AIA Group Ltd Has $14.42 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

AIA Group Ltd lifted its position in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 44.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,032 shares of the social networking company’s stock after purchasing an additional 14,718 shares during the quarter. Meta Platforms makes up about 0.7% of AIA Group Ltd’s investment portfolio, making the stock its 28th largest position. AIA Group Ltd’s holdings in Meta Platforms were worth $14,420,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Fairfield Bush & CO. bought a new position in shares of Meta Platforms during the 1st quarter worth approximately $66,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Meta Platforms by 12.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,244,201 shares of the social networking company’s stock worth $499,020,000 after buying an additional 249,926 shares during the period. Ergoteles LLC lifted its position in shares of Meta Platforms by 284.0% during the 1st quarter. Ergoteles LLC now owns 3,356 shares of the social networking company’s stock worth $746,000 after buying an additional 2,482 shares during the period. First Western Trust Bank bought a new position in shares of Meta Platforms during the 1st quarter worth approximately $813,000. Finally, Oxford Financial Group Ltd. lifted its position in shares of Meta Platforms by 26.9% during the 1st quarter. Oxford Financial Group Ltd. now owns 1,888 shares of the social networking company’s stock worth $420,000 after buying an additional 400 shares during the period. Institutional investors and hedge funds own 62.87% of the company’s stock.

Meta Platforms Price Performance

Meta Platforms stock opened at $368.37 on Thursday. Meta Platforms, Inc. has a 12 month low of $132.14 and a 12 month high of $377.06. The stock’s 50 day moving average is $343.30 and its 200-day moving average is $317.90. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $946.66 billion, a price-to-earnings ratio of 32.51, a PEG ratio of 0.98 and a beta of 1.22.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its earnings results on Wednesday, October 25th. The social networking company reported $4.39 EPS for the quarter, beating the consensus estimate of $3.62 by $0.77. Meta Platforms had a return on equity of 26.40% and a net margin of 23.42%. The company had revenue of $34.15 billion for the quarter, compared to the consensus estimate of $33.58 billion. During the same quarter in the prior year, the business earned $1.64 earnings per share. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. Equities research analysts expect that Meta Platforms, Inc. will post 14.34 EPS for the current year.

Insider Buying and Selling

In related news, CTO Andrew Bosworth sold 8,031 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $336.31, for a total transaction of $2,700,905.61. Following the sale, the chief technology officer now owns 15,013 shares of the company’s stock, valued at $5,049,022.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CTO Andrew Bosworth sold 8,031 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $336.31, for a total transaction of $2,700,905.61. Following the sale, the chief technology officer now owns 15,013 shares of the company’s stock, valued at $5,049,022.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark Zuckerberg sold 19,681 shares of the stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $364.99, for a total value of $7,183,368.19. The disclosure for this sale can be found here. Insiders have sold 783,670 shares of company stock valued at $264,994,944 over the last 90 days. 13.75% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on META shares. Morgan Stanley reiterated an “overweight” rating and issued a $375.00 price objective on shares of Meta Platforms in a research report on Thursday, September 28th. BMO Capital Markets started coverage on Meta Platforms in a research report on Tuesday, January 9th. They issued a “market perform” rating and a $397.00 price objective for the company. Truist Financial lifted their price objective on Meta Platforms from $390.00 to $405.00 and gave the company a “buy” rating in a research report on Thursday, October 26th. Tigress Financial lifted their price objective on Meta Platforms from $380.00 to $435.00 and gave the company a “strong-buy” rating in a research report on Wednesday, November 22nd. Finally, Piper Sandler lifted their price objective on Meta Platforms from $355.00 to $415.00 and gave the company an “overweight” rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, forty-two have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $360.75.

Check Out Our Latest Report on META

Meta Platforms Company 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.

See Also

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

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