E. Ohman J or Asset Management AB Has $59.78 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

E. Ohman J or Asset Management AB lowered its holdings in Meta Platforms, Inc. (NASDAQ:META) by 6.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 104,438 shares of the social networking company’s stock after selling 7,673 shares during the quarter. Meta Platforms accounts for about 1.5% of E. Ohman J or Asset Management AB’s investment portfolio, making the stock its 14th largest position. E. Ohman J or Asset Management AB’s holdings in Meta Platforms were worth $59,784,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in META. Delos Wealth Advisors LLC grew its position in Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after buying an additional 58 shares in the last quarter. POM Investment Strategies LLC bought a new stake in shares of Meta Platforms in the 2nd quarter worth approximately $38,000. Ruedi Wealth Management Inc. grew its holdings in shares of 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 purchasing an additional 44 shares in the last quarter. Richardson Financial Services Inc. increased its position in shares of Meta Platforms by 95.6% during the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after purchasing an additional 43 shares during the period. Finally, Kathleen S. Wright Associates Inc. acquired a new position in shares of Meta Platforms in the first quarter valued at $44,000. 79.91% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Mark Zuckerberg sold 492 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $600.75, for a total transaction of $295,569.00. Following the sale, the chief executive officer now owns 518,508 shares of the company’s stock, valued at $311,493,681. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Mark Zuckerberg sold 492 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $600.75, for a total value of $295,569.00. Following the sale, the chief executive officer now directly owns 518,508 shares of the company’s stock, valued at approximately $311,493,681. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Susan J. Li sold 8,950 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the completion of the transaction, the chief financial officer now directly owns 74,579 shares of the company’s stock, valued at approximately $39,285,234.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 250,817 shares of company stock worth $132,547,715. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

Shares of META stock opened at $573.25 on Monday. The stock has a market cap of $1.45 trillion, a PE ratio of 29.26, a price-to-earnings-growth ratio of 1.42 and a beta of 1.22. The stock has a 50-day moving average of $551.05 and a 200-day moving average of $510.65. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $602.95.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.70 by $0.46. The firm had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business’s quarterly revenue was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.23 earnings per share. As a group, sell-side analysts expect that Meta Platforms, Inc. will post 21.44 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s payout ratio is presently 10.21%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Morgan Stanley boosted their price target on shares of Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Guggenheim upped their target price on shares of Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Royal Bank of Canada restated an “outperform” rating and set a $570.00 price target on shares of Meta Platforms in a research note on Thursday, August 1st. Jefferies Financial Group upped their price objective on Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, Benchmark restated a “hold” rating on shares of Meta Platforms in a research report on Thursday, July 25th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $621.63.

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.