E. Ohman J or Asset Management AB Sells 4,119 Shares of Meta Platforms, Inc. (NASDAQ:META)

E. Ohman J or Asset Management AB reduced its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 4.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 99,835 shares of the social networking company's stock after selling 4,119 shares during the quarter. Meta Platforms makes up 1.5% of E. Ohman J or Asset Management AB's portfolio, making the stock its 14th biggest holding. E. Ohman J or Asset Management AB's holdings in Meta Platforms were worth $57,541,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Millstone Evans Group LLC acquired a new stake in Meta Platforms during the fourth quarter worth about $40,000. WealthTrak Capital Management LLC acquired a new stake in Meta Platforms during the fourth quarter worth about $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Meta Platforms during the fourth quarter worth about $45,000. Stuart Chaussee & Associates Inc. acquired a new stake in Meta Platforms during the fourth quarter worth about $47,000. Finally, Conquis Financial LLC acquired a new stake in Meta Platforms during the fourth quarter worth about $59,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

META has been the subject of several research analyst reports. The Goldman Sachs Group upped their price target on Meta Platforms from $685.00 to $690.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Moffett Nathanson raised their target price on Meta Platforms from $525.00 to $605.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Evercore ISI raised their target price on Meta Platforms from $725.00 to $750.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Scotiabank dropped their target price on Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating on the stock in a report on Monday, April 21st. Finally, Loop Capital raised their target price on Meta Platforms from $695.00 to $888.00 and gave the company a "buy" rating in a report on Friday, May 16th. 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 issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $702.48.

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 519 shares of the business's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $671.00, for a total value of $348,249.00. Following the sale, the insider now owns 29,702 shares of the company's stock, valued at approximately $19,930,042. The trade was a 1.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Javier Olivan sold 608 shares of the business's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $609.00, for a total value of $370,272.00. Following the completion of the sale, the chief operating officer now directly owns 8,054 shares in the company, valued at $4,904,886. This represents a 7.02% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,171 shares of company stock worth $35,163,457. 13.61% of the stock is owned by company insiders.

Meta Platforms Stock Performance

NASDAQ:META traded up $13.09 during midday trading on Friday, reaching $697.71. 11,707,462 shares of the company traded hands, compared to its average volume of 14,510,579. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91. The firm has a market capitalization of $1.75 trillion, a price-to-earnings ratio of 29.17, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The company has a fifty day moving average price of $585.44 and a 200 day moving average price of $613.90.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating the consensus estimate of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The firm had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter in the previous year, the business earned $4.71 EPS. The firm's revenue for the quarter was up 16.1% on a year-over-year basis. On average, analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be given a dividend of $0.525 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.30%. Meta Platforms's dividend payout ratio (DPR) is presently 8.19%.

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.