Pensionfund Sabic Invests $6.22 Million in Meta Platforms, Inc. (NASDAQ:META)

Pensionfund Sabic bought a new position in Meta Platforms, Inc. (NASDAQ:META) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 12,800 shares of the social networking company’s stock, valued at approximately $6,215,000. Meta Platforms makes up 1.8% of Pensionfund Sabic’s portfolio, making the stock its 4th biggest holding.

Several other institutional investors have also recently made changes to their positions in the company. Stone House Investment Management LLC grew its position in Meta Platforms by 625.0% during the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after buying an additional 75 shares during the period. Beaird Harris Wealth Management LLC grew its position in Meta Platforms by 68.9% during the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after buying an additional 42 shares during the period. Quest Partners LLC bought a new position in Meta Platforms during the fourth quarter valued at about $32,000. Clear Investment Research LLC grew its position in Meta Platforms by 411.1% during the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after buying an additional 74 shares during the period. Finally, Cranbrook Wealth Management LLC grew its position in Meta Platforms by 80.4% during the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after buying an additional 45 shares during the period. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Down 1.4 %

Shares of Meta Platforms stock opened at $499.49 on Thursday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. Meta Platforms, Inc. has a 52-week low of $274.38 and a 52-week high of $531.49. The stock has a market capitalization of $1.27 trillion, a price-to-earnings ratio of 28.69, a P/E/G ratio of 1.30 and a beta of 1.21. The company’s 50 day moving average price is $479.79 and its 200-day moving average price is $445.53.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The company had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. Equities research analysts forecast that Meta Platforms, Inc. will post 20.16 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Friday, June 14th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend is Friday, June 14th. Meta Platforms’s payout ratio is 11.49%.

Analyst Upgrades and Downgrades

META has been the subject of several research reports. Piper Sandler restated an “overweight” rating and set a $545.00 price target (down previously from $600.00) on shares of Meta Platforms in a research report on Thursday, April 25th. Truist Financial dropped their price objective 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. JMP Securities reaffirmed a “market outperform” rating and set a $550.00 price objective on shares of Meta Platforms in a report on Monday, April 22nd. KeyCorp upped their price objective on shares of Meta Platforms from $475.00 to $540.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Oppenheimer dropped their price objective on shares of Meta Platforms from $585.00 to $500.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $510.05.

Insider Buying and Selling

In related news, CTO Andrew Bosworth sold 5,058 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total value of $2,386,617.30. Following the completion of the sale, the chief technology officer now owns 15,412 shares of the company’s stock, valued at $7,272,152.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total transaction of $305,370.00. Following the completion of the transaction, the insider now owns 38,398 shares of the company’s stock, valued at $20,043,756. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Andrew Bosworth sold 5,058 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total value of $2,386,617.30. Following the transaction, the chief technology officer now directly owns 15,412 shares of the company’s stock, valued at approximately $7,272,152.20. The disclosure for this sale can be found here. Insiders sold 391,071 shares of company stock valued at $192,834,857 over the last quarter. 13.71% of the stock is owned by company insiders.

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.