Meta Platforms, Inc. (NASDAQ:META) Holdings Cut by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co reduced its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 3.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 201,478 shares of the social networking company's stock after selling 6,795 shares during the period. Meta Platforms makes up approximately 2.5% of Elo Mutual Pension Insurance Co's investment portfolio, making the stock its 5th biggest position. Elo Mutual Pension Insurance Co's holdings in Meta Platforms were worth $117,967,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Meta Platforms by 7.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,583,795 shares of the social networking company's stock worth $2,166,870,000 after buying an additional 248,856 shares in the last quarter. Hardin Capital Partners LLC lifted its holdings in shares of Meta Platforms by 16.4% during the 4th quarter. Hardin Capital Partners LLC now owns 433 shares of the social networking company's stock worth $254,000 after acquiring an additional 61 shares during the period. Cottage Street Advisors LLC boosted its position in shares of Meta Platforms by 12.1% during the 4th quarter. Cottage Street Advisors LLC now owns 2,190 shares of the social networking company's stock worth $1,282,000 after acquiring an additional 237 shares in the last quarter. Tyler Stone Wealth Management boosted its position in shares of Meta Platforms by 12.7% during the 4th quarter. Tyler Stone Wealth Management now owns 4,816 shares of the social networking company's stock worth $2,820,000 after acquiring an additional 543 shares in the last quarter. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund increased its stake in Meta Platforms by 3.6% in the fourth quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 222,968 shares of the social networking company's stock valued at $130,550,000 after acquiring an additional 7,800 shares during the last quarter. Institutional investors own 79.91% of the company's stock.

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Analyst Ratings Changes

META has been the topic of a number of research analyst reports. Cantor Fitzgerald raised their target price on Meta Platforms from $720.00 to $790.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. Argus set a $775.00 price target on shares of Meta Platforms in a research note on Tuesday, February 4th. Citigroup upped their price target on shares of Meta Platforms from $753.00 to $780.00 and gave the stock a "buy" rating in a report on Thursday, January 30th. Wedbush reiterated an "outperform" rating and issued a $770.00 price objective (up previously from $700.00) on shares of Meta Platforms in a report on Thursday, January 30th. Finally, The Goldman Sachs Group lifted their price objective on Meta Platforms from $688.00 to $765.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Meta Platforms presently has a consensus rating of "Moderate Buy" and an average target price of $718.31.

Insider Activity

In related news, COO Javier Olivan sold 4,706 shares of Meta Platforms stock in a transaction dated 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 completion of the sale, the chief operating officer now owns 20,935 shares of the company's stock, valued at approximately $15,422,186.45. This trade represents a 18.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 55,589 shares of the business's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $717.72, for a total value of $39,897,337.08. The disclosure for this sale can be found here. Insiders sold 584,823 shares of company stock valued at $386,274,777 in the last three months. Company insiders own 13.71% of the company's stock.

Meta Platforms Stock Performance

Shares of META traded down $25.84 on Friday, reaching $576.74. 17,561,028 shares of the company's stock traded hands, compared to its average volume of 14,238,405. The stock's 50 day simple moving average is $655.23 and its two-hundred day simple moving average is $609.21. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 52-week low of $414.50 and a 52-week high of $740.91. The stock has a market cap of $1.46 trillion, a PE ratio of 24.11, a PEG ratio of 1.42 and a beta of 1.23.

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

Meta Platforms Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 0.36%. This is a boost from Meta Platforms's previous quarterly dividend of $0.50. The ex-dividend date was Friday, March 14th. Meta Platforms's payout ratio is presently 8.78%.

Meta Platforms 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.