Factory Mutual Insurance Co. grew its holdings in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 2.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 350,041 shares of the social networking company’s stock after acquiring an additional 9,051 shares during the quarter. Meta Platforms comprises 2.1% of Factory Mutual Insurance Co.’s investment portfolio, making the stock its 9th biggest holding. Factory Mutual Insurance Co.’s holdings in Meta Platforms were worth $200,377,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in Meta Platforms by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock worth $90,891,055,000 after buying an additional 831,047 shares during the last quarter. Capital World Investors boosted its holdings in shares of Meta Platforms by 0.6% in the first quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock valued at $18,597,382,000 after acquiring an additional 244,803 shares during the period. Capital Research Global Investors grew its position in shares of Meta Platforms by 14.5% during the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock worth $16,799,612,000 after acquiring an additional 4,379,826 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Meta Platforms by 24.7% in the 1st quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock valued at $6,733,731,000 after acquiring an additional 2,748,620 shares during the period. Finally, GQG Partners LLC raised its position in Meta Platforms by 3.1% in the 1st quarter. GQG Partners LLC now owns 11,497,335 shares of the social networking company’s stock valued at $5,582,876,000 after purchasing an additional 342,742 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have commented on META shares. Roth Mkm lifted their price objective on shares of Meta Platforms from $550.00 to $620.00 and gave the company a “buy” rating in a research note on Friday. Pivotal Research started coverage on Meta Platforms in a research note on Tuesday, October 1st. They set a “buy” rating and a $780.00 price objective for the company. BMO Capital Markets increased their price objective on Meta Platforms from $475.00 to $525.00 and gave the stock a “market perform” rating in a research report on Wednesday. Cantor Fitzgerald reissued an “overweight” rating and issued a $660.00 target price on shares of Meta Platforms in a report on Monday, October 7th. Finally, Barclays increased their price target on Meta Platforms from $520.00 to $550.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $609.71.
Meta Platforms Trading Up 1.0 %
Shares of NASDAQ:META traded up $6.12 during trading on Friday, reaching $589.95. The stock had a trading volume of 8,587,051 shares, compared to its average volume of 15,361,877. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The stock has a market cap of $1.50 trillion, a P/E ratio of 33.89, a PEG ratio of 1.45 and a beta of 1.22. The business has a fifty day moving average price of $538.12 and a 200-day moving average price of $505.59. Meta Platforms, Inc. has a fifty-two week low of $279.40 and a fifty-two week high of $602.95.
Meta Platforms (NASDAQ:META – Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.23 EPS. As a group, analysts anticipate that Meta Platforms, Inc. will post 21.37 earnings per share for the current fiscal year.
Meta Platforms Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.34%. Meta Platforms’s dividend payout ratio is presently 11.49%.
Insider Activity at Meta Platforms
In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $589.89, for a total value of $533,850.45. Following the transaction, the insider now owns 34,197 shares in the company, valued at $20,172,468.33. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Meta Platforms news, CEO Mark Zuckerberg sold 492 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $600.75, for a total transaction of $295,569.00. Following the completion of the sale, the chief executive officer now directly owns 518,508 shares in the company, valued at $311,493,681. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $589.89, for a total transaction of $533,850.45. Following the completion of the transaction, the insider now directly owns 34,197 shares in the company, valued at approximately $20,172,468.33. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 252,443 shares of company stock worth $133,105,284. 13.71% of the stock is owned by company insiders.
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.
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