Meta Platforms, Inc. (NASDAQ:META) is BI Asset Management Fondsmaeglerselskab A S’s 6th Largest Position

BI Asset Management Fondsmaeglerselskab A S lifted its position in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 33.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 233,948 shares of the social networking company’s stock after purchasing an additional 58,320 shares during the quarter. Meta Platforms comprises 2.1% of BI Asset Management Fondsmaeglerselskab A S’s holdings, making the stock its 6th largest position. BI Asset Management Fondsmaeglerselskab A S’s holdings in Meta Platforms were worth $113,600,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of META. Quest Partners LLC purchased a new position in Meta Platforms during the fourth quarter valued at approximately $32,000. Clear Investment Research LLC raised its position in Meta Platforms by 411.1% during the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after acquiring an additional 74 shares in the last quarter. Cranbrook Wealth Management LLC increased its position in shares of Meta Platforms by 80.4% in the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after buying an additional 45 shares in the last quarter. Gilfoyle & Co LLC purchased a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $39,000. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in shares of Meta Platforms in the first quarter valued at approximately $44,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on META shares. BMO Capital Markets restated a “market perform” rating and issued a $450.00 price objective on shares of Meta Platforms in a research report on Wednesday, June 12th. Loop Capital restated a “buy” rating and issued a $550.00 price objective on shares of Meta Platforms in a research report on Wednesday, July 3rd. Oppenheimer cut their price objective on Meta Platforms from $585.00 to $500.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. The Goldman Sachs Group cut their price objective 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. Finally, Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a research note on Monday, July 1st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $515.64.

Read Our Latest Analysis on META

Insiders Place Their Bets

In other Meta Platforms news, Director Sheryl Sandberg sold 105,000 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 630,293 shares of the company’s stock, valued at approximately $300,466,976.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Jennifer Newstead sold 585 shares of the stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $498.59, for a total transaction of $291,675.15. Following the completion of the transaction, the insider now directly owns 37,813 shares of the company’s stock, valued at approximately $18,853,183.67. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Sheryl Sandberg sold 105,000 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total value of $50,054,550.00. Following 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. In the last ninety days, insiders sold 294,768 shares of company stock valued at $146,314,257. 13.71% of the stock is owned by company insiders.

Meta Platforms Stock Up 0.9 %

Shares of NASDAQ META opened at $534.69 on Thursday. The stock has a market cap of $1.36 trillion, a PE ratio of 30.71, a price-to-earnings-growth ratio of 1.37 and a beta of 1.21. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 52-week low of $274.38 and a 52-week high of $542.81. The business has a 50-day moving average price of $490.20 and a 200 day moving average price of $464.66.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. The firm had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. Equities research analysts forecast 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. Shareholders of record on Friday, June 14th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a yield of 0.37%. Meta Platforms’s payout ratio is 11.49%.

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.

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

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