SkyOak Wealth LLC Cuts Stock Position in Meta Platforms, Inc. (NASDAQ:META)

SkyOak Wealth LLC lessened its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,480 shares of the social networking company’s stock after selling 385 shares during the quarter. Meta Platforms comprises approximately 1.8% of SkyOak Wealth LLC’s portfolio, making the stock its 12th biggest position. SkyOak Wealth LLC’s holdings in Meta Platforms were worth $8,478,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of META. JDM Financial Group LLC purchased a new position in Meta Platforms in the third quarter worth $30,000. Safe Harbor Fiduciary LLC purchased a new position in Meta Platforms in the third quarter worth $36,000. Avondale Wealth Management purchased a new position in Meta Platforms in the fourth quarter worth $41,000. West Financial Advisors LLC purchased a new position in Meta Platforms in the third quarter worth $49,000. Finally, Cordant Inc. purchased a new position in Meta Platforms in the fourth quarter worth $59,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

META has been the subject of a number of research analyst reports. Royal Bank of Canada raised their price target on Meta Platforms from $700.00 to $800.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Monness Crespi & Hardt raised their price target on Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a research report on Monday, January 27th. Wolfe Research raised their price target on Meta Platforms from $670.00 to $730.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Finally, Oppenheimer raised their price target on Meta Platforms from $650.00 to $800.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus price target of $710.83.

Insiders Place Their Bets

In other news, CTO Andrew Bosworth sold 5,057 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $577.16, for a total transaction of $2,918,698.12. Following the sale, the chief technology officer now directly owns 8,565 shares of the company’s stock, valued at $4,943,375.40. The trade was a 37.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark Zuckerberg sold 35,921 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $607.97, for a total value of $21,838,890.37. The disclosure for this sale can be found here. Insiders have sold 701,146 shares of company stock worth $435,387,895 in the last three months. 13.71% of the stock is owned by insiders.

Meta Platforms Stock Performance

Shares of NASDAQ:META opened at $711.99 on Friday. The company has a market cap of $1.80 trillion, a P/E ratio of 29.77, a PEG ratio of 1.47 and a beta of 1.20. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. Meta Platforms, Inc. has a one year low of $414.50 and a one year high of $718.90. The business’s 50-day simple moving average is $624.43 and its 200 day simple moving average is $572.13.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating the consensus estimate of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same quarter in the prior year, the company posted $5.33 EPS. On average, sell-side analysts forecast that Meta Platforms, Inc. will post 25.94 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, December 16th. This represents a $2.00 annualized dividend and a yield of 0.28%. Meta Platforms’s dividend payout ratio is presently 8.36%.

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.