Danica Pension Livsforsikringsaktieselskab Lowers Holdings in Meta Platforms, Inc. $META

Danica Pension Livsforsikringsaktieselskab reduced its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 10.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 264,241 shares of the social networking company’s stock after selling 31,057 shares during the quarter. Meta Platforms comprises 2.9% of Danica Pension Livsforsikringsaktieselskab’s investment portfolio, making the stock its 6th biggest position. Danica Pension Livsforsikringsaktieselskab’s holdings in Meta Platforms were worth $151,180,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of META. Brighton Jones LLC lifted its position in shares of Meta Platforms by 1.7% during the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock worth $20,230,000 after acquiring an additional 570 shares in the last quarter. Revolve Wealth Partners LLC grew its position in shares of Meta Platforms by 10.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company’s stock valued at $5,537,000 after purchasing an additional 875 shares in the last quarter. Headwater Capital Co Ltd grew its position in shares of Meta Platforms by 294.7% in the first quarter. Headwater Capital Co Ltd now owns 150,000 shares of the social networking company’s stock valued at $86,454,000 after purchasing an additional 112,000 shares in the last quarter. Dymon Asia Capital Singapore PTE. LTD. bought a new stake in shares of Meta Platforms during the 2nd quarter valued at $213,000. Finally, Capital & Planning LLC bought a new stake in shares of Meta Platforms during the 2nd quarter valued at $322,000. 79.91% of the stock is owned by institutional investors.

More Meta Platforms News

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

• Positive Sentiment: A new free verification badge system for Facebook users, which may improve trust and platform quality. Fast Company article
• Positive Sentiment: A dedicated Marketplace seller app with tools for merchants, aimed at making Facebook commerce more useful and organized. Reuters article
• Positive Sentiment: Wall Street commentary remained constructive, with articles highlighting Meta as a strong momentum stock and a potentially attractive AI-era value name.
• Positive Sentiment: Analyst sentiment stayed favorable, including a report that Wells Fargo raised its price target on Meta to $835.00.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 3,348 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $600.97, for a total value of $2,012,047.56. Following the completion of the transaction, the chief operating officer owned 9,498 shares of the company’s stock, valued at $5,708,013.06. The trade was a 26.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert M. Kimmitt sold 500 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $607.75, for a total transaction of $303,875.00. Following the completion of the transaction, the director directly owned 3,443 shares in the company, valued at $2,092,483.25. The trade was a 12.68% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 37,948 shares of company stock worth $23,184,319 over the last three months. 13.53% of the stock is owned by insiders.

Meta Platforms Stock Performance

NASDAQ:META opened at $595.19 on Friday. The stock has a market cap of $1.51 trillion, a P/E ratio of 21.64, a PEG ratio of 1.01 and a beta of 1.25. 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 business’s 50-day moving average price is $604.51 and its two-hundred day moving average price is $625.76. Meta Platforms, Inc. has a twelve month low of $520.26 and a twelve month high of $796.25.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data 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. The company had revenue of $56.31 billion during the quarter, compared to analyst estimates of $55.56 billion. Meta Platforms had a return on equity of 36.93% and a net margin of 32.84%.Meta Platforms’s revenue was up 33.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.43 earnings per share. As a group, equities analysts predict that Meta Platforms, Inc. will post 29.49 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Monday, June 15th were given a dividend of $0.525 per share. The ex-dividend date was Monday, June 15th. This represents a $2.10 annualized dividend and a yield of 0.4%. Meta Platforms’s payout ratio is presently 7.63%.

Wall Street Analysts Forecast Growth

META has been the subject of several analyst reports. The Goldman Sachs Group downgraded Meta Platforms from a “buy” rating to a “sell” rating in a research note on Tuesday, June 2nd. Erste Group Bank upgraded shares of Meta Platforms from a “hold” rating to a “buy” rating in a research report on Tuesday, July 7th. Wedbush assumed coverage on shares of Meta Platforms in a research note on Thursday, July 16th. They set a “neutral” rating and a $671.00 price objective for the company. BNP Paribas Exane assumed coverage on shares of Meta Platforms in a report on Tuesday, June 2nd. They set an “outperform” rating on the stock. Finally, Wall Street Zen cut shares of Meta Platforms from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Five analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $835.64.

Meta Platforms Company Profile

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.