Elo Mutual Pension Insurance Co Has $184.13 Million Stock Holdings in Meta Platforms, Inc. $META

Elo Mutual Pension Insurance Co decreased its position in Meta Platforms, Inc. (NASDAQ:META) by 4.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 249,465 shares of the social networking company’s stock after selling 11,600 shares during the period. Meta Platforms comprises approximately 3.8% of Elo Mutual Pension Insurance Co’s portfolio, making the stock its 4th biggest holding. Elo Mutual Pension Insurance Co’s holdings in Meta Platforms were worth $184,128,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in META. Brighton Jones LLC raised its position in Meta Platforms by 1.7% during the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock valued at $20,230,000 after purchasing an additional 570 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of Meta Platforms by 10.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company’s stock valued at $5,537,000 after acquiring an additional 875 shares in the last quarter. Smart Money Group LLC raised its holdings in shares of Meta Platforms by 20.4% during the first quarter. Smart Money Group LLC now owns 2,052 shares of the social networking company’s stock valued at $1,182,000 after acquiring an additional 348 shares in the last quarter. Aspire Growth Partners LLC lifted its stake in Meta Platforms by 7.3% in the first quarter. Aspire Growth Partners LLC now owns 662 shares of the social networking company’s stock worth $395,000 after acquiring an additional 45 shares during the period. Finally, Waddell & Associates LLC boosted its holdings in Meta Platforms by 5.0% in the first quarter. Waddell & Associates LLC now owns 2,508 shares of the social networking company’s stock valued at $1,446,000 after acquiring an additional 119 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 519 shares of Meta Platforms stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $642.22, for a total value of $333,312.18. Following the completion of the sale, the insider owned 30,734 shares of the company’s stock, valued at approximately $19,737,989.48. The trade was a 1.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert M. Kimmitt sold 600 shares of the stock in a transaction on Monday, November 17th. The shares were sold at an average price of $609.35, for a total value of $365,610.00. Following the transaction, the director directly owned 7,347 shares in the company, valued at $4,476,894.45. The trade was a 7.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 41,959 shares of company stock valued at $26,671,107 in the last ninety days. Corporate insiders own 13.61% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on META. Truist Financial decreased their price objective on shares of Meta Platforms from $900.00 to $875.00 and set a “buy” rating for the company in a report on Thursday, October 30th. Canaccord Genuity Group reissued a “buy” rating and issued a $900.00 price target on shares of Meta Platforms in a research note on Thursday, October 30th. BNP Paribas Exane began coverage on shares of Meta Platforms in a report on Monday, November 24th. They issued an “outperform” rating and a $800.00 price objective for the company. Bank of America reduced their target price on Meta Platforms from $900.00 to $810.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. Finally, Wells Fargo & Company decreased their target price on Meta Platforms from $837.00 to $802.00 and set an “overweight” rating for the company in a research 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 eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $819.43.

Meta Platforms Trading Up 3.4%

Shares of NASDAQ:META opened at $661.53 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.98 and a quick ratio of 1.98. Meta Platforms, Inc. has a 1 year low of $479.80 and a 1 year high of $796.25. The company has a market cap of $1.67 trillion, a P/E ratio of 29.22, a PEG ratio of 1.34 and a beta of 1.28. The stock’s fifty day moving average price is $674.56 and its 200-day moving average price is $705.81.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, October 29th. The social networking company reported $7.25 EPS for the quarter, topping the consensus estimate of $6.74 by $0.51. The company had revenue of $51.24 billion during the quarter, compared to the consensus estimate of $49.34 billion. Meta Platforms had a return on equity of 39.35% and a net margin of 30.89%.Meta Platforms’s revenue for the quarter was up 26.2% on a year-over-year basis. During the same period last year, the company earned $6.03 EPS. Sell-side analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current 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 dividend of $0.525 per share. The ex-dividend date is Monday, December 15th. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. Meta Platforms’s dividend 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.