AMF Tjanstepension AB Makes New $114.67 Million Investment in Meta Platforms, Inc. (NASDAQ:META)

AMF Tjanstepension AB acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:META) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 236,109 shares of the social networking company’s stock, valued at approximately $114,666,000. Meta Platforms comprises 0.9% of AMF Tjanstepension AB’s portfolio, making the stock its 27th largest holding.

Several other hedge funds have also recently bought and sold shares of META. Norges Bank bought a new position in shares of Meta Platforms during the fourth quarter worth approximately $11,285,855,000. International Assets Investment Management LLC increased its holdings in shares of 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 purchasing an additional 4,908,251 shares during the period. Capital Research Global Investors increased its holdings in shares of Meta Platforms by 17.2% during the fourth quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock worth $10,695,722,000 after purchasing an additional 4,440,229 shares during the period. Concentrum Wealth Management increased its holdings in shares of Meta Platforms by 111.0% during the fourth quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after purchasing an additional 3,888,308 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Meta Platforms by 1.7% during the fourth 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.

Meta Platforms Trading Down 3.0 %

NASDAQ:META opened at $504.22 on Friday. 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 firm has a 50-day moving average of $480.00 and a 200-day moving average of $453.93. The company has a market cap of $1.28 trillion, a PE ratio of 28.96, a PEG ratio of 1.35 and a beta of 1.21. Meta Platforms, Inc. has a one year low of $274.38 and a one year high of $531.49.

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

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date was Friday, June 14th. Meta Platforms’s payout ratio is 11.49%.

Analysts Set New Price Targets

META has been the topic of several recent research reports. Citigroup lowered their target price on shares of Meta Platforms from $590.00 to $550.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Canaccord Genuity Group decreased their price objective on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Piper Sandler reissued an “overweight” rating and issued a $545.00 price objective (down from $600.00) on shares of Meta Platforms in a research note on Thursday, April 25th. Wolfe Research decreased their price objective on shares of Meta Platforms from $530.00 to $500.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $450.00 price objective on shares of Meta Platforms in a research note on Wednesday, June 12th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $510.05.

Insiders Place Their Bets

In other Meta Platforms news, COO Javier Olivan sold 412 shares of the company’s stock in a transaction dated 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 directly owns 15,376 shares of the company’s stock, valued at approximately $7,268,235.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $510.88, for a total value of $8,532,717.76. Following the transaction, the chief executive officer now directly owns 230,461 shares in the company, valued at $117,737,915.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Javier Olivan sold 412 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $472.70, for a total transaction of $194,752.40. Following the completion of the transaction, the chief operating officer now owns 15,376 shares in the company, valued at $7,268,235.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 233,512 shares of company stock valued at $113,597,536. Corporate insiders own 13.71% of the company’s stock.

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.