AIA Group Ltd Has $49.60 Million Position in Meta Platforms, Inc. (NASDAQ:META)

AIA Group Ltd raised its stake in Meta Platforms, Inc. (NASDAQ:META) by 5.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 86,644 shares of the social networking company’s stock after buying an additional 4,721 shares during the quarter. Meta Platforms accounts for about 1.3% of AIA Group Ltd’s holdings, making the stock its 16th biggest position. AIA Group Ltd’s holdings in Meta Platforms were worth $49,598,000 as of its most recent filing with the SEC.

A number of other hedge funds and 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% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after acquiring an additional 58 shares in the last quarter. POM Investment Strategies LLC bought a new stake in Meta Platforms in the second quarter worth $38,000. Ruedi Wealth Management Inc. raised its holdings in Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after buying an additional 44 shares in the last quarter. Halpern Financial Inc. acquired a new stake in shares of Meta Platforms in the third quarter worth about $46,000. Finally, West Financial Advisors LLC bought a new stake in shares of Meta Platforms during the 3rd quarter worth about $49,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Down 1.0 %

Shares of Meta Platforms stock opened at $583.17 on Tuesday. Meta Platforms, Inc. has a 12 month low of $313.66 and a 12 month high of $602.95. The business has a fifty day simple moving average of $563.02 and a 200 day simple moving average of $517.29. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The stock has a market cap of $1.47 trillion, a PE ratio of 27.47, a price-to-earnings-growth ratio of 1.30 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 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 company had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Research analysts predict that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.34%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is 9.42%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on META shares. Tigress Financial boosted 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. Scotiabank lowered their target price on shares of Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 31st. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a report on Thursday, October 31st. Wedbush reiterated an “outperform” rating and issued a $600.00 price objective on shares of Meta Platforms in a research note on Thursday, September 26th. Finally, Oppenheimer increased their target price on Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. 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 issued a strong buy rating to the company. According to MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and a consensus target price of $634.10.

Insider Activity at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total value of $17,101,342.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Susan J. Li sold 33,018 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total transaction of $17,101,342.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Newstead sold 901 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $567.70, for a total transaction of $511,497.70. Following the completion of the transaction, the insider now owns 30,581 shares of the company’s stock, valued at $17,360,833.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 211,416 shares of company stock worth $112,638,243 in the last quarter. Corporate insiders own 13.71% of the company’s stock.

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.