AMF Tjanstepension AB Has $269.59 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

AMF Tjanstepension AB raised its stake in Meta Platforms, Inc. (NASDAQ:META) by 0.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 460,401 shares of the social networking company’s stock after buying an additional 3,309 shares during the period. Meta Platforms accounts for 1.9% of AMF Tjanstepension AB’s holdings, making the stock its 14th largest holding. AMF Tjanstepension AB’s holdings in Meta Platforms were worth $269,591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in META. Proficio Capital Partners LLC boosted its position in 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. Integrated Investment Consultants LLC raised its stake in shares of Meta Platforms by 61,769.3% during the third quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock valued at $2,365,820,000 after acquiring an additional 4,126,190 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Meta Platforms during the fourth quarter valued at $2,243,603,000. Strategic Financial Concepts LLC raised its stake in shares of Meta Platforms by 87,269.8% during the fourth quarter. Strategic Financial Concepts LLC now owns 1,067,659 shares of the social networking company’s stock valued at $625,125,000 after acquiring an additional 1,066,437 shares during the last quarter. Finally, World Investment Advisors LLC raised its stake in shares of Meta Platforms by 4,658.5% during the third quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock valued at $520,662,000 after acquiring an additional 890,434 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insiders Place Their Bets

In other Meta Platforms news, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $629.56, for a total value of $260,008.28. Following the sale, the chief operating officer now owns 18,340 shares of the company’s stock, valued at approximately $11,546,130.40. The trade was a 2.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $591.76, for a total transaction of $535,542.80. Following the completion of the sale, the insider now directly owns 32,915 shares in the company, valued at approximately $19,477,780.40. This represents a 2.68 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 725,689 shares of company stock valued at $473,072,897. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Up 2.3 %

Meta Platforms stock opened at $619.56 on Thursday. Meta Platforms, Inc. has a fifty-two week low of $414.50 and a fifty-two week high of $740.91. The stock has a market cap of $1.57 trillion, a PE ratio of 25.90, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23. The firm’s 50-day simple moving average is $658.13 and its 200 day simple moving average is $602.08. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, topping the consensus estimate of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same quarter in the previous year, the firm earned $5.33 EPS. Research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be given a $0.525 dividend. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.10 annualized dividend and a yield of 0.34%. Meta Platforms’s payout ratio is currently 8.78%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group raised their price target on shares of Meta Platforms from $688.00 to $765.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Mizuho raised their price target on shares of Meta Platforms from $675.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Scotiabank lifted their target price on shares of Meta Platforms from $583.00 to $627.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 30th. Arete Research raised shares of Meta Platforms to a “hold” rating in a research note on Friday, January 24th. Finally, Cantor Fitzgerald lifted their target price on shares of Meta Platforms from $720.00 to $790.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $719.26.

Meta Platforms Profile

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.