BI Asset Management Fondsmaeglerselskab A S Has $390.17 Million Stock Position in Meta Platforms, Inc. $META

BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 7.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 533,178 shares of the social networking company’s stock after purchasing an additional 37,593 shares during the quarter. Meta Platforms accounts for about 3.8% of BI Asset Management Fondsmaeglerselskab A S’s investment portfolio, making the stock its 4th biggest position. BI Asset Management Fondsmaeglerselskab A S’s holdings in Meta Platforms were worth $390,173,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Kingstone Capital Partners Texas LLC increased its position in shares of Meta Platforms by 608,429.2% during the second quarter. Kingstone Capital Partners Texas LLC now owns 59,775,823 shares of the social networking company’s stock valued at $44,119,937,000 after purchasing an additional 59,766,000 shares during the period. Norges Bank bought a new stake in Meta Platforms in the 2nd quarter valued at $23,155,393,000. Laurel Wealth Advisors LLC increased its holdings in Meta Platforms by 73,443.1% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 8,417,003 shares of the social networking company’s stock valued at $6,212,506,000 after buying an additional 8,405,558 shares during the period. State Street Corp lifted its holdings in shares of Meta Platforms by 1.9% during the 2nd quarter. State Street Corp now owns 86,925,674 shares of the social networking company’s stock worth $64,158,971,000 after acquiring an additional 1,650,435 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Meta Platforms by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 192,591,101 shares of the social networking company’s stock valued at $142,149,566,000 after acquiring an additional 1,532,568 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Insider Activity

In related news, CAO Aaron Anderson sold 726 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $591.60, for a total value of $429,501.60. Following the transaction, the chief accounting officer owned 6,035 shares in the company, valued at $3,570,306. This trade represents a 10.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Javier Olivan sold 2,610 shares of the business’s stock in a transaction dated Saturday, November 15th. The stock was sold at an average price of $609.46, for a total value of $1,590,690.60. Following the sale, the chief operating officer directly owned 9,784 shares of the company’s stock, valued at $5,962,956.64. This represents a 21.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 41,959 shares of company stock worth $26,578,191. 13.61% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on META shares. BNP Paribas Exane started coverage on shares of Meta Platforms in a research report on Monday, November 24th. They issued an “outperform” rating and a $800.00 price target for the company. KeyCorp dropped their target price on Meta Platforms from $905.00 to $875.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. Stifel Nicolaus decreased their price target on Meta Platforms from $900.00 to $875.00 and set a “buy” rating on the stock in a research note on Thursday, October 30th. Rosenblatt Securities reiterated a “buy” rating and issued a $1,117.00 price target on shares of Meta Platforms in a research report on Friday, December 5th. Finally, Jefferies Financial Group cut their price objective on Meta Platforms from $950.00 to $910.00 and set a “buy” rating for the company in a report on Thursday, October 30th. Four research analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $819.46.

Meta Platforms Stock Performance

Shares of NASDAQ:META opened at $644.23 on Friday. The business has a fifty day moving average of $665.92 and a 200-day moving average of $706.78. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.98 and a current ratio of 1.98. Meta Platforms, Inc. has a twelve month low of $479.80 and a twelve month high of $796.25. The firm has a market cap of $1.62 trillion, a PE ratio of 28.46, a price-to-earnings-growth ratio of 1.37 and a beta of 1.28.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, October 29th. The social networking company reported $7.25 EPS for the quarter, topping analysts’ consensus estimates of $6.74 by $0.51. Meta Platforms had a net margin of 30.89% and a return on equity of 39.35%. The firm had revenue of $51.24 billion for the quarter, compared to analyst estimates of $49.34 billion. During the same quarter in the prior year, the firm earned $6.03 EPS. The company’s revenue was up 26.2% on a year-over-year basis. On average, equities research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Monday, December 15th will be given a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.3%. The ex-dividend date is Monday, December 15th. Meta Platforms’s payout ratio is 9.28%.

About Meta Platforms

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.