Norden Group LLC Has $131.80 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Norden Group LLC lifted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 5,912.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 271,414 shares of the social networking company’s stock after acquiring an additional 266,900 shares during the period. Meta Platforms comprises approximately 1.4% of Norden Group LLC’s holdings, making the stock its 10th largest holding. Norden Group LLC’s holdings in Meta Platforms were worth $131,798,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew 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 valued at $65,960,215,000 after purchasing an additional 3,104,550 shares during the last quarter. Capital World Investors boosted its position in Meta Platforms by 2.5% during the 4th quarter. Capital World Investors now owns 38,054,513 shares of the social networking company’s stock valued at $13,469,906,000 after purchasing an additional 927,491 shares during the period. Morgan Stanley grew its stake in Meta Platforms by 3.4% during the 3rd quarter. Morgan Stanley now owns 36,277,772 shares of the social networking company’s stock worth $10,890,950,000 after buying an additional 1,184,978 shares during the last quarter. Capital International Investors increased its position in Meta Platforms by 3.2% in the fourth quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock worth $12,296,383,000 after buying an additional 1,083,719 shares during the period. Finally, Norges Bank bought a new stake in Meta Platforms in the fourth quarter valued at $11,285,855,000. 79.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on META shares. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a research report on Monday. JPMorgan Chase & Co. dropped their price target on shares of Meta Platforms from $535.00 to $480.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. Deutsche Bank Aktiengesellschaft cut their price target on Meta Platforms from $540.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Raymond James increased their price objective on Meta Platforms from $550.00 to $600.00 and gave the stock a “strong-buy” rating in a report on Monday. Finally, Wells Fargo & Company cut their target price on Meta Platforms from $609.00 to $600.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 3rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $511.27.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $509.96 on Friday. The company’s fifty day moving average is $482.42 and its two-hundred day moving average is $458.78. The company has a market cap of $1.29 trillion, a P/E ratio of 29.29, a price-to-earnings-growth ratio of 1.32 and a beta of 1.21. Meta Platforms, Inc. has a 12-month low of $274.38 and a 12-month high of $531.49. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. The business had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. Equities analysts expect that Meta Platforms, Inc. will post 20.15 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

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

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 2,011 shares of the stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $500.92, for a total value of $1,007,350.12. Following the completion of the sale, the chief executive officer now owns 318,932 shares in the company, valued at approximately $159,759,417.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total value of $305,370.00. Following the completion of the sale, the insider now owns 38,398 shares of the company’s stock, valued at approximately $20,043,756. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Mark Zuckerberg sold 2,011 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $500.92, for a total transaction of $1,007,350.12. Following the transaction, the chief executive officer now directly owns 318,932 shares in the company, valued at approximately $159,759,417.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 251,905 shares of company stock valued at $123,528,726. 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.