Oder Investment Management LLC Increases Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Oder Investment Management LLC lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 5.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,157 shares of the social networking company’s stock after buying an additional 116 shares during the quarter. Oder Investment Management LLC’s holdings in Meta Platforms were worth $763,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its stake in Meta Platforms by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 183,244,796 shares of the social networking company’s stock valued at $55,011,920,000 after purchasing an additional 1,733,182 shares in the last quarter. FMR LLC grew its stake in Meta Platforms by 4.0% during the 3rd 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 grew its stake in Meta Platforms by 3.4% during the 3rd quarter. Morgan Stanley now owns 36,277,772 shares of the social networking company’s stock valued at $10,890,950,000 after purchasing an additional 1,184,978 shares in the last quarter. Northern Trust Corp grew its stake in Meta Platforms by 4.3% during 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 purchasing an additional 946,871 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Meta Platforms by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,143,462 shares of the social networking company’s stock valued at $3,945,799,000 after purchasing an additional 111,735 shares in the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on META shares. Roth Mkm raised their price objective on Meta Platforms from $500.00 to $510.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Jefferies Financial Group decreased their target price on Meta Platforms from $585.00 to $540.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Sanford C. Bernstein decreased their target price on Meta Platforms from $590.00 to $565.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Tigress Financial lifted their target price on Meta Platforms from $435.00 to $575.00 and gave the stock a “strong-buy” rating in a research report on Friday, February 9th. Finally, The Goldman Sachs Group decreased their target price on Meta Platforms from $555.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $509.18.

Meta Platforms Stock Up 1.4 %

Shares of META stock traded up $6.06 on Wednesday, reaching $436.23. 7,326,035 shares of the company’s stock traded hands, compared to its average volume of 18,290,893. Meta Platforms, Inc. has a 12-month low of $229.85 and a 12-month high of $531.49. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. The company has a market capitalization of $1.11 trillion, a P/E ratio of 24.87, a price-to-earnings-growth ratio of 1.12 and a beta of 1.20. The business’s 50 day moving average price is $492.83 and its two-hundred day moving average price is $406.97.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The firm had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. On average, equities analysts forecast that Meta Platforms, Inc. will post 20.17 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, February 22nd were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $2.00 dividend on an annualized basis and a yield of 0.46%. Meta Platforms’s dividend payout ratio (DPR) is currently 11.49%.

Insider Buying and Selling at Meta Platforms

In other news, COO Javier Olivan sold 490 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $441.54, for a total value of $216,354.60. Following the sale, the chief operating officer now directly owns 6,599 shares in the company, valued at approximately $2,913,722.46. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Meta Platforms news, COO Javier Olivan sold 490 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $441.54, for a total transaction of $216,354.60. Following the transaction, the chief operating officer now owns 6,599 shares of the company’s stock, valued at approximately $2,913,722.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jennifer Newstead sold 585 shares of the stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $522.00, for a total value of $305,370.00. Following the completion of the transaction, the insider now directly owns 38,398 shares in the company, valued at approximately $20,043,756. The disclosure for this sale can be found here. Insiders have sold 1,257,291 shares of company stock worth $612,916,087 over the last 90 days. 13.71% of the stock is currently owned by corporate insiders.

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.