Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Global X Japan Co. Ltd.

Global X Japan Co. Ltd. boosted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 10.2% during the 1st quarter, Holdings Channel reports. The institutional investor owned 62,648 shares of the social networking company’s stock after buying an additional 5,802 shares during the quarter. Meta Platforms comprises approximately 4.2% of Global X Japan Co. Ltd.’s investment portfolio, making the stock its 6th largest holding. Global X Japan Co. Ltd.’s holdings in Meta Platforms were worth $36,108,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Millstone Evans Group LLC acquired a new stake in Meta Platforms during the 4th quarter worth about $40,000. WealthTrak Capital Management LLC acquired a new stake in Meta Platforms during the fourth quarter worth approximately $43,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in Meta Platforms in the fourth quarter worth approximately $45,000. Stuart Chaussee & Associates Inc. acquired a new position in Meta Platforms in the fourth quarter valued at approximately $47,000. Finally, Principia Wealth Advisory LLC lifted its stake in Meta Platforms by 53.6% in the first quarter. Principia Wealth Advisory LLC now owns 86 shares of the social networking company’s stock valued at $50,000 after buying an additional 30 shares during the period. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of META opened at $682.35 on Friday. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $740.91. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66. The stock’s fifty day moving average price is $618.10 and its two-hundred day moving average price is $623.08. The firm has a market cap of $1.72 trillion, a PE ratio of 26.61, a PEG ratio of 1.71 and a beta of 1.26.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.33 by $1.10. The business had revenue of $42.31 billion for the quarter, compared to analysts’ expectations of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same period in the previous year, the business posted $4.71 EPS. On average, equities research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date of this dividend is Monday, June 16th. Meta Platforms’s payout ratio is currently 8.19%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Wedbush boosted their target price on shares of Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. Scotiabank cut their price objective on shares of Meta Platforms from $627.00 to $525.00 and set a “sector perform” rating on the stock in a research report on Monday, April 21st. JPMorgan Chase & Co. raised their target price on Meta Platforms from $675.00 to $735.00 and gave the company an “overweight” rating in a research note on Wednesday, June 4th. Roth Capital upped their price target on Meta Platforms from $580.00 to $620.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Finally, Truist Financial increased their price target on Meta Platforms from $700.00 to $720.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $710.00.

Insider Activity at Meta Platforms

In other news, insider Jennifer Newstead sold 519 shares of Meta Platforms stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $701.99, for a total value of $364,332.81. Following the completion of the transaction, the insider now directly owns 28,664 shares in the company, valued at approximately $20,121,841.36. The trade was a 1.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Andrew Bosworth sold 5,057 shares of the business’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total value of $3,334,383.52. Following the sale, the chief technology officer now owns 16,463 shares in the company, valued at approximately $10,855,043.68. The trade was a 23.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 111,031 shares of company stock worth $73,954,565. 13.61% of the stock is owned by corporate insiders.

Meta Platforms Company 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.