Meta Platforms, Inc. (NASDAQ:META) is Livforsakringsbolaget Skandia Omsesidigt’s 6th Largest Position

Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 17.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 77,397 shares of the social networking company’s stock after acquiring an additional 11,443 shares during the quarter. Meta Platforms accounts for 2.6% of Livforsakringsbolaget Skandia Omsesidigt’s portfolio, making the stock its 6th largest position. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Meta Platforms were worth $27,395,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Stone House Investment Management LLC grew its position in shares of Meta Platforms by 625.0% in the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after purchasing an additional 75 shares during the period. Gilfoyle & Co LLC purchased a new stake in shares of Meta Platforms in the fourth quarter valued at $39,000. Cranbrook Wealth Management LLC grew its position in shares of Meta Platforms by 80.4% in the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after purchasing an additional 45 shares during the period. Beaird Harris Wealth Management LLC grew its position in Meta Platforms by 68.9% during the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after acquiring an additional 42 shares during the period. Finally, Stephens Investment Management Group LLC purchased a new stake in Meta Platforms during the second quarter valued at about $30,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

META has been the subject of a number of research reports. Susquehanna boosted their price target on Meta Platforms from $400.00 to $550.00 and gave the company a “positive” rating in a research report on Friday, February 2nd. Wells Fargo & Company lowered their price target on shares of Meta Platforms from $609.00 to $600.00 and set an “overweight” rating for the company in a report on Wednesday, April 3rd. KeyCorp raised their price target on shares of Meta Platforms from $465.00 to $575.00 and gave the company an “overweight” rating in a report on Tuesday, January 30th. Piper Sandler raised their price target on shares of Meta Platforms from $525.00 to $600.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Finally, Oppenheimer raised their price target on shares of Meta Platforms from $525.00 to $585.00 and gave the company an “outperform” rating in a report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and an average target price of $518.15.

Meta Platforms Stock Performance

Shares of META opened at $502.87 on Thursday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.67 and a current ratio of 2.67. The company has a market capitalization of $1.28 trillion, a PE ratio of 33.17, a PEG ratio of 1.28 and a beta of 1.20. The company’s 50 day moving average price is $493.65 and its 200 day moving average price is $396.70. Meta Platforms, Inc. has a 52 week low of $207.13 and a 52 week high of $531.49.

Meta Platforms (NASDAQ:META) last posted its earnings results on Thursday, February 1st. The social networking company reported $5.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.82 by $0.51. Meta Platforms had a net margin of 28.98% and a return on equity of 29.48%. The firm had revenue of $40.11 billion during the quarter, compared to analysts’ expectations of $39.12 billion. During the same period in the previous year, the company earned $3.00 earnings per share. The company’s revenue was up 24.7% compared to the same quarter last year. Research analysts expect that Meta Platforms, Inc. will post 20.06 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend was Wednesday, February 21st. Meta Platforms’s payout ratio is 13.42%.

Insider Transactions at Meta Platforms

In other news, COO Javier Olivan sold 490 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $488.03, for a total value of $239,134.70. Following the completion of the sale, the chief operating officer now directly owns 79,944 shares in the company, valued at $39,015,070.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, COO Javier Olivan sold 490 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $488.03, for a total transaction of $239,134.70. Following the completion of the transaction, the chief operating officer now directly owns 79,944 shares in the company, valued at approximately $39,015,070.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 97,093 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $469.67, for a total transaction of $45,601,669.31. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,440,278 shares of company stock worth $684,796,490. 13.75% of the stock is owned by insiders.

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.