Oxinas Partners Wealth Management LLC Boosts Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Oxinas Partners Wealth Management LLC grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 54.3% in the 4th quarter, HoldingsChannel reports. The firm owned 2,673 shares of the social networking company’s stock after acquiring an additional 941 shares during the quarter. Oxinas Partners Wealth Management LLC’s holdings in Meta Platforms were worth $1,565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in META. Geode Capital Management LLC raised its position in Meta Platforms by 1.5% in the third quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock worth $27,470,870,000 after acquiring an additional 698,884 shares during the period. Jennison Associates LLC increased its stake in shares of Meta Platforms by 1.9% during the 3rd quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock worth $8,266,531,000 after purchasing an additional 263,063 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Meta Platforms by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock worth $7,915,451,000 after purchasing an additional 118,298 shares during the period. International Assets Investment Management LLC lifted its stake in Meta Platforms by 57,001.5% in the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock valued at $5,447,975,000 after purchasing an additional 9,500,444 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in Meta Platforms by 2.8% during the third quarter. Franklin Resources Inc. now owns 6,946,755 shares of the social networking company’s stock valued at $4,101,602,000 after purchasing an additional 186,728 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Stock Up 1.7 %

META opened at $647.49 on Friday. The company has a market cap of $1.63 trillion, a P/E ratio of 30.50, a P/E/G ratio of 1.18 and a beta of 1.19. Meta Platforms, Inc. has a 12 month low of $385.66 and a 12 month high of $652.00. The business’s 50-day moving average price is $601.93 and its 200-day moving average price is $560.12. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The firm had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. On average, equities analysts expect that Meta Platforms, Inc. will post 22.96 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s payout ratio is 9.42%.

Insider Buying and Selling at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $580.10, for a total transaction of $524,990.50. Following the completion of the transaction, the insider now owns 31,482 shares in the company, valued at $18,262,708.20. This represents a 2.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Susan J. Li sold 8,951 shares of Meta Platforms stock in a transaction on Friday, November 15th. The shares were sold at an average price of $577.16, for a total transaction of $5,166,159.16. Following the completion of the sale, the chief financial officer now owns 51,591 shares in the company, valued at approximately $29,776,261.56. This trade represents a 14.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 568,016 shares of company stock worth $346,031,180. 13.71% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on META. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a research note on Thursday, October 31st. Morgan Stanley upped their price objective on shares of Meta Platforms from $600.00 to $660.00 and gave the company an “overweight” rating in a report on Monday, January 13th. KeyCorp lifted their target price on shares of Meta Platforms from $655.00 to $700.00 and gave the stock an “overweight” rating in a research note on Friday, January 10th. Susquehanna upped their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “positive” rating in a research note on Thursday, October 31st. Finally, Scotiabank reduced their price objective on shares of Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating for the company in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $654.20.

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.