Tokio Marine Asset Management Co. Ltd. Grows Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 6.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 60,798 shares of the social networking company's stock after purchasing an additional 3,659 shares during the period. Meta Platforms accounts for 1.5% of Tokio Marine Asset Management Co. Ltd.'s holdings, making the stock its 11th biggest position. Tokio Marine Asset Management Co. Ltd.'s holdings in Meta Platforms were worth $34,803,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in META. POM Investment Strategies LLC bought a new stake in Meta Platforms in the 2nd quarter valued at $38,000. Ruedi Wealth Management Inc. increased its position in Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company's stock worth $40,000 after buying an additional 44 shares during the period. Halpern Financial Inc. bought a new position in Meta Platforms during the 3rd quarter worth $46,000. West Financial Advisors LLC bought a new position in Meta Platforms during the 3rd quarter worth $49,000. Finally, NewSquare Capital LLC increased its position in Meta Platforms by 221.9% during the 2nd quarter. NewSquare Capital LLC now owns 103 shares of the social networking company's stock worth $52,000 after buying an additional 71 shares during the period. Institutional investors own 79.91% of the company's stock.

Wall Street Analysts Forecast Growth

META has been the topic of several recent research reports. BMO Capital Markets increased their price objective on Meta Platforms from $525.00 to $530.00 and gave the stock a "market perform" rating in a research report on Thursday, October 31st. Morgan Stanley raised their price objective on Meta Platforms from $550.00 to $575.00 and gave the company an "overweight" rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft raised their price objective on Meta Platforms from $525.00 to $585.00 and gave the stock a "buy" rating in a research report on Thursday, August 1st. Tigress Financial lifted their target price on Meta Platforms from $575.00 to $645.00 and gave the stock a "strong-buy" rating in a report on Friday, August 16th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $670.00 target price on shares of Meta Platforms in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $634.10.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $567.70, for a total transaction of $511,497.70. Following the sale, the insider now owns 30,581 shares of the company's stock, valued at approximately $17,360,833.70. This trade represents a 2.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 84 shares of Meta Platforms stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $600.00, for a total value of $50,400.00. Following the transaction, the chief executive officer now owns 518,424 shares of the company's stock, valued at $311,054,400. The trade was a 0.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 141,498 shares of company stock worth $75,732,154 over the last ninety days. Company insiders own 13.71% of the company's stock.

Meta Platforms Price Performance

Meta Platforms stock traded up $1.64 during midday trading on Monday, reaching $555.72. 10,358,277 shares of the stock traded hands, compared to its average volume of 15,043,996. The stock's fifty day moving average is $568.11 and its 200-day moving average is $521.17. Meta Platforms, Inc. has a 12 month low of $313.66 and a 12 month high of $602.95. The stock has a market cap of $1.40 trillion, a P/E ratio of 26.26, a PEG ratio of 1.23 and a beta of 1.22. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The business had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. As a group, equities research analysts anticipate that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.36%. Meta Platforms's dividend payout ratio (DPR) is presently 9.42%.

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.