Bokf Na Raises Stake in Meta Platforms, Inc. (NASDAQ:META)

Bokf Na raised its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 88,353 shares of the social networking company’s stock after purchasing an additional 965 shares during the quarter. Meta Platforms accounts for about 0.8% of Bokf Na’s investment portfolio, making the stock its 24th largest position. Bokf Na’s holdings in Meta Platforms were worth $43,412,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in META. Vanguard Group Inc. lifted its holdings in shares of Meta Platforms by 0.4% in the first quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock worth $90,891,055,000 after buying an additional 831,047 shares in the last quarter. Capital World Investors lifted its holdings in shares of Meta Platforms by 0.6% in the first quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock worth $18,597,382,000 after buying an additional 244,803 shares in the last quarter. Capital International Investors lifted its holdings in shares of Meta Platforms by 3.2% in the fourth quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock worth $12,296,383,000 after buying an additional 1,083,719 shares in the last quarter. Capital Research Global Investors lifted its holdings in shares of Meta Platforms by 14.5% in the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock worth $16,799,612,000 after buying an additional 4,379,826 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Meta Platforms in the fourth quarter worth $11,285,855,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on META. Oppenheimer boosted their target price on shares of Meta Platforms from $500.00 to $525.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Wedbush reaffirmed an “outperform” rating and set a $570.00 price target on shares of Meta Platforms in a research note on Wednesday. BNP Paribas started coverage on shares of Meta Platforms in a research note on Thursday, May 2nd. They set an “underperform” rating and a $360.00 price target on the stock. Canaccord Genuity Group decreased their price target on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Finally, Loop Capital reaffirmed a “buy” rating and set a $550.00 price target on shares of Meta Platforms in a research note on Wednesday, July 3rd. Two analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-five 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 an average rating of “Moderate Buy” and a consensus price target of $534.87.

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total transaction of $252,164.25. Following the transaction, the insider now directly owns 36,643 shares in the company, valued at approximately $15,794,965.15. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total transaction of $252,164.25. Following the completion of the sale, the insider now directly owns 36,643 shares of the company’s stock, valued at $15,794,965.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Javier Olivan sold 490 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $445.93, for a total transaction of $218,505.70. Following the sale, the chief operating officer now directly owns 6,109 shares of the company’s stock, valued at $2,724,186.37. The disclosure for this sale can be found here. Insiders have sold a total of 311,348 shares of company stock worth $154,678,120 in the last three months. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Stock Up 2.7 %

Meta Platforms stock traded up $12.29 during midday trading on Friday, hitting $465.70. 14,222,388 shares of the company’s stock were exchanged, compared to its average volume of 13,931,730. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. Meta Platforms, Inc. has a 12 month low of $274.38 and a 12 month high of $542.81. The firm has a 50-day moving average of $493.20 and a two-hundred day moving average of $475.36. The company has a market cap of $1.18 trillion, a PE ratio of 26.75, a P/E/G ratio of 1.20 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The company had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. As a group, analysts expect that Meta Platforms, Inc. will post 20.23 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.43%. The ex-dividend date was Friday, June 14th. Meta Platforms’s payout ratio is 11.49%.

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.