Global X Japan Co. Ltd. Boosts Position in Meta Platforms, Inc. $META

Global X Japan Co. Ltd. lifted its position in Meta Platforms, Inc. (NASDAQ:META) by 6.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 62,053 shares of the social networking company’s stock after acquiring an additional 3,785 shares during the period. Meta Platforms comprises 3.9% of Global X Japan Co. Ltd.’s investment portfolio, making the stock its 7th largest holding. Global X Japan Co. Ltd.’s holdings in Meta Platforms were worth $45,570,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in META. Brighton Jones LLC raised its holdings in shares of Meta Platforms by 1.7% in the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock worth $20,230,000 after buying an additional 570 shares during the period. Revolve Wealth Partners LLC grew its position in Meta Platforms by 10.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company’s stock valued at $5,537,000 after acquiring an additional 875 shares during the last quarter. Headwater Capital Co Ltd increased its stake in Meta Platforms by 294.7% in the first quarter. Headwater Capital Co Ltd now owns 150,000 shares of the social networking company’s stock worth $86,454,000 after purchasing an additional 112,000 shares during the period. Magnetar Financial LLC bought a new stake in shares of Meta Platforms during the first quarter worth $214,000. Finally, Activest Wealth Management lifted its position in shares of Meta Platforms by 0.6% during the first quarter. Activest Wealth Management now owns 15,028 shares of the social networking company’s stock worth $8,662,000 after purchasing an additional 85 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on META. Wedbush cut their price target on shares of Meta Platforms from $920.00 to $880.00 and set an “outperform” rating on the stock in a report on Friday, December 19th. Royal Bank Of Canada dropped their target price on shares of Meta Platforms from $840.00 to $810.00 and set an “outperform” rating on the stock in a research note on Thursday, October 30th. Oppenheimer lowered shares of Meta Platforms from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 30th. Arete Research set a $718.00 price target on Meta Platforms in a report on Thursday, December 4th. Finally, Raymond James Financial restated a “strong-buy” rating and set a $825.00 price objective (down from $900.00) on shares of Meta Platforms in a report on Thursday, October 30th. Four research analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $820.22.

Meta Platforms Price Performance

Meta Platforms stock opened at $663.29 on Friday. The stock has a market capitalization of $1.67 trillion, a P/E ratio of 29.30, a P/E/G ratio of 1.37 and a beta of 1.28. The company’s fifty day moving average price is $654.81 and its 200 day moving average price is $706.30. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.98 and a current ratio of 1.98. Meta Platforms, Inc. has a 1 year low of $479.80 and a 1 year high of $796.25.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, October 29th. The social networking company reported $7.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.74 by $0.51. Meta Platforms had a net margin of 30.89% and a return on equity of 39.35%. The business had revenue of $51.24 billion for the quarter, compared to the consensus estimate of $49.34 billion. During the same period last year, the firm posted $6.03 earnings per share. The company’s revenue was up 26.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 23rd. Investors of record on Monday, December 15th were paid a $0.525 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. Meta Platforms’s dividend payout ratio (DPR) is currently 9.28%.

Insider Buying and Selling

In other Meta Platforms news, COO Javier Olivan sold 517 shares of the stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $661.11, for a total transaction of $341,793.87. Following the completion of the transaction, the chief operating officer owned 12,717 shares of the company’s stock, valued at $8,407,335.87. This represents a 3.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Newstead sold 519 shares of the firm’s stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $659.38, for a total value of $342,218.22. Following the completion of the transaction, the insider owned 29,177 shares in the company, valued at approximately $19,238,730.26. This trade represents a 1.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 42,074 shares of company stock worth $26,359,548. Insiders own 13.61% of the company’s stock.

About Meta Platforms

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.