Meta Platforms, Inc. (NASDAQ:META) is MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s 4th Largest Position

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH decreased its position in Meta Platforms, Inc. (NASDAQ:META) by 6.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 132,362 shares of the social networking company’s stock after selling 8,657 shares during the period. Meta Platforms comprises approximately 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 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Kennedy Capital Management LLC raised its position in shares of Meta Platforms by 18.8% in the third quarter. Kennedy Capital Management LLC now owns 13,847 shares of the social networking company’s stock valued at $4,157,000 after purchasing an additional 2,189 shares during the period. KADENSA CAPITAL Ltd purchased a new stake in shares of Meta Platforms during the third quarter worth $9,548,000. Jericho Capital Asset Management L.P. grew its position in shares of Meta Platforms by 88.4% in the third quarter. Jericho Capital Asset Management L.P. now owns 1,084,963 shares of the social networking company’s stock valued at $325,717,000 after purchasing an additional 509,000 shares in the last quarter. Jackson Wealth Management LLC bought a new stake in shares of Meta Platforms during the 3rd quarter valued at $201,000. Finally, JT Stratford LLC lifted its holdings in Meta Platforms by 22.0% during the 3rd quarter. JT Stratford LLC now owns 12,876 shares of the social networking company’s stock worth $3,866,000 after purchasing an additional 2,318 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Sheryl Sandberg sold 105,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total transaction of $50,054,550.00. Following the transaction, the director now directly owns 630,293 shares of the company’s stock, valued at $300,466,976.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Sheryl Sandberg sold 105,000 shares of Meta Platforms stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $476.71, for a total value of $50,054,550.00. Following the sale, the director now owns 630,293 shares in the company, valued at $300,466,976.03. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 2,011 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $500.92, for a total transaction of $1,007,350.12. Following the completion of the sale, the chief executive officer now directly owns 318,932 shares of the company’s stock, valued at $159,759,417.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 218,086 shares of company stock worth $106,423,370. 13.71% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on META. Wells Fargo & Company reduced their target price on Meta Platforms from $609.00 to $600.00 and set an “overweight” rating for the company in a report on Wednesday, April 3rd. Jefferies Financial Group reduced their price objective on shares of Meta Platforms from $585.00 to $540.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Wedbush lowered their target price on shares of Meta Platforms from $570.00 to $480.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Piper Sandler restated an “overweight” rating and set a $545.00 price target (down from $600.00) on shares of Meta Platforms in a research report on Thursday, April 25th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $450.00 price objective on shares of Meta Platforms in a research report on Wednesday, June 12th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus target price of $511.27.

Meta Platforms Trading Up 1.0 %

NASDAQ:META opened at $509.50 on Wednesday. The firm has a market capitalization of $1.29 trillion, a P/E ratio of 29.26, a P/E/G ratio of 1.31 and a beta of 1.21. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The company has a fifty day moving average of $480.72 and a 200 day moving average of $458.05. Meta Platforms, Inc. has a 52 week low of $274.38 and a 52 week high of $531.49.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data 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 for the quarter, compared to analysts’ expectations 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 predict that Meta Platforms, Inc. will post 20.16 earnings per share for the current year.

Meta Platforms Announces Dividend

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

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.