Oliver Luxxe Assets LLC Sells 310 Shares of Meta Platforms, Inc. (NASDAQ:META)

Oliver Luxxe Assets LLC lessened its stake in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 1.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,793 shares of the social networking company’s stock after selling 310 shares during the quarter. Meta Platforms comprises approximately 2.6% of Oliver Luxxe Assets LLC’s investment portfolio, making the stock its 2nd biggest holding. Oliver Luxxe Assets LLC’s holdings in Meta Platforms were worth $11,254,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Meta Platforms by 1.0% in the third quarter. Vanguard Group Inc. now owns 183,244,796 shares of the social networking company’s stock valued at $55,011,920,000 after acquiring an additional 1,733,182 shares during the last quarter. FMR LLC increased its stake in Meta Platforms by 4.0% in the third quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock valued at $39,270,443,000 after purchasing an additional 5,001,647 shares in the last quarter. Morgan Stanley raised its holdings in Meta Platforms by 3.4% in the third quarter. Morgan Stanley now owns 36,277,772 shares of the social networking company’s stock worth $10,890,950,000 after purchasing an additional 1,184,978 shares during the period. Norges Bank bought a new position in shares of Meta Platforms during the fourth quarter worth $11,285,855,000. Finally, Northern Trust Corp grew its holdings in shares of Meta Platforms by 4.3% in the 3rd quarter. Northern Trust Corp now owns 23,003,927 shares of the social networking company’s stock valued at $6,906,009,000 after buying an additional 946,871 shares during the period. 79.91% of the stock is owned by institutional investors.

Meta Platforms Stock Performance

NASDAQ:META traded down $7.31 on Thursday, reaching $467.05. 10,723,881 shares of the company’s stock were exchanged, compared to its average volume of 17,262,195. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. Meta Platforms, Inc. has a 52 week low of $258.45 and a 52 week high of $531.49. The firm has a market cap of $1.18 trillion, a price-to-earnings ratio of 26.83, a P/E/G ratio of 1.24 and a beta of 1.21. The stock has a fifty day simple moving average of $481.93 and a 200-day simple moving average of $429.53.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. The firm had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. As a group, sell-side analysts predict that Meta Platforms, Inc. will post 20.18 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.43%. Meta Platforms’s dividend payout ratio (DPR) is currently 11.49%.

Insider Transactions at Meta Platforms

In other news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $476.69, for a total transaction of $431,404.45. Following the completion of the transaction, the insider now owns 42,370 shares of the company’s stock, valued at $20,197,355.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $476.69, for a total transaction of $431,404.45. Following the transaction, the insider now directly owns 42,370 shares in the company, valued at $20,197,355.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Javier Olivan sold 412 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $472.70, for a total transaction of $194,752.40. Following the completion of the sale, the chief operating officer now directly owns 15,376 shares of the company’s stock, valued at $7,268,235.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 732,374 shares of company stock valued at $363,875,308. 13.71% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

META has been the subject of several research reports. UBS Group lowered 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. Roth Mkm lifted their price target on Meta Platforms from $500.00 to $510.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. The Goldman Sachs Group reduced their target price on shares of Meta Platforms from $555.00 to $500.00 and set a “buy” rating for the company in a report on Thursday, April 25th. KeyCorp lowered their target price on Meta Platforms from $575.00 to $555.00 and set an “overweight” rating on the stock in a research note on Monday, April 22nd. Finally, TD Cowen reduced their price target on Meta Platforms from $590.00 to $530.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Two investment 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 issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $509.80.

Check Out Our Latest Report on Meta Platforms

Meta Platforms Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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