Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Allianz SE

Key Points

• Allianz SE has reduced its stake in Meta Platforms by 19.9%, selling nearly 20,000 shares, now holding approximately 80,272 shares valued at $46.27 million.
• Several other institutional investors, including Price T Rowe Associates and GAMMA Investing, increased their positions in Meta, reflecting strong interest from market participants.
• Despite a decrease in price targets from some analysts, Meta's stock has a consensus rating of "Moderate Buy" with an average target price of $822.41, following its strong earnings report of $7.14 per share.

Allianz SE trimmed its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 19.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 80,272 shares of the social networking company's stock after selling 19,960 shares during the period. Meta Platforms accounts for approximately 1.2% of Allianz SE's holdings, making the stock its 15th largest holding. Allianz SE's holdings in Meta Platforms were worth $46,266,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in META. Price T Rowe Associates Inc. MD increased its stake in Meta Platforms by 2.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company's stock worth $24,777,282,000 after acquiring an additional 1,049,121 shares during the last quarter. Capital World Investors grew its holdings in shares of Meta Platforms by 2.9% during the 4th quarter. Capital World Investors now owns 40,317,105 shares of the social networking company's stock worth $23,606,338,000 after purchasing an additional 1,141,355 shares during the period. GAMMA Investing LLC increased its position in Meta Platforms by 67,172.9% during the 1st quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company's stock worth $13,517,178,000 after purchasing an additional 23,417,803 shares in the last quarter. Northern Trust Corp raised its holdings in 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 during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Meta Platforms by 2.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,007,308 shares of the social networking company's stock valued at $7,030,399,000 after buying an additional 280,357 shares during the period. Hedge funds and other institutional investors own 79.91% of the company's stock.

Analysts Set New Price Targets

META has been the subject of several research reports. Hsbc Global Res upgraded shares of Meta Platforms from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 31st. Evercore ISI lifted their target price on shares of Meta Platforms from $725.00 to $750.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. DA Davidson increased their price target on Meta Platforms from $650.00 to $825.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Susquehanna cut their price objective on Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock in a research report on Thursday, May 1st. Finally, Rosenblatt Securities upped their target price on Meta Platforms from $846.00 to $918.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Four investment 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. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $822.41.

Insider Activity

In other Meta Platforms news, CEO Mark Zuckerberg sold 15,847 shares of the business's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $753.43, for a total value of $11,939,605.21. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Christopher K. Cox sold 60,000 shares of the firm's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $775.95, for a total transaction of $46,557,000.00. Following the transaction, the insider owned 237,205 shares of the company's stock, valued at approximately $184,059,219.75. This trade represents a 20.19% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 260,024 shares of company stock worth $188,466,159. 13.61% of the stock is owned by company insiders.

Meta Platforms Stock Performance

Shares of META opened at $761.83 on Friday. The firm has a market capitalization of $1.92 trillion, a PE ratio of 27.58, a P/E/G ratio of 1.60 and a beta of 1.27. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average price of $711.99 and a 200 day moving average price of $649.96. Meta Platforms, Inc. has a 52-week low of $479.80 and a 52-week high of $784.75.

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

Meta Platforms Announces Dividend

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

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.

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