Oak Ridge Investments LLC Has $43.86 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

Oak Ridge Investments LLC boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 7.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 76,615 shares of the social networking company’s stock after purchasing an additional 5,247 shares during the period. Meta Platforms comprises approximately 3.8% of Oak Ridge Investments LLC’s investment portfolio, making the stock its 6th biggest position. Oak Ridge Investments LLC’s holdings in Meta Platforms were worth $43,857,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Gradient Investments LLC lifted its stake in shares of Meta Platforms by 8.9% in the 2nd quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company’s stock valued at $36,600,000 after acquiring an additional 5,953 shares during the last quarter. Baillie Gifford & Co. lifted its stake in shares of Meta Platforms by 14.0% in the 1st quarter. Baillie Gifford & Co. now owns 6,101,501 shares of the social networking company’s stock valued at $2,962,767,000 after acquiring an additional 748,076 shares during the last quarter. Stanley Laman Group Ltd. lifted its stake in shares of Meta Platforms by 26.5% in the 2nd quarter. Stanley Laman Group Ltd. now owns 1,678 shares of the social networking company’s stock valued at $846,000 after acquiring an additional 352 shares during the last quarter. Cutter & CO Brokerage Inc. lifted its stake in shares of Meta Platforms by 0.7% in the 3rd quarter. Cutter & CO Brokerage Inc. now owns 9,735 shares of the social networking company’s stock valued at $5,573,000 after acquiring an additional 65 shares during the last quarter. Finally, Lincoln National Corp lifted its stake in shares of Meta Platforms by 7.8% in the 1st quarter. Lincoln National Corp now owns 34,790 shares of the social networking company’s stock valued at $16,894,000 after acquiring an additional 2,504 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Insider Activity at Meta Platforms

In other Meta Platforms news, Director Peggy Alford sold 1,052 shares of Meta Platforms stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $479.00, for a total transaction of $503,908.00. Following the transaction, the director now owns 6,168 shares of the company’s stock, valued at $2,954,472. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Meta Platforms news, Director Peggy Alford sold 1,052 shares of Meta Platforms stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $479.00, for a total transaction of $503,908.00. Following the transaction, the director now owns 6,168 shares of the company’s stock, valued at $2,954,472. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $513.09, for a total transaction of $8,569,629.18. Following the transaction, the chief executive officer now directly owns 98,654 shares in the company, valued at approximately $50,618,380.86. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 251,092 shares of company stock valued at $132,865,496. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $567.16 on Monday. Meta Platforms, Inc. has a fifty-two week low of $308.33 and a fifty-two week high of $602.95. The stock has a market cap of $1.43 trillion, a price-to-earnings ratio of 26.72, a PEG ratio of 1.36 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.83 and a current ratio of 2.73. The firm’s 50-day simple moving average is $555.99 and its 200 day simple moving average is $513.25.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $40.21 billion. As a group, research analysts anticipate that Meta Platforms, Inc. will post 21.84 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.35%. Meta Platforms’s payout ratio is 9.42%.

Analysts Set New Price Targets

A number of research analysts have recently commented on META shares. Citigroup increased their price target on Meta Platforms from $645.00 to $705.00 and gave the company a “buy” rating in a research note on Thursday. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a research note on Thursday. Tigress Financial increased their price target on Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research note on Friday, August 16th. 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 report on Thursday, August 1st. Finally, Robert W. Baird increased their price objective on Meta Platforms from $605.00 to $630.00 and gave the company an “outperform” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $634.10.

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.