Meta Platforms, Inc. (NASDAQ:META) is Global X Japan Co. Ltd.’s 8th Largest Position

Global X Japan Co. Ltd. increased its position in Meta Platforms, Inc. (NASDAQ:META) by 19.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 56,055 shares of the social networking company’s stock after acquiring an additional 9,219 shares during the period. Meta Platforms comprises approximately 4.1% of Global X Japan Co. Ltd.’s holdings, making the stock its 8th largest position. Global X Japan Co. Ltd.’s holdings in Meta Platforms were worth $32,088,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. G&S Capital LLC purchased a new stake in Meta Platforms during the 1st quarter valued at $218,000. Aspiriant LLC raised its stake in Meta Platforms by 13.9% during the 1st quarter. Aspiriant LLC now owns 13,355 shares of the social networking company’s stock valued at $6,485,000 after buying an additional 1,633 shares during the last quarter. RFG Holdings Inc. purchased a new stake in Meta Platforms during the 1st quarter valued at $512,000. Defined Wealth Management LLC bought a new stake in shares of Meta Platforms during the 1st quarter valued at $240,000. Finally, DGS Capital Management LLC grew its position in shares of Meta Platforms by 15.7% during the 1st quarter. DGS Capital Management LLC now owns 12,364 shares of the social networking company’s stock valued at $6,004,000 after acquiring an additional 1,681 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Mizuho boosted their price objective on shares of Meta Platforms from $600.00 to $650.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Cantor Fitzgerald reissued an “overweight” rating and set a $670.00 price objective on shares of Meta Platforms in a research report on Wednesday, October 16th. UBS Group boosted their price objective on shares of Meta Platforms from $635.00 to $690.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Morgan Stanley boosted their price objective on shares of Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, Robert W. Baird boosted their price objective on shares of Meta Platforms from $530.00 to $605.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $619.20.

Insider Buying and Selling

In related news, CFO Susan J. Li sold 33,018 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Susan J. Li sold 33,018 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 901 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $451.15, for a total transaction of $406,486.15. Following the completion of the sale, the insider now directly owns 33,324 shares in the company, valued at $15,034,122.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 250,817 shares of company stock valued at $132,547,715 in the last ninety days. 13.71% of the stock is owned by company insiders.

Meta Platforms Stock Up 0.7 %

Shares of NASDAQ META opened at $567.78 on Friday. The firm’s 50-day moving average price is $549.53 and its 200-day moving average price is $509.99. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $1.44 trillion, a price-to-earnings ratio of 32.61, a P/E/G ratio of 1.45 and a beta of 1.22. Meta Platforms, Inc. has a 12-month low of $279.40 and a 12-month high of $602.95.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.46. The firm had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business’s revenue was up 22.1% compared to the same quarter last year. During the same period in the prior year, the company earned $3.23 EPS. On average, equities research analysts anticipate that Meta Platforms, Inc. will post 21.37 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is currently 11.49%.

Meta Platforms 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.