Global X Japan Co. Ltd. Buys 791 Shares of Meta Platforms, Inc. (NASDAQ:META)

Global X Japan Co. Ltd. raised its position in Meta Platforms, Inc. (NASDAQ:META) by 1.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 56,846 shares of the social networking company’s stock after purchasing an additional 791 shares during the period. Meta Platforms accounts for approximately 4.2% of Global X Japan Co. Ltd.’s portfolio, making the stock its 10th biggest holding. Global X Japan Co. Ltd.’s holdings in Meta Platforms were worth $33,284,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JDM Financial Group LLC purchased a new position in Meta Platforms in the 3rd quarter valued at $30,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Meta Platforms during the 3rd quarter worth $36,000. Avondale Wealth Management purchased a new position in shares of Meta Platforms during the 4th quarter worth $41,000. Cordant Inc. purchased a new position in shares of Meta Platforms during the 4th quarter worth $59,000. Finally, Reston Wealth Management LLC purchased a new position in shares of Meta Platforms during the 3rd quarter worth $61,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

META stock opened at $725.38 on Thursday. The business has a 50 day moving average price of $634.08 and a 200 day moving average price of $579.77. The stock has a market cap of $1.84 trillion, a price-to-earnings ratio of 30.33, a PEG ratio of 1.46 and a beta of 1.20. Meta Platforms, Inc. has a fifty-two week low of $414.50 and a fifty-two week high of $727.10. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, topping the consensus estimate of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same quarter in the previous year, the business earned $5.33 earnings per share. Equities research analysts anticipate that Meta Platforms, Inc. will post 26.66 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.28%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s payout ratio is 8.36%.

Insider Buying and Selling

In other Meta Platforms news, CAO Aaron Anderson sold 731 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $407,167.00. Following the completion of the sale, the chief accounting officer now owns 3,414 shares in the company, valued at approximately $1,901,598. The trade was a 17.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 35,795 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $715.82, for a total value of $25,622,776.90. The disclosure for this sale can be found here. Insiders sold a total of 812,198 shares of company stock worth $515,102,208 over the last 90 days. 13.71% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Royal Bank of Canada lifted their price target on Meta Platforms from $700.00 to $800.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Mizuho lifted their price target on Meta Platforms from $675.00 to $750.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Oppenheimer lifted their price target on Meta Platforms from $650.00 to $800.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. TD Cowen lifted their price target on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Finally, Susquehanna boosted their price objective on shares of Meta Platforms from $675.00 to $800.00 and gave the company a “positive” rating in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus price target of $717.90.

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.