Elo Mutual Pension Insurance Co Has $117.97 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Elo Mutual Pension Insurance Co cut its holdings in Meta Platforms, Inc. (NASDAQ:META) by 3.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 201,478 shares of the social networking company’s stock after selling 6,795 shares during the quarter. Meta Platforms makes up about 2.5% of Elo Mutual Pension Insurance Co’s holdings, making the stock its 5th largest holding. Elo Mutual Pension Insurance Co’s holdings in Meta Platforms were worth $117,967,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of META. Seelaus Asset Management LLC grew its holdings in Meta Platforms by 0.9% during the 4th quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company’s stock valued at $960,000 after buying an additional 15 shares during the last quarter. Meredith Wealth Planning increased its stake in shares of Meta Platforms by 0.8% during the 4th quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company’s stock valued at $1,097,000 after acquiring an additional 15 shares during the last quarter. Maiden Cove Capital LLC raised its stake in Meta Platforms by 3.2% during the fourth quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company’s stock worth $282,000 after purchasing an additional 15 shares during the period. Stephens Consulting LLC boosted its holdings in Meta Platforms by 5.3% in the fourth quarter. Stephens Consulting LLC now owns 317 shares of the social networking company’s stock valued at $186,000 after acquiring an additional 16 shares during the last quarter. Finally, VeraBank N.A. lifted its stake in shares of Meta Platforms by 0.8% in the 4th quarter. VeraBank N.A. now owns 1,954 shares of the social networking company’s stock valued at $1,144,000 after purchasing an additional 16 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Meta Platforms news, insider Christopher K. Cox sold 20,000 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $677.71, for a total transaction of $13,554,200.00. Following the transaction, the insider now directly owns 308,686 shares in the company, valued at $209,199,589.06. This trade represents a 6.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Andrew Bosworth sold 5,060 shares of the business’s stock in a transaction dated Saturday, February 15th. The stock was sold at an average price of $736.67, for a total value of $3,727,550.20. Following the completion of the sale, the chief technology officer now directly owns 5,139 shares of the company’s stock, valued at $3,785,747.13. This represents a 49.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 584,823 shares of company stock worth $386,274,777 in the last three months. 13.71% of the stock is owned by insiders.

Meta Platforms Price Performance

Shares of META opened at $602.58 on Friday. The company has a market capitalization of $1.53 trillion, a price-to-earnings ratio of 25.19, a P/E/G ratio of 1.42 and a beta of 1.23. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The business’s 50-day moving average is $655.95 and its 200-day moving average is $607.98. Meta Platforms, Inc. has a fifty-two week low of $414.50 and a fifty-two week high of $740.91.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating the consensus estimate of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same quarter in the previous year, the company posted $5.33 EPS. Equities research analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were given a $0.525 dividend. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend was Friday, March 14th. Meta Platforms’s dividend payout ratio is presently 8.78%.

Analyst Upgrades and Downgrades

META has been the subject of a number of research reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $811.00 price target on shares of Meta Platforms in a research report on Monday, January 27th. Wolfe Research lifted their price target on shares of Meta Platforms from $670.00 to $730.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a research note on Monday, January 27th. Barclays raised their price target on shares of Meta Platforms from $630.00 to $705.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Finally, BMO Capital Markets boosted their price objective on Meta Platforms from $530.00 to $610.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $718.31.

About Meta Platforms

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.