Skandinaviska Enskilda Banken AB publ Reduces Holdings in Meta Platforms, Inc. $META

by · The Markets Daily

Skandinaviska Enskilda Banken AB publ lessened its stake in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 11.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,047,775 shares of the social networking company’s stock after selling 135,800 shares during the period. Meta Platforms makes up about 3.4% of Skandinaviska Enskilda Banken AB publ’s investment portfolio, making the stock its 5th largest holding. Skandinaviska Enskilda Banken AB publ’s holdings in Meta Platforms were worth $773,596,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of META. Kingstone Capital Partners Texas LLC grew its position in Meta Platforms by 608,429.2% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 59,775,823 shares of the social networking company’s stock valued at $44,119,937,000 after purchasing an additional 59,766,000 shares during the last quarter. Norges Bank purchased a new position in Meta Platforms in the second quarter worth about $23,155,393,000. Laurel Wealth Advisors LLC lifted its stake in shares of Meta Platforms by 73,443.1% in the second quarter. Laurel Wealth Advisors LLC now owns 8,417,003 shares of the social networking company’s stock worth $6,212,506,000 after buying an additional 8,405,558 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Meta Platforms during the first quarter valued at approximately $2,990,544,000. Finally, Vanguard Group Inc. increased its position in shares of Meta Platforms by 0.8% during the second quarter. Vanguard Group Inc. now owns 192,591,101 shares of the social networking company’s stock valued at $142,149,566,000 after acquiring an additional 1,532,568 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

META has been the topic of several analyst reports. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Meta Platforms in a research report on Tuesday, October 14th. Canaccord Genuity Group restated a “buy” rating and issued a $900.00 price target on shares of Meta Platforms in a research note on Thursday, October 30th. Bank of America dropped their price objective on Meta Platforms from $900.00 to $810.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. Wall Street Zen downgraded Meta Platforms from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Finally, Erste Group Bank cut shares of Meta Platforms from a “buy” rating to a “hold” rating in a research note on Monday, November 10th. Four research analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $821.63.

Get Our Latest Report on Meta Platforms

Insider Activity

In related news, insider Jennifer Newstead sold 519 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $642.22, for a total value of $333,312.18. Following the transaction, the insider directly owned 30,734 shares of the company’s stock, valued at approximately $19,737,989.48. This trade represents a 1.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert M. Kimmitt sold 600 shares of Meta Platforms stock in a transaction on Monday, November 17th. The shares were sold at an average price of $609.35, for a total value of $365,610.00. Following the transaction, the director owned 7,347 shares in the company, valued at $4,476,894.45. This trade represents a 7.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 41,959 shares of company stock worth $26,671,107. Company insiders own 13.61% of the company’s stock.

Meta Platforms Trading Up 1.8%

Shares of NASDAQ:META opened at $673.42 on Friday. The stock’s 50-day simple moving average is $673.16 and its two-hundred day simple moving average is $706.52. The stock has a market capitalization of $1.70 trillion, a price-to-earnings ratio of 29.74, a PEG ratio of 1.41 and a beta of 1.28. Meta Platforms, Inc. has a 52-week low of $479.80 and a 52-week high of $796.25. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.98 and a current ratio of 1.98.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its quarterly earnings data on Wednesday, October 29th. The social networking company reported $7.25 earnings per share for the quarter, topping the consensus estimate of $6.74 by $0.51. The firm had revenue of $51.24 billion for the quarter, compared to analysts’ expectations of $49.34 billion. Meta Platforms had a net margin of 30.89% and a return on equity of 39.35%. The business’s quarterly revenue was up 26.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.03 EPS. Analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Monday, December 15th will be paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, December 15th. Meta Platforms’s dividend payout ratio (DPR) is currently 9.28%.

Meta Platforms Profile

(Free Report)

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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