Obermeyer Wood Investment Counsel Lllp Has $30.45 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Obermeyer Wood Investment Counsel Lllp cut its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 86,038 shares of the social networking company’s stock after selling 984 shares during the period. Meta Platforms accounts for about 2.1% of Obermeyer Wood Investment Counsel Lllp’s investment portfolio, making the stock its 18th biggest holding. Obermeyer Wood Investment Counsel Lllp’s holdings in Meta Platforms were worth $30,454,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. WoodTrust Financial Corp increased its position in Meta Platforms by 1.8% in the fourth quarter. WoodTrust Financial Corp now owns 1,547 shares of the social networking company’s stock worth $548,000 after buying an additional 27 shares in the last quarter. Tennessee Valley Asset Management Partners grew its position in shares of Meta Platforms by 0.6% during the fourth quarter. Tennessee Valley Asset Management Partners now owns 4,566 shares of the social networking company’s stock worth $1,616,000 after purchasing an additional 27 shares in the last quarter. Peterson Wealth Advisors LLC grew its position in shares of Meta Platforms by 1.9% during the fourth quarter. Peterson Wealth Advisors LLC now owns 1,468 shares of the social networking company’s stock worth $520,000 after purchasing an additional 28 shares in the last quarter. Edge Wealth Management LLC grew its position in shares of Meta Platforms by 4.0% during the fourth quarter. Edge Wealth Management LLC now owns 730 shares of the social networking company’s stock worth $258,000 after purchasing an additional 28 shares in the last quarter. Finally, Yarger Wealth Strategies LLC grew its position in shares of Meta Platforms by 4.0% during the fourth quarter. Yarger Wealth Strategies LLC now owns 736 shares of the social networking company’s stock worth $260,000 after purchasing an additional 28 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CTO Andrew Bosworth sold 8,036 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $473.28, for a total value of $3,803,278.08. Following the completion of the transaction, the chief technology officer now owns 18,432 shares of the company’s stock, valued at approximately $8,723,496.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total transaction of $305,370.00. Following the completion of the sale, the insider now directly owns 38,398 shares in the company, valued at approximately $20,043,756. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CTO Andrew Bosworth sold 8,036 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $473.28, for a total value of $3,803,278.08. Following the sale, the chief technology officer now owns 18,432 shares of the company’s stock, valued at $8,723,496.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,421,182 shares of company stock valued at $677,574,550. 13.75% of the stock is owned by company insiders.

Meta Platforms Stock Down 2.4 %

META stock traded down $12.00 on Friday, hitting $489.80. 4,923,158 shares of the company’s stock were exchanged, compared to its average volume of 16,882,270. The firm has a 50 day moving average price of $494.29 and a two-hundred day moving average price of $397.43. Meta Platforms, Inc. has a 12-month low of $207.13 and a 12-month high of $531.49. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.67 and a current ratio of 2.67. The stock has a market cap of $1.25 trillion, a P/E ratio of 33.99, a price-to-earnings-growth ratio of 1.26 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Thursday, February 1st. The social networking company reported $5.33 EPS for the quarter, topping analysts’ consensus estimates of $4.82 by $0.51. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. The company had revenue of $40.11 billion during the quarter, compared to analysts’ expectations of $39.12 billion. During the same quarter in the previous year, the firm posted $3.00 EPS. The firm’s revenue was up 24.7% compared to the same quarter last year. As a group, equities research analysts expect that Meta Platforms, Inc. will post 20.18 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, February 22nd were given a dividend of $0.50 per share. The ex-dividend date was Wednesday, February 21st. This represents a $2.00 dividend on an annualized basis and a yield of 0.41%. Meta Platforms’s dividend payout ratio is currently 13.42%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on META. Evercore ISI increased their target price on Meta Platforms from $425.00 to $550.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. JMP Securities increased their target price on Meta Platforms from $410.00 to $500.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Mizuho increased their price target on Meta Platforms from $470.00 to $575.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Sanford C. Bernstein increased their price target on Meta Platforms from $535.00 to $590.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Wells Fargo & Company dropped their price target on Meta Platforms from $609.00 to $600.00 and set an “overweight” rating for the company in a research note on Wednesday, April 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-eight have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $519.53.

Meta Platforms 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.