Tokio Marine Asset Management Co. Ltd. Buys 24,961 Shares of Meta Platforms, Inc. (NASDAQ:META)

Tokio Marine Asset Management Co. Ltd. raised its stake in Meta Platforms, Inc. (NASDAQ:META) by 41.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 85,759 shares of the social networking company’s stock after purchasing an additional 24,961 shares during the period. Meta Platforms comprises 1.8% of Tokio Marine Asset Management Co. Ltd.’s portfolio, making the stock its 10th largest holding. Tokio Marine Asset Management Co. Ltd.’s holdings in Meta Platforms were worth $50,213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in META. Ballentine Partners LLC grew its position in Meta Platforms by 1.4% during the 4th quarter. Ballentine Partners LLC now owns 58,218 shares of the social networking company’s stock worth $34,087,000 after purchasing an additional 808 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of Meta Platforms by 0.6% during the fourth quarter. UMB Bank n.a. now owns 140,585 shares of the social networking company’s stock worth $82,314,000 after buying an additional 897 shares during the period. Charles Schwab Investment Management Inc. increased its position in Meta Platforms by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock valued at $7,915,451,000 after acquiring an additional 118,298 shares during the period. LS Investment Advisors LLC raised its stake in Meta Platforms by 111.4% during the 3rd quarter. LS Investment Advisors LLC now owns 11,679 shares of the social networking company’s stock valued at $6,686,000 after acquiring an additional 6,155 shares during the last quarter. Finally, Cutter & CO Brokerage Inc. lifted its position in Meta Platforms by 0.7% during the 3rd quarter. Cutter & CO Brokerage Inc. now owns 9,735 shares of the social networking company’s stock worth $5,573,000 after acquiring an additional 65 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 413 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $562.77, for a total value of $232,424.01. Following the completion of the sale, the chief operating officer now owns 19,579 shares of the company’s stock, valued at $11,018,473.83. This trade represents a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 12,975 shares of Meta Platforms stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $706.72, for a total transaction of $9,169,692.00. Following the sale, the chief executive officer now owns 172,046 shares in the company, valued at $121,588,349.12. This represents a 7.01 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 700,241 shares of company stock worth $434,752,368. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Stock Performance

Shares of META stock opened at $704.87 on Thursday. The firm has a market capitalization of $1.78 trillion, a price-to-earnings ratio of 29.47, a price-to-earnings-growth ratio of 1.47 and a beta of 1.20. The company has a 50 day moving average price of $621.57 and a 200 day moving average price of $571.15. Meta Platforms, Inc. has a one year low of $414.50 and a one year high of $718.14. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, beating the consensus estimate of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same period last year, the company posted $5.33 EPS. Sell-side analysts anticipate that Meta Platforms, Inc. will post 25.94 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s dividend payout ratio is presently 8.36%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. JMP Securities reissued a “market outperform” rating and issued a $750.00 target price on shares of Meta Platforms in a report on Monday, January 27th. Susquehanna upped their price objective on shares of Meta Platforms from $675.00 to $800.00 and gave the stock a “positive” rating in a research report on Thursday, January 30th. Oppenheimer raised their target price on shares of Meta Platforms from $650.00 to $800.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Scotiabank increased their target price on Meta Platforms from $583.00 to $627.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 30th. Finally, Piper Sandler lifted their price target on Meta Platforms from $670.00 to $775.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average price target of $710.83.

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.