Oak Ridge Investments LLC Has $47.65 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

Oak Ridge Investments LLC increased its stake in Meta Platforms, Inc. (NASDAQ:META) by 6.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 81,381 shares of the social networking company’s stock after purchasing an additional 4,766 shares during the period. Meta Platforms accounts for 3.7% of Oak Ridge Investments LLC’s portfolio, making the stock its 5th largest position. Oak Ridge Investments LLC’s holdings in Meta Platforms were worth $47,649,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. JDM Financial Group LLC bought a new stake in Meta Platforms in the third quarter valued at $30,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Meta Platforms in the 3rd quarter worth about $36,000. Avondale Wealth Management bought a new stake in Meta Platforms in the 4th quarter valued at about $41,000. Halpern Financial Inc. acquired a new position in Meta Platforms during the 3rd quarter valued at about $46,000. Finally, West Financial Advisors LLC bought a new position in Meta Platforms in the 3rd quarter worth about $49,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insiders Place Their Bets

In related news, insider Nicholas Clegg sold 7,296 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $553.48, for a total value of $4,038,190.08. Following the transaction, the insider now owns 38,695 shares in the company, valued at approximately $21,416,908.60. This represents a 15.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Aaron Anderson sold 731 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $557.00, for a total transaction of $407,167.00. Following the transaction, the chief accounting officer now directly owns 3,414 shares in the company, valued at approximately $1,901,598. The trade was a 17.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 495,269 shares of company stock valued at $300,888,396 in the last three months. Insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

META has been the topic of several analyst reports. Bank of America raised their target price on Meta Platforms from $630.00 to $660.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. UBS Group raised their price target on Meta Platforms from $690.00 to $719.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $811.00 price objective on shares of Meta Platforms in a report on Thursday, October 31st. Jefferies Financial Group raised their target price on shares of Meta Platforms from $675.00 to $715.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, Roth Mkm upped their price target on shares of Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $650.05.

Meta Platforms Stock Performance

META stock opened at $612.77 on Tuesday. The firm has a 50 day simple moving average of $597.37 and a 200 day simple moving average of $557.77. Meta Platforms, Inc. has a 52 week low of $370.95 and a 52 week high of $638.40. The stock has a market cap of $1.55 trillion, a P/E ratio of 28.86, a P/E/G ratio of 1.22 and a beta of 1.19. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating 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 company had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. Research analysts anticipate that Meta Platforms, Inc. will post 22.68 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.33%. Meta Platforms’s dividend payout ratio (DPR) is currently 9.42%.

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.