DekaBank Deutsche Girozentrale Boosts Stock Position in Meta Platforms, Inc. (NASDAQ:META)

DekaBank Deutsche Girozentrale grew its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 1.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,310,811 shares of the social networking company's stock after buying an additional 29,791 shares during the quarter. Meta Platforms makes up 2.5% of DekaBank Deutsche Girozentrale's portfolio, making the stock its 5th largest position. DekaBank Deutsche Girozentrale owned 0.09% of Meta Platforms worth $1,296,055,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in META. Norges Bank acquired a new stake in Meta Platforms in the fourth quarter worth about $19,949,512,000. GAMMA Investing LLC grew its position in shares of 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 buying an additional 23,417,803 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Meta Platforms during the 4th quarter worth about $2,243,603,000. Northern Trust Corp grew its position in shares of Meta Platforms by 13.5% during the 4th quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company's stock worth $13,727,613,000 after buying an additional 2,787,832 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in shares of Meta Platforms by 712.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,537,631 shares of the social networking company's stock worth $1,462,589,000 after buying an additional 2,225,186 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Meta Platforms

In related news, COO Javier Olivan sold 517 shares of the stock in a transaction on Monday, July 7th. The stock was sold at an average price of $717.51, for a total value of $370,952.67. Following the sale, the chief operating officer owned 7,336 shares in the company, valued at approximately $5,263,653.36. This represents a 6.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 519 shares of the stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $721.57, for a total value of $374,494.83. Following the completion of the sale, the insider owned 27,107 shares in the company, valued at approximately $19,559,597.99. This trade represents a 1.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 153,184 shares of company stock worth $105,128,004 in the last 90 days. Corporate insiders own 13.61% of the company's stock.

Meta Platforms Stock Up 0.8%

Shares of Meta Platforms stock traded up $5.40 on Monday, reaching $722.91. 2,483,714 shares of the company were exchanged, compared to its average volume of 14,413,113. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $747.90. The company has a market capitalization of $1.82 trillion, a price-to-earnings ratio of 28.21, a PEG ratio of 1.76 and a beta of 1.28. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average of $674.77 and a 200 day moving average of $634.57.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The company had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. During the same quarter in the prior year, the business posted $4.71 EPS. The business's revenue was up 16.1% compared to the same quarter last year. On average, equities research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date was Monday, June 16th. Meta Platforms's dividend payout ratio is currently 8.19%.

Analysts Set New Price Targets

META has been the subject of several analyst reports. KeyCorp boosted their target price on Meta Platforms from $645.00 to $655.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Rosenblatt Securities boosted 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. Jefferies Financial Group decreased their target price on Meta Platforms from $725.00 to $600.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Loop Capital boosted their target price on Meta Platforms from $695.00 to $888.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Finally, Monness Crespi & Hardt boosted their target price on Meta Platforms from $775.00 to $780.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Five research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $729.38.

Meta Platforms Company 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.