Mitsubishi UFJ Trust & Banking Corp Has $847.11 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Mitsubishi UFJ Trust & Banking Corp lowered its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 3.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,469,761 shares of the social networking company's stock after selling 47,960 shares during the quarter. Meta Platforms makes up about 2.2% of Mitsubishi UFJ Trust & Banking Corp's holdings, making the stock its 5th biggest position. Mitsubishi UFJ Trust & Banking Corp owned 0.06% of Meta Platforms worth $847,111,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Endeavor Private Wealth Inc. raised its holdings in Meta Platforms by 330.8% during the first quarter. Endeavor Private Wealth Inc. now owns 2,154 shares of the social networking company's stock worth $1,242,000 after purchasing an additional 1,654 shares in the last quarter. Fiduciary Wealth Partners LLC acquired a new position in shares of Meta Platforms in the 1st quarter valued at $300,000. Strategic Family Wealth Counselors L.L.C. increased its holdings in shares of Meta Platforms by 3.3% in the 1st quarter. Strategic Family Wealth Counselors L.L.C. now owns 1,876 shares of the social networking company's stock valued at $1,081,000 after acquiring an additional 60 shares during the period. Signature Wealth Management Partners LLC increased its holdings in shares of Meta Platforms by 6.5% in the 1st quarter. Signature Wealth Management Partners LLC now owns 4,522 shares of the social networking company's stock valued at $2,607,000 after acquiring an additional 277 shares during the period. Finally, Baker Avenue Asset Management LP increased its holdings in shares of Meta Platforms by 3.4% in the 1st quarter. Baker Avenue Asset Management LP now owns 33,728 shares of the social networking company's stock valued at $19,440,000 after acquiring an additional 1,102 shares during the period. Institutional investors and hedge funds own 79.91% of the company's stock.

Insider Buying and Selling

In other Meta Platforms news, CEO Mark Zuckerberg sold 15,847 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $753.43, for a total value of $11,939,605.21. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Christopher K. Cox sold 60,000 shares of the firm's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $775.95, for a total value of $46,557,000.00. Following the completion of the sale, the insider owned 237,205 shares in the company, valued at $184,059,219.75. The trade was a 20.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 275,024 shares of company stock worth $199,983,159 over the last ninety days. 13.61% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Sanford C. Bernstein lifted their target price on shares of Meta Platforms from $775.00 to $900.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Piper Sandler lifted their target price on shares of Meta Platforms from $808.00 to $880.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Pivotal Research lifted their price objective on shares of Meta Platforms from $830.00 to $930.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Moffett Nathanson lifted their price objective on shares of Meta Platforms from $525.00 to $605.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Finally, UBS Group lifted their price objective on shares of Meta Platforms from $812.00 to $897.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $822.41.

Meta Platforms Stock Performance

META traded up $7.47 during trading hours on Friday, hitting $769.30. 7,308,601 shares of the stock were exchanged, compared to its average volume of 13,419,927. The stock has a 50-day simple moving average of $714.53 and a 200-day simple moving average of $651.01. Meta Platforms, Inc. has a 12 month low of $479.80 and a 12 month high of $784.75. The stock has a market cap of $1.93 trillion, a price-to-earnings ratio of 27.85, a price-to-earnings-growth ratio of 1.58 and a beta of 1.27. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.97 and a quick ratio of 1.97.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The social networking company reported $7.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.75 by $1.39. Meta Platforms had a return on equity of 39.33% and a net margin of 39.99%. The firm had revenue of $47.52 billion for the quarter, compared to analysts' expectations of $44.55 billion. During the same period last year, the business posted $5.16 earnings per share. The firm's revenue for the quarter was up 21.6% on a year-over-year basis. Analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were paid a dividend of $0.525 per share. The ex-dividend date was Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.3%. Meta Platforms's dividend payout ratio (DPR) is 7.60%.

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.