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

Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 12.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 946,268 shares of the social networking company’s stock after buying an additional 101,344 shares during the period. Meta Platforms makes up approximately 2.3% of Mirae Asset Global Investments Co. Ltd.’s investment portfolio, making the stock its 8th biggest holding. Mirae Asset Global Investments Co. Ltd.’s holdings in Meta Platforms were worth $532,147,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Delos Wealth Advisors LLC raised its holdings in shares of Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after purchasing an additional 58 shares during the last quarter. POM Investment Strategies LLC purchased a new position in shares of Meta Platforms during the second quarter worth $38,000. Ruedi Wealth Management Inc. raised its holdings in shares of Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after purchasing an additional 44 shares during the last quarter. Halpern Financial Inc. purchased a new position in shares of Meta Platforms during the third quarter worth $46,000. Finally, West Financial Advisors LLC purchased a new position in shares of Meta Platforms during the third quarter worth $49,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 150 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $500.49, for a total value of $75,073.50. Following the transaction, the chief executive officer now directly owns 124,387 shares in the company, valued at approximately $62,254,449.63. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, COO Javier Olivan sold 412 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $521.48, for a total transaction of $214,849.76. Following the sale, the chief operating officer now directly owns 5,147 shares of the company’s stock, valued at $2,684,057.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 150 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $500.49, for a total transaction of $75,073.50. Following the sale, the chief executive officer now directly owns 124,387 shares in the company, valued at approximately $62,254,449.63. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 250,817 shares of company stock worth $132,547,715. 13.71% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Pivotal Research assumed coverage on shares of Meta Platforms in a report on Tuesday, October 1st. They issued a “buy” rating and a $780.00 price objective for the company. Scotiabank assumed coverage on shares of Meta Platforms in a report on Friday, October 11th. They issued a “sector perform” rating and a $585.00 price objective for the company. Citigroup lifted their price objective on shares of Meta Platforms from $580.00 to $645.00 and gave the company a “buy” rating in a report on Monday, September 23rd. TD Securities lifted their price objective on shares of Meta Platforms from $530.00 to $600.00 in a report on Wednesday, July 10th. Finally, BMO Capital Markets lifted their price objective on shares of Meta Platforms from $475.00 to $525.00 and gave the company a “market perform” rating in a report on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $621.63.

Meta Platforms Stock Performance

NASDAQ:META opened at $578.16 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. The firm has a market capitalization of $1.47 trillion, a price-to-earnings ratio of 33.21, a PEG ratio of 1.42 and a beta of 1.22. The company’s 50-day moving average is $552.03 and its two-hundred day moving average is $511.04. Meta Platforms, Inc. has a 1-year low of $296.86 and a 1-year high of $602.95.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. During the same period in the previous year, the business posted $3.23 EPS. Meta Platforms’s revenue was up 22.1% on a year-over-year basis. Analysts forecast that Meta Platforms, Inc. will post 21.44 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. Meta Platforms’s dividend payout ratio is currently 11.49%.

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.