Oliver Luxxe Assets LLC Has $10.75 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Oliver Luxxe Assets LLC decreased its stake in Meta Platforms, Inc. (NASDAQ:META) by 30.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,140 shares of the social networking company’s stock after selling 9,653 shares during the period. Meta Platforms comprises about 2.3% of Oliver Luxxe Assets LLC’s holdings, making the stock its 2nd largest holding. Oliver Luxxe Assets LLC’s holdings in Meta Platforms were worth $10,751,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Beaird Harris Wealth Management LLC raised its stake in shares of Meta Platforms by 68.9% during the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after acquiring an additional 42 shares during the last quarter. Quest Partners LLC bought a new position in shares of Meta Platforms during the fourth quarter valued at $32,000. Clear Investment Research LLC raised its stake in shares of Meta Platforms by 411.1% during the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after acquiring an additional 74 shares during the last quarter. Cranbrook Wealth Management LLC raised its stake in shares of Meta Platforms by 80.4% during the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after acquiring an additional 45 shares during the last quarter. Finally, Gilfoyle & Co LLC bought a new position in shares of Meta Platforms during the fourth quarter valued at $39,000. Institutional investors own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In related news, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $514.96, for a total transaction of $8,600,861.92. Following the transaction, the chief executive officer now directly owns 213,007 shares of the company’s stock, valued at $109,690,084.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Sheryl Sandberg sold 105,000 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total transaction of $50,054,550.00. Following the transaction, the director now owns 630,293 shares of the company’s stock, valued at approximately $300,466,976.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $514.96, for a total value of $8,600,861.92. Following the completion of the sale, the chief executive officer now directly owns 213,007 shares of the company’s stock, valued at approximately $109,690,084.72. The disclosure for this sale can be found here. Insiders have sold 218,086 shares of company stock valued at $106,423,370 over the last ninety days. Corporate insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

META has been the subject of several analyst reports. BMO Capital Markets reaffirmed a “market perform” rating and set a $450.00 price target on shares of Meta Platforms in a research note on Wednesday, June 12th. Wells Fargo & Company dropped their price target on shares of Meta Platforms from $609.00 to $600.00 and set an “overweight” rating for the company in a research note on Wednesday, April 3rd. Wedbush dropped their price target on shares of Meta Platforms from $570.00 to $480.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. UBS Group decreased their price objective on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Finally, Robert W. Baird decreased their price objective on shares of Meta Platforms from $525.00 to $500.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $511.27.

Meta Platforms Stock Up 0.1 %

META opened at $504.68 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. The company’s 50-day moving average is $480.46 and its 200 day moving average is $456.83. Meta Platforms, Inc. has a fifty-two week low of $274.38 and a fifty-two week high of $531.49. The firm has a market capitalization of $1.28 trillion, a P/E ratio of 28.99, a PEG ratio of 1.31 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The company had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Research analysts expect that Meta Platforms, Inc. will post 20.16 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s payout ratio is currently 11.49%.

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.