Tulsa Wealth Advisors INC Takes Position in Meta Platforms, Inc. $META

Tulsa Wealth Advisors INC bought a new position in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,448 shares of the social networking company’s stock, valued at approximately $4,916,000. Meta Platforms makes up approximately 1.6% of Tulsa Wealth Advisors INC’s investment portfolio, making the stock its 19th largest holding.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Westchester Capital Management Inc. acquired a new position in Meta Platforms in the 3rd quarter worth $26,000. RHL Group LLC acquired a new stake in shares of Meta Platforms during the fourth quarter valued at about $28,000. Strategic Wealth Advisors LLC acquired a new stake in shares of Meta Platforms during the fourth quarter valued at about $29,000. Niles Investment Management LLC purchased a new stake in shares of Meta Platforms during the fourth quarter worth about $29,000. Finally, Safe Harbor Fiduciary LLC purchased a new stake in shares of Meta Platforms during the fourth quarter worth about $42,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Stock Performance

Shares of NASDAQ META opened at $577.22 on Friday. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.24. The stock’s 50 day moving average price is $621.27 and its two-hundred day moving average price is $634.15. Meta Platforms, Inc. has a 52-week low of $520.26 and a 52-week high of $796.25. The stock has a market capitalization of $1.46 trillion, a P/E ratio of 20.98, a PEG ratio of 1.02 and a beta of 1.23.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its earnings results on Wednesday, April 29th. The social networking company reported $10.44 EPS for the quarter, topping the consensus estimate of $6.67 by $3.77. Meta Platforms had a return on equity of 36.93% and a net margin of 32.84%.The company had revenue of $56.31 billion during the quarter, compared to analyst estimates of $55.56 billion. During the same quarter last year, the firm earned $6.43 EPS. The business’s revenue was up 33.1% on a year-over-year basis. On average, analysts anticipate that Meta Platforms, Inc. will post 29.35 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Monday, June 15th will be paid a dividend of $0.525 per share. The ex-dividend date is Monday, June 15th. This represents a $2.10 annualized dividend and a yield of 0.4%. Meta Platforms’s dividend payout ratio (DPR) is 7.63%.

Meta Platforms News Roundup

Here are the key news stories impacting Meta Platforms this week:

Insider Buying and Selling at Meta Platforms

In other news, COO Javier Olivan sold 2,778 shares of the firm’s stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $629.45, for a total value of $1,748,612.10. Following the transaction, the chief operating officer directly owned 10,557 shares in the company, valued at approximately $6,645,103.65. This trade represents a 20.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Curtis J. Mahoney sold 2,079 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $609.92, for a total transaction of $1,268,023.68. Following the completion of the transaction, the insider owned 1,118 shares in the company, valued at approximately $681,890.56. The trade was a 65.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 40,568 shares of company stock worth $25,057,365. Company insiders own 13.53% of the company’s stock.

Analyst Upgrades and Downgrades

META has been the subject of a number of analyst reports. Citizens Jmp reissued a “market outperform” rating and issued a $900.00 price target on shares of Meta Platforms in a report on Tuesday, April 21st. Raymond James Financial raised Meta Platforms from an “underperform” rating to an “outperform” rating in a research report on Tuesday, June 2nd. UBS Group cut Meta Platforms from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 2nd. Wedbush raised shares of Meta Platforms from an “outperform” rating to a “neutral” rating in a research report on Tuesday, June 2nd. Finally, The Goldman Sachs Group lowered shares of Meta Platforms from a “buy” rating to a “sell” rating in a research note on Tuesday, June 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $840.60.

Read Our Latest Report on Meta Platforms

Meta Platforms Profile

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

Recommended Stories

Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:METAFree Report).

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

Receive News & Ratings for Meta Platforms Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meta Platforms and related companies with MarketBeat.com's FREE daily email newsletter.