Norinchukin Bank The Trims Stake in Meta Platforms, Inc. (NASDAQ:FB)

Norinchukin Bank The lessened its holdings in Meta Platforms, Inc. (NASDAQ:FBGet Rating) by 2.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 220,149 shares of the social networking company’s stock after selling 6,141 shares during the period. Meta Platforms comprises about 0.9% of Norinchukin Bank The’s portfolio, making the stock its 18th largest holding. Norinchukin Bank The’s holdings in Meta Platforms were worth $74,047,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Barr E S & Co. increased its position in shares of Meta Platforms by 1.2% during the 3rd quarter. Barr E S & Co. now owns 2,777 shares of the social networking company’s stock valued at $942,000 after purchasing an additional 33 shares during the last quarter. Autus Asset Management LLC grew its holdings in shares of Meta Platforms by 5.4% in the 4th quarter. Autus Asset Management LLC now owns 643 shares of the social networking company’s stock worth $217,000 after acquiring an additional 33 shares during the period. Well Done LLC increased its holdings in shares of Meta Platforms by 1.9% during the 4th quarter. Well Done LLC now owns 1,829 shares of the social networking company’s stock worth $615,000 after buying an additional 34 shares during the last quarter. Summit Wealth Group LLC lifted its position in shares of Meta Platforms by 4.2% during the third quarter. Summit Wealth Group LLC now owns 894 shares of the social networking company’s stock worth $303,000 after purchasing an additional 36 shares during the last quarter. Finally, JGP Wealth Management LLC boosted its holdings in Meta Platforms by 1.9% during the fourth quarter. JGP Wealth Management LLC now owns 1,903 shares of the social networking company’s stock worth $617,000 after buying an additional 36 shares in the last quarter. Hedge funds and other institutional investors own 65.49% of the company’s stock.

FB stock traded up $2.50 during trading on Thursday, hitting $191.24. The stock had a trading volume of 38,228,987 shares, compared to its average volume of 36,371,727. Meta Platforms, Inc. has a twelve month low of $169.00 and a twelve month high of $384.33. The stock has a market capitalization of $517.56 billion, a P/E ratio of 14.53, a PEG ratio of 1.29 and a beta of 1.37. The company’s 50-day moving average price is $207.70 and its two-hundred day moving average price is $270.04.

Meta Platforms (NASDAQ:FBGet Rating) last issued its quarterly earnings results on Wednesday, April 27th. The social networking company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.66 by $0.06. Meta Platforms had a return on equity of 28.74% and a net margin of 31.20%. During the same period in the prior year, the firm posted $3.30 earnings per share. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 11.63 earnings per share for the current fiscal year.

A number of equities research analysts have weighed in on the stock. Jefferies Financial Group decreased their target price on shares of Meta Platforms from $420.00 to $350.00 and set a “buy” rating for the company in a research note on Thursday, February 3rd. Bank of America lowered their price objective on shares of Meta Platforms from $410.00 to $333.00 and set a “buy” rating for the company in a research report on Thursday, February 3rd. BMO Capital Markets cut their price objective on Meta Platforms from $290.00 to $225.00 in a research note on Friday, April 22nd. Sanford C. Bernstein lowered their price target on Meta Platforms from $400.00 to $350.00 and set an “outperform” rating for the company in a report on Thursday, February 3rd. Finally, JPMorgan Chase & Co. lowered Meta Platforms from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $385.00 to $284.00 in a research report on Thursday, February 3rd. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, thirty-three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $316.80.

In related news, CAO Susan J.S. Taylor sold 2,272 shares of Meta Platforms stock in a transaction dated Thursday, February 17th. The shares were sold at an average price of $214.00, for a total transaction of $486,208.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 476 shares of Meta Platforms stock in a transaction that occurred on Wednesday, February 16th. The shares were sold at an average price of $212.44, for a total value of $101,121.44. The disclosure for this sale can be found here. Insiders sold a total of 8,768 shares of company stock valued at $1,858,518 in the last 90 days. 13.59% of the stock is currently owned by corporate insiders.

Meta Platforms Company Profile (Get Rating)

Meta Platforms, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, wearables, and in-home devices worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment's products include Facebook, which enables people to share, 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, groups, and businesses across platforms and devices through chat, audio and video calls, and rooms; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.

Further Reading

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

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