AMF Tjanstepension AB Acquires New Holdings in Meta Platforms, Inc. (NASDAQ:META)

AMF Tjanstepension AB acquired a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) during the first quarter, HoldingsChannel reports. The fund acquired 236,109 shares of the social networking company’s stock, valued at approximately $114,666,000. Meta Platforms accounts for 0.9% of AMF Tjanstepension AB’s investment portfolio, making the stock its 27th biggest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Baird Financial Group Inc. lifted its position in Meta Platforms by 24.2% during the fourth quarter. Baird Financial Group Inc. now owns 835,972 shares of the social networking company’s stock valued at $295,901,000 after purchasing an additional 163,067 shares during the period. California State Teachers Retirement System increased its holdings in Meta Platforms by 1.5% during the fourth quarter. California State Teachers Retirement System now owns 3,576,285 shares of the social networking company’s stock valued at $1,265,862,000 after buying an additional 51,900 shares during the last quarter. Donoghue Forlines LLC increased its holdings in Meta Platforms by 94.4% during the fourth quarter. Donoghue Forlines LLC now owns 8,349 shares of the social networking company’s stock valued at $2,955,000 after buying an additional 4,054 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in Meta Platforms by 7.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company’s stock valued at $159,841,000 after buying an additional 32,423 shares during the last quarter. Finally, Voyager Global Management LP increased its holdings in Meta Platforms by 37.3% during the fourth quarter. Voyager Global Management LP now owns 515,000 shares of the social networking company’s stock valued at $182,289,000 after buying an additional 140,000 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

META has been the subject of a number of research reports. KeyCorp upped their target price on shares of Meta Platforms from $475.00 to $540.00 and gave the company an “overweight” rating in a report on Thursday, June 20th. Canaccord Genuity Group reduced their target price on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Meta Platforms from $540.00 to $500.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Stifel Nicolaus increased their price objective on shares of Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, Loop Capital reduced their price objective on shares of Meta Platforms from $555.00 to $550.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Two equities research 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 issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $510.05.

Meta Platforms Price Performance

Meta Platforms stock opened at $504.22 on Friday. The firm has a 50-day moving average price of $480.00 and a 200-day moving average price of $453.93. The firm has a market capitalization of $1.28 trillion, a PE ratio of 28.96, a price-to-earnings-growth ratio of 1.35 and a beta of 1.21. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 12-month low of $274.38 and a 12-month high of $531.49.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.32 by $0.39. The company had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. As a group, equities research analysts forecast that Meta Platforms, Inc. will post 20.16 EPS for the current 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 paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.40%. The ex-dividend date was Friday, June 14th. Meta Platforms’s dividend payout ratio is presently 11.49%.

Insider Buying and Selling

In other news, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction that occurred on 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 owns 230,461 shares of the company’s stock, valued at approximately $117,737,915.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction that occurred on 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 owns 230,461 shares of the company’s stock, valued at approximately $117,737,915.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $431.05, for a total transaction of $252,164.25. Following the completion of the transaction, the insider now directly owns 36,643 shares in the company, valued at approximately $15,794,965.15. The disclosure for this sale can be found here. Insiders have sold 233,512 shares of company stock valued at $113,597,536 in the last 90 days. Company 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.