Van ECK Associates Corp Has $165.27 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

Van ECK Associates Corp boosted its stake in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 6.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 340,357 shares of the social networking company’s stock after purchasing an additional 20,848 shares during the quarter. Van ECK Associates Corp’s holdings in Meta Platforms were worth $165,270,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in META. Norges Bank acquired a new stake in shares of Meta Platforms in the fourth quarter valued at about $11,285,855,000. International Assets Investment Management LLC boosted its stake in Meta Platforms by 11,154.4% during the 4th quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company’s stock valued at $1,752,900,000 after purchasing an additional 4,908,251 shares during the period. Capital Research Global Investors grew its holdings in Meta Platforms by 17.2% in the 4th quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock valued at $10,695,722,000 after buying an additional 4,440,229 shares during the last quarter. Concentrum Wealth Management increased its position in Meta Platforms by 111.0% in the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after buying an additional 3,888,308 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Meta Platforms by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock worth $65,960,215,000 after buying an additional 3,104,550 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In other news, Director Sheryl Sandberg sold 105,000 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total transaction of $50,054,550.00. Following the completion of the transaction, the director now directly owns 630,293 shares in the company, valued at approximately $300,466,976.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total transaction of $305,370.00. Following the transaction, the insider now directly owns 38,398 shares in the company, valued at $20,043,756. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Sheryl Sandberg sold 105,000 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $476.71, for a total value of $50,054,550.00. Following the completion of the transaction, the director now directly owns 630,293 shares of the company’s stock, valued at $300,466,976.03. The disclosure for this sale can be found here. Over the last quarter, insiders sold 251,905 shares of company stock worth $123,528,726. 13.71% of the stock is owned by insiders.

Meta Platforms Stock Performance

Meta Platforms stock opened at $539.91 on Friday. The company has a market cap of $1.37 trillion, a PE ratio of 31.01, a PEG ratio of 1.32 and a beta of 1.21. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 1 year low of $274.38 and a 1 year high of $540.87. The company’s 50-day moving average is $484.36 and its two-hundred day moving average is $460.13.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating 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 business had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Equities analysts anticipate that Meta Platforms, Inc. will post 20.15 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were paid a dividend of $0.50 per share. The ex-dividend date was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.37%. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Wall Street Analysts Forecast Growth

META has been the topic of a number of research reports. Wells Fargo & Company dropped their target price on shares of Meta Platforms from $609.00 to $600.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 3rd. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Meta Platforms from $540.00 to $500.00 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 on the stock in a research report on Thursday, April 25th. Roth Mkm raised their price objective on Meta Platforms from $500.00 to $510.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Finally, Robert W. Baird lowered their price objective on Meta Platforms from $525.00 to $500.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $511.27.

Get Our Latest Analysis on Meta Platforms

Meta Platforms 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.

Further Reading

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

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