Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 8.4% in the 1st quarter, Holdings Channel reports. The institutional investor owned 55,549 shares of the social networking company’s stock after acquiring an additional 4,286 shares during the quarter. Meta Platforms makes up about 1.4% of Tokio Marine Asset Management Co. Ltd.’s investment portfolio, making the stock its 14th biggest position. Tokio Marine Asset Management Co. Ltd.’s holdings in Meta Platforms were worth $26,973,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Better Money Decisions LLC acquired a new stake in shares of Meta Platforms in the 1st quarter valued at about $280,000. Presilium Private Wealth LLC boosted its holdings in shares of Meta Platforms by 37.7% in the first quarter. Presilium Private Wealth LLC now owns 1,201 shares of the social networking company’s stock valued at $583,000 after acquiring an additional 329 shares during the period. Mitchell Mcleod Pugh & Williams Inc. grew its position in shares of Meta Platforms by 16.1% during the first quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 3,304 shares of the social networking company’s stock worth $1,604,000 after acquiring an additional 459 shares during the last quarter. Crown Wealth Group LLC grew its position in shares of Meta Platforms by 13.3% during the first quarter. Crown Wealth Group LLC now owns 1,887 shares of the social networking company’s stock worth $916,000 after acquiring an additional 221 shares during the last quarter. Finally, Hunter Associates Investment Management LLC increased its holdings in shares of Meta Platforms by 5.4% in the 1st quarter. Hunter Associates Investment Management LLC now owns 2,093 shares of the social networking company’s stock valued at $1,017,000 after acquiring an additional 107 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Down 2.0 %

META opened at $529.32 on Tuesday. The stock has a market capitalization of $1.34 trillion, a price-to-earnings ratio of 30.40, a price-to-earnings-growth ratio of 1.40 and a beta of 1.21. Meta Platforms, Inc. has a 12 month low of $274.38 and a 12 month high of $542.81. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. The business has a 50-day moving average of $486.29 and a two-hundred day moving average of $462.92.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 32.06% and a return on equity of 32.03%. On average, research analysts expect that Meta Platforms, Inc. will post 20.15 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were issued a dividend of $0.50 per share. The ex-dividend date was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.38%. Meta Platforms’s payout ratio is 11.49%.

Insider Buying and Selling

In other news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $431.05, for a total value of $252,164.25. Following the transaction, the insider now directly owns 36,643 shares in the company, valued at approximately $15,794,965.15. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, COO Javier Olivan sold 412 shares of the stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $472.70, for a total value of $194,752.40. Following the completion of the sale, the chief operating officer now owns 15,376 shares of the company’s stock, valued at $7,268,235.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total transaction of $252,164.25. Following the transaction, the insider now owns 36,643 shares in the company, valued at approximately $15,794,965.15. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 260,047 shares of company stock valued at $127,838,805. 13.71% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

META has been the topic of a number of recent research reports. Guggenheim dropped their price objective on shares of Meta Platforms from $520.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Rosenblatt Securities upped their price target on Meta Platforms from $520.00 to $562.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. The Goldman Sachs Group lowered their price objective on shares of Meta Platforms from $555.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Stifel Nicolaus upped their price objective on shares of Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, Canaccord Genuity Group lowered their target price on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a report 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $511.88.

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.