100,232 Shares in Meta Platforms, Inc. (NASDAQ:META) Acquired by Allianz SE

Allianz SE purchased a new stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 100,232 shares of the social networking company's stock, valued at approximately $59,219,000. Meta Platforms accounts for about 1.5% of Allianz SE's portfolio, making the stock its 11th biggest position.

Several other hedge funds have also recently bought and sold shares of the stock. Tucker Asset Management LLC grew its position in Meta Platforms by 27.1% during the fourth quarter. Tucker Asset Management LLC now owns 399 shares of the social networking company's stock worth $234,000 after buying an additional 85 shares in the last quarter. Mitchell Sinkler & Starr PA grew its holdings in shares of Meta Platforms by 2.8% during the 4th quarter. Mitchell Sinkler & Starr PA now owns 3,931 shares of the social networking company's stock worth $2,302,000 after purchasing an additional 106 shares in the last quarter. Valley Forge Investment Consultants Inc. ADV increased its position in shares of Meta Platforms by 52.7% in the fourth quarter. Valley Forge Investment Consultants Inc. ADV now owns 806 shares of the social networking company's stock worth $472,000 after purchasing an additional 278 shares during the period. WealthTrak Capital Management LLC acquired a new position in Meta Platforms in the fourth quarter valued at about $43,000. Finally, Intrust Bank NA lifted its position in Meta Platforms by 2.2% during the fourth quarter. Intrust Bank NA now owns 17,335 shares of the social networking company's stock worth $10,150,000 after purchasing an additional 373 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity at Meta Platforms

In other news, CFO Susan J. Li sold 8,553 shares of the business's stock in a transaction that occurred on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total value of $6,300,738.51. Following the transaction, the chief financial officer now owns 51,793 shares in the company, valued at $38,154,349.31. The trade was a 14.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Javier Olivan sold 4,706 shares of Meta Platforms stock in a transaction on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total value of $3,466,769.02. Following the sale, the chief operating officer now owns 20,935 shares in the company, valued at $15,422,186.45. This trade represents a 18.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 584,410 shares of company stock valued at $386,031,454. 13.71% of the stock is owned by insiders.

Meta Platforms Stock Down 0.1 %

META traded down $0.38 during trading on Monday, hitting $576.36. 20,419,137 shares of the company's stock were exchanged, compared to its average volume of 14,265,663. Meta Platforms, Inc. has a fifty-two week low of $414.50 and a fifty-two week high of $740.91. The stock has a market cap of $1.46 trillion, a P/E ratio of 24.10, a PEG ratio of 1.42 and a beta of 1.23. The business's 50 day moving average is $655.23 and its two-hundred day moving average is $609.90. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, topping analysts' consensus estimates of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same period last year, the firm posted $5.33 EPS. As a group, equities analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Friday, March 14th were issued a dividend of $0.525 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.10 annualized dividend and a yield of 0.36%. This is an increase from Meta Platforms's previous quarterly dividend of $0.50. Meta Platforms's dividend payout ratio is 8.78%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group upped their price target on shares of Meta Platforms from $688.00 to $765.00 and gave the stock a "buy" rating in a report on Thursday, January 30th. Benchmark raised Meta Platforms from a "hold" rating to a "buy" rating and set a $820.00 target price on the stock in a report on Thursday, January 30th. Pivotal Research upped their price objective on Meta Platforms from $800.00 to $875.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. Piper Sandler lifted their target price on Meta Platforms from $670.00 to $775.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Finally, Barclays increased their target price on shares of Meta Platforms from $630.00 to $705.00 and gave the stock an "overweight" rating in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $718.55.

Meta Platforms Company 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.