OFI Invest Asset Management Has $92.63 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

OFI Invest Asset Management lowered its holdings in Meta Platforms, Inc. (NASDAQ:META) by 14.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 196,883 shares of the social networking company’s stock after selling 32,508 shares during the quarter. Meta Platforms comprises about 2.5% of OFI Invest Asset Management’s investment portfolio, making the stock its 7th largest position. OFI Invest Asset Management’s holdings in Meta Platforms were worth $92,626,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in META. Delos Wealth Advisors LLC raised its position in Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after purchasing an additional 58 shares during the last quarter. Ruedi Wealth Management Inc. lifted its position in Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 44 shares during the period. Richardson Financial Services Inc. boosted its stake in shares of Meta Platforms by 95.6% in the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after purchasing an additional 43 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Meta Platforms during the 4th quarter worth approximately $32,000. Finally, Kathleen S. Wright Associates Inc. bought a new stake in shares of Meta Platforms during the first quarter worth approximately $44,000. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Down 1.8 %

META stock opened at $527.42 on Monday. Meta Platforms, Inc. has a twelve month low of $274.38 and a twelve month high of $542.81. The company has a market cap of $1.34 trillion, a price-to-earnings ratio of 30.29, a P/E/G ratio of 1.27 and a beta of 1.21. The company has a quick ratio of 2.68, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The business has a 50 day moving average price of $500.48 and a two-hundred day moving average price of $488.50.

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

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were given a $0.50 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.38%. Meta Platforms’s payout ratio is 11.49%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on META shares. Wells Fargo & Company raised their price objective on shares of Meta Platforms from $625.00 to $647.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Raymond James lifted their price objective on Meta Platforms from $550.00 to $600.00 and gave the stock a “strong-buy” rating in a research note on Monday, July 1st. TD Securities increased their target price on Meta Platforms from $530.00 to $600.00 in a research note on Wednesday, July 10th. JMP Securities restated a “market outperform” rating and set a $525.00 target price on shares of Meta Platforms in a research report on Tuesday, July 30th. Finally, The Goldman Sachs Group increased their price target on shares of Meta Platforms from $522.00 to $555.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-three have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $574.41.

Insider Transactions at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $451.15, for a total transaction of $406,486.15. Following the completion of the sale, the insider now owns 33,324 shares of the company’s stock, valued at approximately $15,034,122.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Javier Olivan sold 412 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $472.70, for a total value of $194,752.40. Following the transaction, the chief operating officer now owns 15,376 shares of the company’s stock, valued at $7,268,235.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer Newstead sold 901 shares of Meta Platforms stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $451.15, for a total value of $406,486.15. Following the sale, the insider now directly owns 33,324 shares of the company’s stock, valued at $15,034,122.60. The disclosure for this sale can be found here. In the last three months, insiders sold 349,174 shares of company stock worth $175,146,777. 13.71% of the stock is owned by company insiders.

Meta Platforms Company 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.