ASR Vermogensbeheer N.V. raised its position in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 2.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 250,837 shares of the social networking company’s stock after acquiring an additional 5,698 shares during the period. Meta Platforms makes up 2.4% of ASR Vermogensbeheer N.V.’s portfolio, making the stock its 7th biggest position. ASR Vermogensbeheer N.V.’s holdings in Meta Platforms were worth $185,138,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in META. Kingstone Capital Partners Texas LLC boosted its position in shares of Meta Platforms by 608,429.2% in the second quarter. Kingstone Capital Partners Texas LLC now owns 59,775,823 shares of the social networking company’s stock worth $44,119,937,000 after buying an additional 59,766,000 shares during the period. Nuveen LLC purchased a new stake in shares of Meta Platforms in the first quarter worth about $2,990,544,000. Assenagon Asset Management S.A. boosted its position in shares of Meta Platforms by 712.2% in the first quarter. Assenagon Asset Management S.A. now owns 2,537,631 shares of the social networking company’s stock worth $1,462,589,000 after buying an additional 2,225,186 shares during the period. Amundi boosted its position in shares of Meta Platforms by 23.5% in the first quarter. Amundi now owns 7,733,061 shares of the social networking company’s stock worth $4,111,050,000 after buying an additional 1,470,070 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of Meta Platforms by 8.8% in the first quarter. Goldman Sachs Group Inc. now owns 15,575,962 shares of the social networking company’s stock worth $8,977,361,000 after buying an additional 1,255,546 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.
Meta Platforms Trading Up 2.2%
Shares of NASDAQ META opened at $733.51 on Friday. The stock’s 50 day moving average price is $753.09 and its two-hundred day moving average price is $678.22. Meta Platforms, Inc. has a 52-week low of $479.80 and a 52-week high of $796.25. The stock has a market capitalization of $1.84 trillion, a P/E ratio of 26.56, a PEG ratio of 1.50 and a beta of 1.20. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.15.
Meta Platforms Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 22nd were given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, September 22nd. Meta Platforms’s dividend payout ratio is presently 7.60%.
Analyst Upgrades and Downgrades
META has been the subject of several analyst reports. KeyCorp upped their target price on Meta Platforms from $800.00 to $905.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Needham & Company LLC raised Meta Platforms from an “underperform” rating to a “hold” rating in a research report on Thursday, July 3rd. Canaccord Genuity Group upped their target price on Meta Platforms from $825.00 to $850.00 and gave the stock a “buy” rating in a research report on Wednesday, July 16th. Loop Capital reiterated a “buy” rating and issued a $980.00 price target (up previously from $888.00) on shares of Meta Platforms in a research note on Tuesday, August 5th. Finally, Robert W. Baird boosted their price target on Meta Platforms from $635.00 to $740.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. Four analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $830.68.
Read Our Latest Report on Meta Platforms
Insider Transactions at Meta Platforms
In other news, Director Robert M. Kimmitt sold 465 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $757.47, for a total transaction of $352,223.55. Following the sale, the director directly owned 8,412 shares in the company, valued at approximately $6,371,837.64. This represents a 5.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Javier Olivan sold 517 shares of the stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $704.81, for a total value of $364,386.77. Following the sale, the chief operating officer owned 9,509 shares in the company, valued at $6,702,038.29. The trade was a 5.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 214,182 shares of company stock worth $164,946,219. 13.61% of the stock is currently owned by company 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.
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