MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $638.03 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. cut its holdings in Meta Platforms, Inc. (NASDAQ:META) by 16.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,088,591 shares of the social networking company’s stock after selling 211,102 shares during the period. Meta Platforms makes up approximately 1.3% of MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s portfolio, making the stock its 9th biggest position. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Meta Platforms were worth $638,033,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Millstone Evans Group LLC bought a new position in shares of Meta Platforms during the 4th quarter worth approximately $40,000. WealthTrak Capital Management LLC purchased a new position in Meta Platforms in the fourth quarter valued at approximately $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Meta Platforms in the fourth quarter valued at approximately $45,000. Cordant Inc. purchased a new position in Meta Platforms in the fourth quarter valued at approximately $59,000. Finally, Conquis Financial LLC purchased a new position in Meta Platforms in the fourth quarter valued at approximately $59,000. 79.91% of the stock is owned by institutional investors.

Insider Transactions at Meta Platforms

In related news, CTO Andrew Bosworth sold 5,060 shares of the firm’s stock in a transaction that occurred on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total transaction of $3,727,550.20. Following the completion of the transaction, the chief technology officer now owns 5,139 shares of the company’s stock, valued at $3,785,747.13. This trade represents a 49.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Javier Olivan sold 608 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $488.18, for a total value of $296,813.44. Following the transaction, the chief operating officer now directly owns 5,622 shares of the company’s stock, valued at approximately $2,744,547.96. This trade represents a 9.76% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 119,894 shares of company stock valued at $83,475,065. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Trading Down 0.9%

NASDAQ META opened at $592.49 on Monday. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $740.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The stock has a 50 day simple moving average of $568.87 and a two-hundred day simple moving average of $604.75. The stock has a market cap of $1.50 trillion, a P/E ratio of 24.77, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The firm had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. During the same quarter in the prior year, the company earned $4.71 EPS. The business’s revenue was up 16.1% compared to the same quarter last year. On average, analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were given a $0.525 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.10 annualized dividend and a dividend yield of 0.35%. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio is currently 8.19%.

Analysts Set New Price Targets

Several research firms recently commented on META. Royal Bank of Canada reiterated an “outperform” rating and issued a $740.00 price objective on shares of Meta Platforms in a research note on Thursday, May 1st. Monness Crespi & Hardt upped their price objective on Meta Platforms from $775.00 to $780.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Wells Fargo & Company lowered their target price on shares of Meta Platforms from $752.00 to $664.00 and set an “overweight” rating on the stock in a report on Thursday, May 1st. Tigress Financial reaffirmed a “strong-buy” rating on shares of Meta Platforms in a report on Tuesday, February 11th. Finally, Mizuho boosted their price objective on Meta Platforms from $675.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus price target of $696.45.

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.