AMF Tjanstepension AB Acquires 3,309 Shares of Meta Platforms, Inc. (NASDAQ:META)

AMF Tjanstepension AB raised its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 0.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 460,401 shares of the social networking company's stock after acquiring an additional 3,309 shares during the period. Meta Platforms makes up 1.9% of AMF Tjanstepension AB's holdings, making the stock its 14th largest position. AMF Tjanstepension AB's holdings in Meta Platforms were worth $269,591,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Howard Capital Management Group LLC grew its holdings in shares of Meta Platforms by 17.9% in the 3rd quarter. Howard Capital Management Group LLC now owns 1,652 shares of the social networking company's stock valued at $946,000 after buying an additional 251 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Meta Platforms by 6.5% in the 3rd quarter. Principal Financial Group Inc. now owns 3,368,361 shares of the social networking company's stock valued at $1,928,185,000 after buying an additional 204,412 shares during the period. United Bank grew its holdings in shares of Meta Platforms by 22.2% in the 3rd quarter. United Bank now owns 5,569 shares of the social networking company's stock valued at $3,188,000 after buying an additional 1,011 shares during the period. Pegasus Partners Ltd. grew its holdings in shares of Meta Platforms by 22.8% in the 3rd quarter. Pegasus Partners Ltd. now owns 3,345 shares of the social networking company's stock valued at $1,915,000 after buying an additional 621 shares during the period. Finally, Beta Wealth Group Inc. grew its holdings in shares of Meta Platforms by 502.2% in the 3rd quarter. Beta Wealth Group Inc. now owns 2,511 shares of the social networking company's stock valued at $1,437,000 after buying an additional 2,094 shares during the period. Institutional investors own 79.91% of the company's stock.

Meta Platforms Stock Performance

Shares of NASDAQ:META opened at $619.56 on Thursday. The company's 50 day moving average price is $658.13 and its two-hundred day moving average price is $602.08. Meta Platforms, Inc. has a 12-month low of $414.50 and a 12-month high of $740.91. The firm has a market cap of $1.57 trillion, a PE ratio of 25.90, a PEG ratio of 1.42 and a beta of 1.23. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16.

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Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) 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 quarter last year, the firm posted $5.33 EPS. Equities research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date is Friday, March 14th. This is a positive change from Meta Platforms's previous quarterly dividend of $0.50. Meta Platforms's dividend payout ratio is presently 8.78%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on META shares. Jefferies Financial Group boosted their price target on shares of Meta Platforms from $675.00 to $715.00 and gave the company a "buy" rating in a report on Monday, January 6th. Barclays upped their target price on shares of Meta Platforms from $630.00 to $705.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. Pivotal Research upped their target price on shares of Meta Platforms from $800.00 to $875.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. DA Davidson upped their target price on shares of Meta Platforms from $700.00 to $800.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. Finally, Benchmark raised shares of Meta Platforms from a "hold" rating to a "buy" rating and set a $820.00 target price for the company in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $719.26.

Insiders Place Their Bets

In related news, COO Javier Olivan sold 413 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $589.16, for a total transaction of $243,323.08. Following the sale, the chief operating officer now owns 17,514 shares in the company, valued at approximately $10,318,548.24. This trade represents a 2.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Susan J. Li sold 8,553 shares of the stock in a transaction that occurred on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total transaction of $6,300,738.51. Following the sale, the chief financial officer now owns 51,793 shares in the company, valued at $38,154,349.31. This represents a 14.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 725,689 shares of company stock worth $473,072,897 in the last quarter. Corporate insiders own 13.71% of the company's stock.

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.

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