ABN Amro Investment Solutions Buys 73,497 Shares of Meta Platforms, Inc. $META

ABN Amro Investment Solutions raised its position in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 138.6% during the fourth quarter, HoldingsChannel reports. The fund owned 126,519 shares of the social networking company’s stock after acquiring an additional 73,497 shares during the quarter. Meta Platforms accounts for approximately 1.2% of ABN Amro Investment Solutions’ investment portfolio, making the stock its 15th largest holding. ABN Amro Investment Solutions’ holdings in Meta Platforms were worth $83,514,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Meta Platforms by 3.8% during the fourth quarter. Vanguard Group Inc. now owns 199,995,630 shares of the social networking company’s stock valued at $132,015,115,000 after buying an additional 7,269,279 shares during the last quarter. State Street Corp grew its stake in shares of Meta Platforms by 1.9% during the second quarter. State Street Corp now owns 86,925,674 shares of the social networking company’s stock valued at $64,158,971,000 after buying an additional 1,650,435 shares during the last quarter. Danske Bank A S bought a new position in shares of Meta Platforms during the third quarter valued at approximately $1,191,175,000. PFA Pension Forsikringsaktieselskab bought a new position in shares of Meta Platforms during the fourth quarter valued at approximately $813,994,000. Finally, Concentrum Wealth Management grew its stake in shares of Meta Platforms by 948.7% during the third quarter. Concentrum Wealth Management now owns 1,243,577 shares of the social networking company’s stock valued at $913,000 after buying an additional 1,124,998 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Down 0.4%

META stock opened at $632.51 on Friday. The firm has a 50 day moving average of $617.84 and a 200 day moving average of $636.88. The stock has a market capitalization of $1.60 trillion, a PE ratio of 22.99, a price-to-earnings-growth ratio of 1.13 and a beta of 1.25. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.24. Meta Platforms, Inc. has a 52 week low of $520.26 and a 52 week high of $796.25.

Meta Platforms (NASDAQ:METAGet Free Report) last released its earnings results on Wednesday, April 29th. The social networking company reported $10.44 EPS for the quarter, topping analysts’ consensus estimates of $6.67 by $3.77. The company had revenue of $56.31 billion during the quarter, compared to analysts’ expectations of $55.56 billion. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. Meta Platforms’s revenue for the quarter was up 33.1% on a year-over-year basis. During the same period last year, the business earned $6.43 EPS. Sell-side analysts forecast that Meta Platforms, Inc. will post 29.35 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Monday, June 15th will be given a dividend of $0.525 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. Meta Platforms’s payout ratio is currently 7.63%.

More Meta Platforms News

Here are the key news stories impacting Meta Platforms this week:

Insider Transactions at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 7,847 shares of Meta Platforms stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $607.83, for a total transaction of $4,769,642.01. Following the completion of the sale, the chief technology officer owned 414 shares of the company’s stock, valued at approximately $251,641.62. The trade was a 94.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Susan J. Li sold 9,195 shares of Meta Platforms stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $607.84, for a total value of $5,589,088.80. Following the sale, the chief financial officer directly owned 13,186 shares of the company’s stock, valued at approximately $8,014,978.24. This represents a 41.08% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 42,445 shares of company stock worth $26,306,420. 13.53% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on META. Royal Bank Of Canada restated an “outperform” rating and issued a $810.00 price target on shares of Meta Platforms in a report on Thursday, April 30th. Morgan Stanley cut their price target on shares of Meta Platforms from $825.00 to $775.00 and set an “overweight” rating on the stock in a report on Monday, March 30th. Piper Sandler reissued an “overweight” rating and issued a $800.00 price objective (down from $880.00) on shares of Meta Platforms in a research note on Thursday, April 30th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $725.00 price objective (down from $825.00) on shares of Meta Platforms in a research note on Thursday, April 30th. Finally, Guggenheim dropped their price objective on Meta Platforms from $850.00 to $800.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $840.19.

Read Our Latest Stock Report on Meta Platforms

About Meta Platforms

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

See Also

Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:METAFree Report).

Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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