Meta Platforms, Inc. (NASDAQ:META) Stock Holdings Lessened by MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lessened its stake in Meta Platforms, Inc. (NASDAQ:META) by 6.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 132,362 shares of the social networking company’s stock after selling 8,657 shares during the quarter. Meta Platforms makes up about 2.3% of MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s portfolio, making the stock its 4th biggest holding. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Meta Platforms were worth $64,272,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in META. Norges Bank purchased a new position in Meta Platforms in the 4th quarter worth approximately $11,285,855,000. International Assets Investment Management LLC increased its stake in Meta Platforms by 11,154.4% during the fourth quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company’s stock worth $1,752,900,000 after acquiring an additional 4,908,251 shares during the last quarter. Capital Research Global Investors raised its position in Meta Platforms by 17.2% in the fourth quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock valued at $10,695,722,000 after purchasing an additional 4,440,229 shares during the period. Concentrum Wealth Management lifted its stake in shares of Meta Platforms by 111.0% in the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock valued at $2,616,000 after purchasing an additional 3,888,308 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Meta Platforms by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock worth $65,960,215,000 after purchasing an additional 3,104,550 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 2,011 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $500.92, for a total value of $1,007,350.12. Following the completion of the transaction, the chief executive officer now directly owns 318,932 shares of the company’s stock, valued at approximately $159,759,417.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark Zuckerberg sold 2,011 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $500.92, for a total value of $1,007,350.12. Following the completion of the sale, the chief executive officer now owns 318,932 shares in the company, valued at $159,759,417.44. The disclosure for this sale can be found here. Insiders have sold 218,086 shares of company stock valued at $106,423,370 over the last quarter. Company insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on META. Wolfe Research decreased their target price on shares of Meta Platforms from $530.00 to $500.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. KeyCorp increased their price objective on shares of Meta Platforms from $475.00 to $540.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. The Goldman Sachs Group cut their target price on Meta Platforms from $555.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Oppenheimer lowered their price target on Meta Platforms from $585.00 to $500.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Finally, Jefferies Financial Group decreased their target price on Meta Platforms from $585.00 to $540.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average target price of $511.27.

Meta Platforms Price Performance

META stock opened at $509.50 on Wednesday. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $1.29 trillion, a P/E ratio of 29.26, a PEG ratio of 1.31 and a beta of 1.21. The business has a 50 day simple moving average of $480.72 and a 200-day simple moving average of $458.05. Meta Platforms, Inc. has a twelve month low of $274.38 and a twelve month high of $531.49.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.32 by $0.39. The firm had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 20.16 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s dividend payout ratio is presently 11.49%.

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.