Oakworth Capital Inc. Purchases 89 Shares of Meta Platforms, Inc. (NASDAQ:META)

Oakworth Capital Inc. increased its position in Meta Platforms, Inc. (NASDAQ:META) by 18.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 560 shares of the social networking company’s stock after buying an additional 89 shares during the quarter. Oakworth Capital Inc.’s holdings in Meta Platforms were worth $282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in META. Norges Bank bought a new stake in shares of Meta Platforms in the 4th quarter valued at about $11,285,855,000. Capital Research Global Investors lifted its stake in shares of Meta Platforms by 17.2% in the fourth quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock worth $10,695,722,000 after acquiring an additional 4,440,229 shares during the period. Concentrum Wealth Management boosted its holdings in Meta Platforms by 111.0% in the fourth quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock valued at $2,616,000 after acquiring an additional 3,888,308 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Meta Platforms by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock valued at $65,960,215,000 after acquiring an additional 3,104,550 shares during the last quarter. Finally, Jennison Associates LLC increased its position in Meta Platforms by 24.7% during the 1st quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock valued at $6,733,731,000 after purchasing an additional 2,748,620 shares during the period. Institutional investors own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In related news, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $514.89, for a total transaction of $8,599,692.78. Following the completion of the sale, the chief executive officer now owns 89,927 shares in the company, valued at $46,302,513.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $514.89, for a total transaction of $8,599,692.78. Following the completion of the transaction, the chief executive officer now directly owns 89,927 shares of the company’s stock, valued at approximately $46,302,513.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peggy Alford sold 1,052 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $479.00, for a total transaction of $503,908.00. Following the sale, the director now owns 6,168 shares of the company’s stock, valued at approximately $2,954,472. The disclosure for this sale can be found here. Insiders have sold 349,174 shares of company stock worth $175,146,777 in the last ninety days. Company insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

META has been the topic of a number of recent analyst reports. Loop Capital boosted their price target on shares of Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Rosenblatt Securities upped their price target on shares of Meta Platforms from $562.00 to $643.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Piper Sandler increased their price target on Meta Platforms from $545.00 to $575.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Wedbush reissued an “outperform” rating and issued a $570.00 price objective on shares of Meta Platforms in a research note on Wednesday, July 24th. Finally, Evercore ISI raised their target price on Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-three have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average target price of $574.41.

Meta Platforms Trading Down 1.8 %

NASDAQ:META opened at $527.42 on Monday. Meta Platforms, Inc. has a 52 week low of $274.38 and a 52 week high of $542.81. The firm has a 50-day moving average price of $500.48 and a two-hundred day moving average price of $488.50. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.83. The firm has a market cap of $1.34 trillion, a price-to-earnings ratio of 30.29, a price-to-earnings-growth ratio of 1.27 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. Meta Platforms’s revenue was up 22.1% on a year-over-year basis. During the same period last year, the business posted $3.23 earnings per share. On average, equities analysts expect that Meta Platforms, Inc. will post 20.5 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.38%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s dividend payout ratio is presently 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.