Meta Platforms, Inc. (NASDAQ:META) is Pinebridge Investments L.P.'s 8th Largest Position

Pinebridge Investments L.P. boosted its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 9.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 529,535 shares of the social networking company's stock after acquiring an additional 46,211 shares during the period. Meta Platforms accounts for 1.7% of Pinebridge Investments L.P.'s portfolio, making the stock its 8th largest holding. Pinebridge Investments L.P.'s holdings in Meta Platforms were worth $187,434,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the stock. American International Group Inc. increased its holdings in shares of Meta Platforms by 2.5% in the 4th quarter. American International Group Inc. now owns 685,333 shares of the social networking company's stock worth $242,580,000 after buying an additional 17,002 shares during the last quarter. Cibc World Markets Corp increased its holdings in shares of Meta Platforms by 69.6% in the 4th quarter. Cibc World Markets Corp now owns 1,773,804 shares of the social networking company's stock worth $627,856,000 after buying an additional 728,149 shares during the last quarter. Public Employees Retirement Association of Colorado increased its holdings in shares of Meta Platforms by 1,128.6% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,192,861 shares of the social networking company's stock worth $422,225,000 after buying an additional 1,095,773 shares during the last quarter. Cetera Advisor Networks LLC increased its holdings in shares of Meta Platforms by 3.0% in the 4th quarter. Cetera Advisor Networks LLC now owns 223,811 shares of the social networking company's stock worth $79,220,000 after buying an additional 6,613 shares during the last quarter. Finally, Annex Advisory Services LLC increased its holdings in shares of Meta Platforms by 533.3% in the 4th quarter. Annex Advisory Services LLC now owns 11,545 shares of the social networking company's stock worth $4,087,000 after buying an additional 9,722 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on META. Wells Fargo & Company reduced their target price on shares of Meta Platforms from $609.00 to $600.00 and set an "overweight" rating on the stock in a report on Wednesday, April 3rd. Truist Financial reduced their target price on shares of Meta Platforms from $550.00 to $535.00 and set a "buy" rating on the stock in a report on Thursday, April 25th. Piper Sandler reaffirmed an "overweight" rating and set a $545.00 price target (down from $600.00) on shares of Meta Platforms in a research note on Thursday, April 25th. Needham & Company LLC reaffirmed an "underperform" rating on shares of Meta Platforms in a research note on Thursday, April 25th. Finally, Guggenheim dropped their price target on shares of Meta Platforms from $520.00 to $500.00 and set a "buy" rating for the company in a research note on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms currently has a consensus rating of "Moderate Buy" and a consensus target price of $510.41.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 490 shares of the company's stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $513.32, for a total transaction of $251,526.80. Following the transaction, the chief operating officer now owns 10,029 shares in the company, valued at approximately $5,148,086.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $477.00, for a total value of $431,685.00. Following the sale, the insider now owns 41,465 shares in the company, valued at $19,778,805. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Javier Olivan sold 490 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $513.32, for a total transaction of $251,526.80. Following the completion of the sale, the chief operating officer now owns 10,029 shares in the company, valued at approximately $5,148,086.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 636,873 shares of company stock worth $313,778,444. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Stock Down 0.3 %

Shares of NASDAQ META traded down $1.30 during trading hours on Thursday, hitting $493.76. 10,646,957 shares of the stock were exchanged, compared to its average volume of 17,035,906. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The company has a market cap of $1.25 trillion, a PE ratio of 28.36, a PEG ratio of 1.24 and a beta of 1.21. The firm has a fifty day moving average price of $480.37 and a 200-day moving average price of $434.68. Meta Platforms, Inc. has a 12 month low of $258.88 and a 12 month high of $531.49.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.32 by $0.39. The firm had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. On average, sell-side analysts expect that Meta Platforms, Inc. will post 20.19 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.50 per share. The ex-dividend date is Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a yield of 0.41%. Meta Platforms's payout ratio is 11.49%.

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.

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