Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 38.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,225,407 shares of the social networking company's stock after buying an additional 338,749 shares during the period. Meta Platforms makes up approximately 1.9% of Mirae Asset Global Investments Co. Ltd.'s holdings, making the stock its 10th largest holding. Mirae Asset Global Investments Co. Ltd.'s holdings in Meta Platforms were worth $706,276,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fjell Capital LLC purchased a new stake in Meta Platforms in the 4th quarter valued at approximately $1,836,000. Opulen Financial Group LLC acquired a new position in shares of Meta Platforms in the fourth quarter worth $325,000. Daner Wealth Management LLC purchased a new stake in shares of Meta Platforms in the fourth quarter valued at $334,000. Brighton Jones LLC boosted its stake in shares of Meta Platforms by 1.7% during the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock valued at $20,230,000 after acquiring an additional 570 shares during the last quarter. Finally, Revolve Wealth Partners LLC boosted its stake in shares of Meta Platforms by 10.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company's stock valued at $5,537,000 after acquiring an additional 875 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 22,449 shares of Meta Platforms stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the sale, the chief technology officer directly owned 1,183 shares in the company, valued at $753,393.55. The trade was a 94.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 13,793 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $701.13, for a total value of $9,670,686.09. Following the completion of the transaction, the chief executive officer directly owned 118,279 shares in the company, valued at approximately $82,928,955.27. The trade was a 10.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 137,095 shares of company stock valued at $93,076,345. Insiders own 13.61% of the company's stock.

Meta Platforms Stock Down 0.0%

Shares of META stock traded down $0.18 on Wednesday, hitting $719.04. The stock had a trading volume of 2,521,804 shares, compared to its average volume of 16,081,787. The stock's 50 day moving average is $647.96 and its 200-day moving average is $627.91. The firm has a market capitalization of $1.81 trillion, a price-to-earnings ratio of 28.06, a P/E/G ratio of 1.81 and a beta of 1.28. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $747.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. The firm had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The firm's revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.71 EPS. As a group, research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were paid a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.29%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms's dividend payout ratio (DPR) is 8.19%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on META shares. Evercore ISI boosted their target price on shares of Meta Platforms from $725.00 to $750.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Monness Crespi & Hardt lifted their price target on shares of Meta Platforms from $775.00 to $780.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Citigroup upped their price objective on shares of Meta Platforms from $690.00 to $803.00 and gave the company a "buy" rating in a research note on Tuesday, June 24th. Moffett Nathanson raised their target price on shares of Meta Platforms from $525.00 to $605.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Finally, Needham & Company LLC reaffirmed an "underperform" rating on shares of Meta Platforms in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $719.29.

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.