Nissay Asset Management Corp Japan ADV Has $230.88 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Nissay Asset Management Corp Japan ADV lessened its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 7.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 384,929 shares of the social networking company's stock after selling 31,603 shares during the period. Meta Platforms comprises approximately 1.4% of Nissay Asset Management Corp Japan ADV's portfolio, making the stock its 15th biggest position. Nissay Asset Management Corp Japan ADV's holdings in Meta Platforms were worth $230,884,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Millstone Evans Group LLC acquired a new stake in Meta Platforms during the fourth quarter valued at $40,000. WealthTrak Capital Management LLC acquired a new stake in Meta Platforms during the fourth quarter valued at $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Meta Platforms during the fourth quarter valued at $45,000. Cordant Inc. bought a new position in Meta Platforms during the fourth quarter valued at about $59,000. Finally, Conquis Financial LLC bought a new position in Meta Platforms during the fourth quarter valued at about $59,000. Institutional investors and hedge funds own 79.91% of the company's stock.

Meta Platforms Stock Up 2.6%

Shares of META opened at $656.03 on Wednesday. The company has a market capitalization of $1.66 trillion, a P/E ratio of 27.43, a PEG ratio of 1.42 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91. The business's 50 day simple moving average is $569.09 and its 200-day simple moving average is $605.57.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The firm had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter in the prior year, the business earned $4.71 EPS. The business's revenue for the quarter was up 16.1% compared to the same quarter last year. As a group, sell-side analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were issued a dividend of $0.525 per share. This is an increase from Meta Platforms's previous quarterly dividend of $0.50. The ex-dividend date was Friday, March 14th. This represents a $2.10 annualized dividend and a yield of 0.32%. Meta Platforms's dividend payout ratio is currently 8.19%.

Analyst Ratings Changes

Several research firms have weighed in on META. Barclays cut their target price on Meta Platforms from $705.00 to $640.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Needham & Company LLC restated an "underperform" rating on shares of Meta Platforms in a report on Thursday, May 1st. Argus set a $775.00 target price on Meta Platforms in a report on Tuesday, February 4th. Piper Sandler raised their target price on Meta Platforms from $610.00 to $650.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Finally, Arete Research upgraded Meta Platforms to a "hold" rating in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Meta Platforms currently has a consensus rating of "Moderate Buy" and a consensus target price of $696.45.

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 921 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $736.07, for a total transaction of $677,920.47. Following the transaction, the insider now owns 35,787 shares of the company's stock, valued at approximately $26,341,737.09. This represents a 2.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 19,668 shares of the company's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $734.49, for a total value of $14,445,949.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 99,324 shares of company stock valued at $68,637,452. 13.71% of the stock is currently owned by corporate insiders.

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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