Mitsubishi UFJ Asset Management UK Ltd. Has $2.62 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Mitsubishi UFJ Asset Management UK Ltd. reduced its stake in Meta Platforms, Inc. (NASDAQ:META) by 38.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,200 shares of the social networking company’s stock after selling 3,300 shares during the quarter. Meta Platforms comprises 1.4% of Mitsubishi UFJ Asset Management UK Ltd.’s holdings, making the stock its 18th largest holding. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in Meta Platforms were worth $2,622,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in META. Norges Bank bought a new position in shares of Meta Platforms in the 4th quarter worth $11,285,855,000. Capital Research Global Investors raised its stake in Meta Platforms by 17.2% in the 4th quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock valued at $10,695,722,000 after acquiring an additional 4,440,229 shares during the period. Concentrum Wealth Management increased its stake in shares of Meta Platforms by 111.0% in the fourth quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after purchasing an additional 3,888,308 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Meta Platforms by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock valued at $65,960,215,000 after purchasing an additional 3,104,550 shares during the period. Finally, Jennison Associates LLC grew its stake in Meta Platforms by 24.7% in the 1st quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock valued at $6,733,731,000 after buying an additional 2,748,620 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Meta Platforms

In other news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $477.00, for a total value of $431,685.00. Following the transaction, the insider now directly owns 41,465 shares in the company, valued at $19,778,805. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Meta Platforms news, Director Sheryl Sandberg sold 105,000 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $476.71, for a total transaction of $50,054,550.00. Following the transaction, the director now owns 630,293 shares in the company, valued at $300,466,976.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $477.00, for a total transaction of $431,685.00. Following the completion of the sale, the insider now owns 41,465 shares of the company’s stock, valued at approximately $19,778,805. The disclosure for this sale can be found here. Insiders have sold 434,477 shares of company stock valued at $220,437,187 over the last quarter. 13.71% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on META. JPMorgan Chase & Co. lifted their price target on Meta Platforms from $480.00 to $610.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Truist Financial lifted their price target on Meta Platforms from $535.00 to $570.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Bank of America raised their price objective on shares of Meta Platforms from $550.00 to $563.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Sanford C. Bernstein upped their target price on shares of Meta Platforms from $565.00 to $575.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, thirty-three have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and an average price target of $574.41.

Meta Platforms Stock Down 0.1 %

META stock traded down $0.40 during midday trading on Tuesday, hitting $520.72. The company’s stock had a trading volume of 1,242,312 shares, compared to its average volume of 16,090,554. The firm’s 50-day moving average is $503.25 and its 200-day moving average is $491.66. The company has a current ratio of 2.83, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The company has a market cap of $1.32 trillion, a PE ratio of 29.93, a P/E/G ratio of 1.27 and a beta of 1.21. Meta Platforms, Inc. has a 12 month low of $279.40 and a 12 month high of $544.23.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping 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 business had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. During the same period last year, the firm earned $3.23 earnings per share. The company’s quarterly revenue was up 22.1% on a year-over-year basis. On average, equities research analysts forecast that Meta Platforms, Inc. will post 20.5 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date was Friday, June 14th. Meta Platforms’s payout ratio is 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.