Tokio Marine Asset Management Co. Ltd. Purchases 3,264 Shares of Meta Platforms, Inc. (NASDAQ:META)

Tokio Marine Asset Management Co. Ltd. increased its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 3.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 89,023 shares of the social networking company's stock after buying an additional 3,264 shares during the quarter. Meta Platforms comprises about 1.9% of Tokio Marine Asset Management Co. Ltd.'s portfolio, making the stock its 9th biggest position. Tokio Marine Asset Management Co. Ltd.'s holdings in Meta Platforms were worth $51,309,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. NFP Retirement Inc. raised its stake in shares of Meta Platforms by 1.9% in the first quarter. NFP Retirement Inc. now owns 1,265 shares of the social networking company's stock worth $729,000 after purchasing an additional 23 shares during the last quarter. Triglav Skladi D.O.O. raised its stake in shares of Meta Platforms by 9.0% in the first quarter. Triglav Skladi D.O.O. now owns 115,140 shares of the social networking company's stock worth $66,361,000 after purchasing an additional 9,524 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Meta Platforms in the first quarter worth approximately $4,794,000. S Bank Fund Management Ltd purchased a new stake in shares of Meta Platforms in the first quarter worth approximately $2,699,000. Finally, National Pension Service raised its stake in shares of Meta Platforms by 4.2% in the first quarter. National Pension Service now owns 4,406,766 shares of the social networking company's stock worth $2,539,884,000 after purchasing an additional 176,627 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Trading Up 0.4%

NASDAQ META opened at $785.23 on Friday. The stock's 50-day simple moving average is $724.43 and its two-hundred day simple moving average is $655.43. Meta Platforms, Inc. has a twelve month low of $479.80 and a twelve month high of $796.25. 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 company has a market capitalization of $1.97 trillion, a price-to-earnings ratio of 28.43, a PEG ratio of 1.63 and a beta of 1.27.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The social networking company reported $7.14 earnings per share for the quarter, beating analysts' consensus estimates of $5.75 by $1.39. The business had revenue of $47.52 billion for the quarter, compared to the consensus estimate of $44.55 billion. Meta Platforms had a return on equity of 39.33% and a net margin of 39.99%. The company's revenue for the quarter was up 21.6% on a year-over-year basis. During the same quarter last year, the business posted $5.16 earnings per share. Research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal 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 issued a $0.525 dividend. 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 payout ratio is currently 7.60%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Rosenblatt Securities increased their price objective on Meta Platforms from $846.00 to $918.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Moffett Nathanson increased their price objective on Meta Platforms from $525.00 to $605.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Bank of America increased their price objective on Meta Platforms from $775.00 to $900.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. JPMorgan Chase & Co. increased their price objective on Meta Platforms from $795.00 to $875.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Finally, Truist Financial increased their price target on Meta Platforms from $700.00 to $720.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Four analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $822.41.

Insider Activity

In other news, CEO Mark Zuckerberg sold 15,847 shares of Meta Platforms stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $753.43, for a total value of $11,939,605.21. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Christopher K. Cox sold 60,000 shares of Meta Platforms stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $775.95, for a total value of $46,557,000.00. Following the completion of the transaction, the insider owned 237,205 shares in the company, valued at approximately $184,059,219.75. This represents a 20.19% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 269,243 shares of company stock worth $200,605,051. Company insiders own 13.61% of the company's stock.

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.

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