Munich Reinsurance Co Stock Corp in Munich Buys 6,134 Shares of Meta Platforms, Inc. $META

Munich Reinsurance Co Stock Corp in Munich lifted its position in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 7.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,247 shares of the social networking company’s stock after buying an additional 6,134 shares during the quarter. Munich Reinsurance Co Stock Corp in Munich’s holdings in Meta Platforms were worth $48,200,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Keybank National Association OH raised its holdings in Meta Platforms by 15.7% in the fourth quarter. Keybank National Association OH now owns 133,798 shares of the social networking company’s stock worth $88,319,000 after purchasing an additional 18,169 shares in the last quarter. WMS Group LLC purchased a new position in Meta Platforms during the fourth quarter valued at $876,000. Diversified Trust Co. boosted its holdings in shares of Meta Platforms by 4.1% during the 4th quarter. Diversified Trust Co. now owns 84,059 shares of the social networking company’s stock valued at $55,487,000 after buying an additional 3,336 shares in the last quarter. Consolidated Investment Group LLC boosted its holdings in shares of Meta Platforms by 61.2% during the 4th quarter. Consolidated Investment Group LLC now owns 7,900 shares of the social networking company’s stock valued at $5,215,000 after buying an additional 3,000 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Meta Platforms by 3.8% in the 4th quarter. Vanguard Group Inc. now owns 199,995,630 shares of the social networking company’s stock worth $132,015,115,000 after buying an additional 7,269,279 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Meta Platforms news, COO Javier Olivan sold 3,348 shares of Meta Platforms stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $600.97, for a total value of $2,012,047.56. Following the completion of the sale, the chief operating officer owned 9,498 shares of the company’s stock, valued at approximately $5,708,013.06. The trade was a 26.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert M. Kimmitt sold 500 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $607.75, for a total transaction of $303,875.00. Following the sale, the director owned 3,443 shares of the company’s stock, valued at approximately $2,092,483.25. This represents a 12.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 39,503 shares of company stock worth $24,241,859. 13.53% of the stock is owned by insiders.

Trending Headlines about Meta Platforms

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Meta Platforms Stock Performance

Shares of META stock opened at $661.04 on Wednesday. The company has a market capitalization of $1.67 trillion, a price-to-earnings ratio of 24.03, a price-to-earnings-growth ratio of 1.16 and a beta of 1.25. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.35 and a current ratio of 2.35. Meta Platforms, Inc. has a one year low of $520.26 and a one year high of $796.25. The company’s 50-day moving average is $600.12 and its 200 day moving average is $626.76.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The social networking company reported $10.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.67 by $3.77. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. The firm had revenue of $56.31 billion for the quarter, compared to the consensus estimate of $55.56 billion. During the same quarter last year, the firm posted $6.43 EPS. The business’s quarterly revenue was up 33.1% compared to the same quarter last year. Sell-side analysts expect that Meta Platforms, Inc. will post 29.46 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Monday, June 15th were issued a $0.525 dividend. The ex-dividend date was Monday, June 15th. This represents a $2.10 annualized dividend and a yield of 0.3%. Meta Platforms’s dividend payout ratio (DPR) is currently 7.63%.

Analysts Set New Price Targets

Several research analysts recently issued reports on META shares. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $725.00 price target (down from $825.00) on shares of Meta Platforms in a research note on Thursday, April 30th. Rosenblatt Securities restated a “buy” rating and issued a $1,015.00 price objective on shares of Meta Platforms in a report on Thursday, May 28th. Arete Research set a $735.00 target price on shares of Meta Platforms and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Wolfe Research lowered their target price on shares of Meta Platforms from $850.00 to $800.00 and set an “outperform” rating for the company in a report on Friday, April 10th. Finally, Truist Financial dropped their price target on Meta Platforms from $900.00 to $840.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $835.90.

Read Our Latest Stock Report on Meta Platforms

Meta Platforms Profile

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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