30,000 Shares in Meta Platforms, Inc. (NASDAQ:META) Acquired by Generali Powszechne Towarzystwo Emerytalne

Generali Powszechne Towarzystwo Emerytalne purchased a new position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 30,000 shares of the social networking company's stock, valued at approximately $17,291,000. Meta Platforms accounts for approximately 5.5% of Generali Powszechne Towarzystwo Emerytalne's investment portfolio, making the stock its 7th largest holding.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC lifted its position in shares of Meta Platforms by 1.7% in the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock worth $20,230,000 after purchasing an additional 570 shares during the period. Revolve Wealth Partners LLC lifted its position in shares of Meta Platforms by 10.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company's stock worth $5,537,000 after purchasing an additional 875 shares during the period. Bank Pictet & Cie Europe AG lifted its position in shares of Meta Platforms by 3.5% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 221,459 shares of the social networking company's stock worth $129,666,000 after purchasing an additional 7,587 shares during the period. Highview Capital Management LLC DE lifted its position in shares of Meta Platforms by 3.7% in the 4th quarter. Highview Capital Management LLC DE now owns 6,189 shares of the social networking company's stock worth $3,624,000 after purchasing an additional 218 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Meta Platforms in the 4th quarter worth approximately $2,243,603,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Price Performance

Shares of NASDAQ META traded up $7.47 during mid-day trading on Friday, reaching $769.30. The company's stock had a trading volume of 7,308,601 shares, compared to its average volume of 13,419,927. The stock has a 50-day moving average of $714.53 and a two-hundred day moving average of $651.01. The stock has a market capitalization of $1.93 trillion, a P/E ratio of 27.85, a P/E/G ratio of 1.58 and a beta of 1.27. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.97 and a current ratio of 1.97. Meta Platforms, Inc. has a 1-year low of $479.80 and a 1-year high of $784.75.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its earnings results on Wednesday, July 30th. The social networking company reported $7.14 EPS for the quarter, beating analysts' consensus estimates of $5.75 by $1.39. The business had revenue of $47.52 billion during the quarter, compared to analysts' expectations of $44.55 billion. Meta Platforms had a net margin of 39.99% and a return on equity of 39.33%. The company's quarterly revenue was up 21.6% compared to the same quarter last year. During the same period in the prior year, the business earned $5.16 earnings per share. On average, equities research analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, June 16th. Meta Platforms's dividend payout ratio (DPR) is presently 7.60%.

Insider Activity

In related news, insider Jennifer Newstead sold 515 shares of the firm's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $776.38, for a total transaction of $399,835.70. Following the completion of the sale, the insider directly owned 25,035 shares in the company, valued at approximately $19,436,673.30. This trade represents a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark Zuckerberg sold 15,847 shares of Meta Platforms stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $768.67, for a total transaction of $12,181,113.49. The disclosure for this sale can be found here. Insiders have sold a total of 275,024 shares of company stock valued at $199,983,159 in the last ninety days. 13.61% of the stock is currently owned by company insiders.

Analyst Ratings Changes

META has been the subject of several research reports. Bank of America upped their price target on shares of Meta Platforms from $775.00 to $900.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Robert W. Baird upped their price target on shares of Meta Platforms from $635.00 to $740.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Cantor Fitzgerald boosted their price objective on shares of Meta Platforms from $828.00 to $920.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. DA Davidson boosted their price objective on shares of Meta Platforms from $650.00 to $825.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Finally, Needham & Company LLC upgraded shares of Meta Platforms from an "underperform" rating to a "hold" rating in a research note on Thursday, July 3rd. Four research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, Meta Platforms currently has a consensus rating of "Moderate Buy" and an average price target of $822.41.

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.