American International Group Inc. Boosts Holdings in Meta Platforms, Inc. (NASDAQ:META)

American International Group Inc. raised its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 685,333 shares of the social networking company’s stock after purchasing an additional 17,002 shares during the quarter. Meta Platforms accounts for about 1.0% of American International Group Inc.’s investment portfolio, making the stock its 8th biggest position. American International Group Inc.’s holdings in Meta Platforms were worth $242,580,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Stone House Investment Management LLC boosted its position in shares of Meta Platforms by 625.0% during the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after acquiring an additional 75 shares in the last quarter. Beaird Harris Wealth Management LLC boosted its position in shares of Meta Platforms by 68.9% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after acquiring an additional 42 shares in the last quarter. Quest Partners LLC acquired a new position in Meta Platforms in the fourth quarter valued at about $32,000. Clear Investment Research LLC boosted its position in Meta Platforms by 411.1% in the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after buying an additional 74 shares in the last quarter. Finally, Cranbrook Wealth Management LLC boosted its position in Meta Platforms by 80.4% in the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after buying an additional 45 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on META shares. Stifel Nicolaus boosted their price target on shares of Meta Platforms from $527.00 to $588.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Jefferies Financial Group reduced their price target on shares of Meta Platforms from $585.00 to $540.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Benchmark restated a “hold” rating on shares of Meta Platforms in a research report on Monday, April 22nd. Truist Financial reduced their price target on shares of Meta Platforms from $550.00 to $535.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Finally, Citigroup dropped their target price on shares of Meta Platforms from $590.00 to $550.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $510.41.

Meta Platforms Stock Up 0.1 %

Shares of Meta Platforms stock traded up $0.56 on Friday, hitting $504.16. The company had a trading volume of 10,243,347 shares, compared to its average volume of 10,607,878. The firm has a market capitalization of $1.28 trillion, a P/E ratio of 28.96, a P/E/G ratio of 1.31 and a beta of 1.21. Meta Platforms, Inc. has a twelve month low of $271.42 and a twelve month high of $531.49. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. The stock has a 50-day moving average of $480.39 and a 200-day moving average of $441.54.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The business had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. Research analysts predict that Meta Platforms, Inc. will post 20.16 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Friday, June 14th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Friday, June 14th. Meta Platforms’s payout ratio is 11.49%.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 585 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total transaction of $252,164.25. Following the completion of the transaction, the insider now owns 36,643 shares in the company, valued at $15,794,965.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total value of $252,164.25. Following the completion of the sale, the insider now owns 36,643 shares in the company, valued at $15,794,965.15. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Javier Olivan sold 490 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $441.54, for a total transaction of $216,354.60. Following the completion of the sale, the chief operating officer now owns 6,599 shares of the company’s stock, valued at approximately $2,913,722.46. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 437,528 shares of company stock worth $215,768,262. 13.71% of the stock is owned by insiders.

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.