Meta Platforms, Inc. (NASDAQ:META) is Commerzbank Aktiengesellschaft FI’s 5th Largest Position

Commerzbank Aktiengesellschaft FI boosted its stake in Meta Platforms, Inc. (NASDAQ:META) by 3,138.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 267,041 shares of the social networking company’s stock after acquiring an additional 258,796 shares during the quarter. Meta Platforms comprises about 4.4% of Commerzbank Aktiengesellschaft FI’s holdings, making the stock its 5th largest holding. Commerzbank Aktiengesellschaft FI’s holdings in Meta Platforms were worth $134,647,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. S.A. Mason LLC increased its position in shares of Meta Platforms by 1.5% during the first quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock valued at $645,000 after purchasing an additional 20 shares during the period. Horizon Bancorp Inc. IN lifted its holdings in shares of Meta Platforms by 2.0% during the 1st quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock worth $513,000 after acquiring an additional 21 shares during the period. Northern Capital Management Inc. boosted its position in shares of Meta Platforms by 3.4% during the 1st quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company’s stock valued at $314,000 after acquiring an additional 21 shares in the last quarter. Buckingham Capital Management Inc. increased its stake in Meta Platforms by 5.1% in the second quarter. Buckingham Capital Management Inc. now owns 433 shares of the social networking company’s stock valued at $218,000 after acquiring an additional 21 shares during the period. Finally, LongView Wealth Management raised its position in Meta Platforms by 1.3% in the first quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock worth $856,000 after purchasing an additional 22 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Bank of America lifted their price objective on Meta Platforms from $550.00 to $563.00 and gave the company a “buy” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. upped their price target on Meta Platforms from $480.00 to $610.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft lifted their price objective on Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Tigress Financial upped their target price on shares of Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a report on Friday. Finally, Wedbush reissued an “outperform” rating and set a $570.00 price target on shares of Meta Platforms in a report on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-three have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus target price of $574.41.

Insider Activity

In related news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $532.21, for a total value of $481,650.05. Following the transaction, the insider now directly owns 41,437 shares of the company’s stock, valued at $22,053,185.77. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $532.21, for a total transaction of $481,650.05. Following the completion of the sale, the insider now owns 41,437 shares of the company’s stock, valued at $22,053,185.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the transaction, the chief technology officer now directly owns 11,990 shares in the company, valued at $6,315,852.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 384,783 shares of company stock valued at $194,001,589. Insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Shares of NASDAQ:META traded down $2.55 during midday trading on Tuesday, hitting $526.73. The stock had a trading volume of 7,928,837 shares, compared to its average volume of 16,272,739. The company’s 50-day moving average price is $501.40 and its 200-day moving average price is $489.81. The company has a quick ratio of 2.68, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a fifty-two week low of $276.03 and a fifty-two week high of $542.81. The company has a market capitalization of $1.34 trillion, a P/E ratio of 30.25, a price-to-earnings-growth ratio of 1.27 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The firm had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.23 earnings per share. As a group, equities research analysts predict that Meta Platforms, Inc. will post 20.5 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.38%. The ex-dividend date was Friday, June 14th. Meta Platforms’s payout ratio is currently 11.49%.

Meta Platforms 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.