Mirae Asset Global Investments Co. Ltd. Has $777.45 Million Stake in Meta Platforms, Inc. $META

Key Points

• Mirae Asset Global Investments Co. Ltd. reduced its stake in Meta Platforms, Inc. by 14.0% in Q2 2023, owning 1,053,323 shares valued at approximately $777.45 million, making it the 7th largest holding in its portfolio.
• Insider Jennifer Newstead sold 519 shares of Meta Platforms stock, decreasing her ownership by 1.74%, while insider Robert M. Kimmitt sold 465 shares, reducing his position by 5.24%.
• Meta Platforms announced a quarterly dividend of $0.525, resulting in an annualized dividend yield of 0.3%, with a payout ratio of 7.60%.

Mirae Asset Global Investments Co. Ltd. trimmed its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 14.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,053,323 shares of the social networking company's stock after selling 172,084 shares during the quarter. Meta Platforms makes up about 2.7% of Mirae Asset Global Investments Co. Ltd.'s investment portfolio, making the stock its 7th largest holding. Mirae Asset Global Investments Co. Ltd.'s holdings in Meta Platforms were worth $777,447,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in META. Brighton Jones LLC boosted its stake in Meta Platforms by 1.7% during the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock valued at $20,230,000 after purchasing an additional 570 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in shares of Meta Platforms by 10.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company's stock worth $5,537,000 after buying an additional 875 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Meta Platforms by 16.7% in the first quarter. GAMMA Investing LLC now owns 40,691 shares of the social networking company's stock valued at $23,453,000 after buying an additional 5,829 shares during the period. Trueblood Wealth Management LLC boosted its stake in Meta Platforms by 32.7% during the first quarter. Trueblood Wealth Management LLC now owns 1,120 shares of the social networking company's stock valued at $646,000 after buying an additional 276 shares in the last quarter. Finally, MV Capital Management Inc. grew its holdings in Meta Platforms by 17.4% during the first quarter. MV Capital Management Inc. now owns 2,276 shares of the social networking company's stock worth $1,312,000 after acquiring an additional 338 shares during the period. 79.91% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 519 shares of the stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $716.98, for a total transaction of $372,112.62. Following the transaction, the insider directly owned 29,313 shares of the company's stock, valued at $21,016,834.74. This represents a 1.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert M. Kimmitt sold 465 shares of the business's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $757.47, for a total value of $352,223.55. Following the completion of the sale, the director directly owned 8,412 shares of the company's stock, valued at $6,371,837.64. This represents a 5.24% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 214,182 shares of company stock worth $164,946,219. Corporate insiders own 13.61% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on META. Scotiabank raised their price objective on shares of Meta Platforms from $675.00 to $685.00 and gave the company a "sector perform" rating in a research report on Thursday, July 31st. Roth Capital increased their target price on shares of Meta Platforms from $620.00 to $740.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Pivotal Research lifted their price target on shares of Meta Platforms from $830.00 to $930.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Wells Fargo & Company upped their price target on Meta Platforms from $811.00 to $837.00 and gave the company an "overweight" rating in a report on Tuesday. Finally, Loop Capital reiterated a "buy" rating and set a $980.00 price objective (up previously from $888.00) on shares of Meta Platforms in a research report on Tuesday, August 5th. Four analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $830.68.

Meta Platforms Stock Up 2.2%

META opened at $733.51 on Friday. The company has a market capitalization of $1.84 trillion, a PE ratio of 26.56, a price-to-earnings-growth ratio of 1.50 and a beta of 1.20. 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, Inc. has a fifty-two week low of $479.80 and a fifty-two week high of $796.25. The business has a 50-day moving average of $753.09 and a 200-day moving average of $678.22.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The social networking company reported $7.14 EPS for the quarter, topping analysts' consensus estimates of $5.75 by $1.39. The firm had revenue of $47.52 billion for the quarter, compared to the consensus estimate of $44.55 billion. Meta Platforms had a return on equity of 39.33% and a net margin of 39.99%.The firm's revenue was up 21.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.16 earnings per share. Meta Platforms has set its Q3 2025 guidance at EPS. Equities research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 22nd were paid a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 22nd. Meta Platforms's payout ratio is presently 7.60%.

About Meta Platforms

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.

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