Meta Platforms, Inc. (NASDAQ:META) Shares Sold by FUKOKU MUTUAL LIFE INSURANCE Co

FUKOKU MUTUAL LIFE INSURANCE Co trimmed its holdings in Meta Platforms, Inc. (NASDAQ:META) by 5.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 10,519 shares of the social networking company’s stock after selling 591 shares during the quarter. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Meta Platforms were worth $6,021,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in META. POM Investment Strategies LLC acquired a new position in shares of Meta Platforms during the second quarter valued at $38,000. Ruedi Wealth Management Inc. grew its position in Meta Platforms by 122.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after buying an additional 44 shares in the last quarter. Halpern Financial Inc. acquired a new position in Meta Platforms during the 3rd quarter valued at about $46,000. West Financial Advisors LLC bought a new stake in shares of Meta Platforms during the 3rd quarter worth about $49,000. Finally, NewSquare Capital LLC lifted its stake in shares of Meta Platforms by 221.9% in the 2nd quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock worth $52,000 after acquiring an additional 71 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $528.38, for a total transaction of $478,183.90. Following the completion of the transaction, the insider now directly owns 40,532 shares in the company, valued at $21,416,298.16. The trade was a 2.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 84 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $600.00, for a total transaction of $50,400.00. Following the completion of the sale, the chief executive officer now owns 518,424 shares in the company, valued at approximately $311,054,400. The trade was a 0.02 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 141,498 shares of company stock valued at $75,732,154. Insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on META shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $670.00 price objective on shares of Meta Platforms in a research note on Wednesday, October 16th. Monness Crespi & Hardt upped their price objective on Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft lifted their target price on Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Scotiabank dropped their price target on shares of Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 31st. Finally, TD Cowen raised their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $634.10.

Meta Platforms Stock Down 4.0 %

Shares of Meta Platforms stock opened at $554.08 on Monday. Meta Platforms, Inc. has a 12-month low of $313.66 and a 12-month high of $602.95. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The stock has a 50 day moving average price of $568.11 and a two-hundred day moving average price of $521.17. The stock has a market capitalization of $1.40 trillion, a P/E ratio of 26.10, a PEG ratio of 1.23 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.19 by $0.84. The business had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Equities analysts expect that Meta Platforms, Inc. will post 22.53 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.36%. Meta Platforms’s payout ratio is presently 9.42%.

About Meta Platforms

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.