shares of the company’s stock, valued at $27,574,000. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,349,148 shares of company stock valued at $649,552,559. 13.75% of the stock is owned by insiders.

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.