MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Has $67.85 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 11.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 117,729 shares of the social networking company’s stock after acquiring an additional 12,520 shares during the period. Meta Platforms accounts for 2.0% of MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings, making the stock its 12th largest position. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Meta Platforms were worth $67,854,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $19,949,512,000. GAMMA Investing LLC raised its position in shares of Meta Platforms by 67,172.9% in the first quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company’s stock valued at $13,517,178,000 after buying an additional 23,417,803 shares in the last quarter. Proficio Capital Partners LLC raised its position in shares of Meta Platforms by 78,471.1% in the fourth quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company’s stock valued at $3,658,713,000 after buying an additional 6,240,810 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $2,243,603,000. Finally, Northern Trust Corp raised its position in shares of Meta Platforms by 13.5% in the fourth quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company’s stock valued at $13,727,613,000 after buying an additional 2,787,832 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

META has been the subject of several research analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $740.00 price objective on shares of Meta Platforms in a research report on Thursday, May 1st. Jefferies Financial Group lowered their price objective on shares of Meta Platforms from $725.00 to $600.00 and set a “buy” rating for the company in a research report on Monday, April 7th. Oppenheimer boosted their price objective on shares of Meta Platforms from $650.00 to $665.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. Stifel Nicolaus boosted their price objective on shares of Meta Platforms from $628.00 to $655.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Finally, Citigroup boosted their price objective on shares of Meta Platforms from $655.00 to $690.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus price target of $704.26.

Insider Activity

In other news, COO Javier Olivan sold 406 shares of the firm’s stock in a transaction on Monday, April 21st. The shares were sold at an average price of $491.69, for a total transaction of $199,626.14. Following the sale, the chief operating officer now owns 4,608 shares in the company, valued at approximately $2,265,707.52. This trade represents a 8.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Andrew Bosworth sold 22,449 shares of the firm’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the sale, the chief technology officer now owns 1,183 shares in the company, valued at approximately $753,393.55. This trade represents a 94.99% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 85,593 shares of company stock worth $56,008,477. 13.61% of the stock is currently owned by corporate insiders.

Meta Platforms Stock Down 1.5%

Shares of NASDAQ:META opened at $682.87 on Monday. The firm has a fifty day moving average price of $604.07 and a two-hundred day moving average price of $619.96. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91. The company has a market cap of $1.72 trillion, a price-to-earnings ratio of 28.55, a PEG ratio of 1.42 and a beta of 1.26.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating the consensus estimate of $5.33 by $1.10. The firm had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The business’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same period last year, the firm earned $4.71 EPS. Analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.31%. The ex-dividend date of this dividend is Monday, June 16th. Meta Platforms’s dividend payout ratio (DPR) is currently 8.19%.

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.