Sun Sep 15 13:33:03 UTC 2024: ## Forsta AP Fonden Sells Meta Platforms Shares, Other Institutional Investors Adjust Holdings
**New York, NY** – Forsta AP Fonden, a prominent institutional investor, reduced its stake in Meta Platforms Inc. (META) by 8.9% during the second quarter, according to a recent filing with the Securities and Exchange Commission. The fund now holds 537,200 shares of the social media giant, valued at $270,867,000, making META its fifth largest holding.
This move comes amidst a flurry of activity by other institutional investors in the company. Baird Financial Group Inc. increased its stake by 24.2% in the fourth quarter, while California State Teachers Retirement System and Voyager Global Management LP also boosted their holdings. Meanwhile, Gradient Investments LLC and Baillie Gifford & Co. saw their shares in META rise during the second and first quarters respectively.
The overall ownership of META by institutional investors stands at 79.91%.
In other news, COO Javier Olivan sold 412 shares of META stock on June 20th, while insider Jennifer Newstead sold 905 shares on September 10th.
META’s stock opened at $524.62 on Friday, with a market capitalization of $1.33 trillion. The company recently reported strong earnings results for the second quarter, exceeding analysts’ expectations.
Analysts predict that Meta Platforms will post 21.36 earnings per share for the current fiscal year. The company also declared a quarterly dividend of $0.50, payable on September 26th.
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