Mitsubishi UFJ Asset Management UK Ltd. decreased its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 44.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,200 shares of the social networking company's stock after selling 5,000 shares during the quarter. Meta Platforms comprises approximately 1.9% of Mitsubishi UFJ Asset Management UK Ltd.'s portfolio, making the stock its 12th biggest holding. Mitsubishi UFJ Asset Management UK Ltd.'s holdings in Meta Platforms were worth $3,573,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Inlight Wealth Management LLC acquired a new position in shares of Meta Platforms in the 1st quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Meta Platforms in the 1st quarter valued at approximately $28,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of Meta Platforms in the 1st quarter valued at approximately $33,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Meta Platforms in the 4th quarter valued at approximately $45,000. Finally, JCIC Asset Management Inc. boosted its position in Meta Platforms by 102.6% during the 1st quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company's stock valued at $46,000 after purchasing an additional 40 shares during the period. Hedge funds and other institutional investors own 79.91% of the company's stock.
Insider Buying and Selling at Meta Platforms
In other news, insider Christopher K. Cox sold 60,000 shares of the company's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $775.95, for a total transaction of $46,557,000.00. Following the transaction, the insider owned 237,205 shares of the company's stock, valued at $184,059,219.75. This represents a 20.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Mark Zuckerberg sold 15,847 shares of the company's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $753.43, for a total value of $11,939,605.21. The disclosure for this sale can be found here. Insiders have sold 269,243 shares of company stock worth $200,605,051 in the last ninety days. 13.61% of the stock is currently owned by insiders.
Meta Platforms Price Performance
Meta Platforms stock opened at $785.23 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.97 and a current ratio of 1.97. The firm has a market cap of $1.97 trillion, a P/E ratio of 28.43, a P/E/G ratio of 1.63 and a beta of 1.27. The business's fifty day moving average is $724.43 and its two-hundred day moving average is $655.43. Meta Platforms, Inc. has a 52 week low of $479.80 and a 52 week high of $796.25.
Meta Platforms (NASDAQ:META - Get Free Report) last posted 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 company had revenue of $47.52 billion for the quarter, compared to analyst estimates of $44.55 billion. Meta Platforms had a return on equity of 39.33% and a net margin of 39.99%. The business's revenue was up 21.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.16 earnings per share. Equities research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.
Meta Platforms Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms's dividend payout ratio is 7.60%.
Analyst Ratings Changes
A number of research analysts have issued reports on the company. HSBC upgraded Meta Platforms from a "hold" rating to a "buy" rating and boosted their price target for the stock from $610.00 to $900.00 in a research report on Thursday, July 31st. KeyCorp upped their target price on Meta Platforms from $800.00 to $905.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Rosenblatt Securities upped their price target on Meta Platforms from $846.00 to $918.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Stifel Nicolaus increased their price objective on Meta Platforms from $845.00 to $900.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Finally, JPMorgan Chase & Co. raised their price objective on Meta Platforms from $795.00 to $875.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Four investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $822.41.
Check Out Our Latest Report on Meta Platforms
About Meta Platforms
(
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.
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