Elo Mutual Pension Insurance Co Has $103 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Elo Mutual Pension Insurance Co increased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 0.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 204,273 shares of the social networking company’s stock after purchasing an additional 1,463 shares during the quarter. Meta Platforms makes up 2.4% of Elo Mutual Pension Insurance Co’s investment portfolio, making the stock its 6th biggest holding. Elo Mutual Pension Insurance Co’s holdings in Meta Platforms were worth $102,999,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Delos Wealth Advisors LLC increased its stake in shares of Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after buying an additional 58 shares during the period. POM Investment Strategies LLC bought a new stake in Meta Platforms in the second quarter valued at approximately $38,000. Ruedi Wealth Management Inc. increased its position in Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 44 shares during the period. Richardson Financial Services Inc. raised its holdings in Meta Platforms by 95.6% during the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after purchasing an additional 43 shares during the last quarter. Finally, Quest Partners LLC acquired a new position in shares of Meta Platforms in the 4th quarter worth approximately $32,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

META has been the subject of several recent analyst reports. Wells Fargo & Company increased their price objective on shares of Meta Platforms from $625.00 to $647.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Royal Bank of Canada reissued an “outperform” rating and issued a $570.00 price objective on shares of Meta Platforms in a research report on Thursday, August 1st. Bank of America upped their target price on Meta Platforms from $550.00 to $563.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Robert W. Baird lifted their target price on Meta Platforms from $500.00 to $530.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Finally, TD Cowen increased their price target on Meta Platforms from $530.00 to $600.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-four have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $577.26.

Insiders Place Their Bets

In related news, CFO Susan J. Li sold 33,018 shares of the company’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Meta Platforms news, CEO Mark Zuckerberg sold 9,760 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $502.87, for a total transaction of $4,908,011.20. Following the transaction, the chief executive officer now owns 247,915 shares in the company, valued at approximately $124,669,016.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $17,101,342.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 356,426 shares of company stock worth $185,053,425. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $561.35 on Friday. The company has a 50 day moving average of $506.33 and a 200 day moving average of $496.78. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. The stock has a market cap of $1.42 trillion, a P/E ratio of 32.24, a P/E/G ratio of 1.26 and a beta of 1.21. Meta Platforms, Inc. has a 12 month low of $279.40 and a 12 month high of $564.50.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. Meta Platforms’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period last year, the firm posted $3.23 EPS. As a group, sell-side analysts forecast that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Monday, September 16th will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.36%. Meta Platforms’s dividend payout ratio is presently 11.49%.

Meta Platforms 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.