Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp decreased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 5.8% in the 1st quarter, HoldingsChannel reports. The firm owned 1,811,860 shares of the social networking company’s stock after selling 112,010 shares during the period. Meta Platforms makes up approximately 2.0% of Mitsubishi UFJ Trust & Banking Corp’s holdings, making the stock its 5th largest holding. Mitsubishi UFJ Trust & Banking Corp’s holdings in Meta Platforms were worth $880,966,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Quest Partners LLC bought a new position in Meta Platforms during the 4th quarter worth $32,000. Clear Investment Research LLC increased its position in Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after buying an additional 74 shares during the period. Delos Wealth Advisors LLC increased its position in Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after buying an additional 58 shares during the period. Cranbrook Wealth Management LLC increased its position in Meta Platforms by 80.4% during the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after buying an additional 45 shares during the period. Finally, Gilfoyle & Co LLC bought a new position in Meta Platforms during the 4th quarter worth $39,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft lowered their price objective on Meta Platforms from $540.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Wells Fargo & Company increased their price objective on Meta Platforms from $593.00 to $625.00 and gave the stock an “overweight” rating in a research report on Monday, July 8th. JMP Securities restated a “market outperform” rating and issued a $550.00 price target on shares of Meta Platforms in a research report on Monday, April 22nd. Barclays decreased their price target on Meta Platforms from $550.00 to $520.00 and set an “overweight” rating on the stock in a research report on Thursday, April 25th. Finally, Citigroup decreased their price target on Meta Platforms from $590.00 to $550.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-six have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and a consensus price target of $519.10.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $491.25, for a total value of $287,381.25. Following the transaction, the insider now directly owns 37,228 shares of the company’s stock, valued at $18,288,255. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Meta Platforms news, CEO Mark Zuckerberg sold 1,712 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $502.27, for a total value of $859,886.24. Following the transaction, the chief executive officer now directly owns 129,888 shares of the company’s stock, valued at $65,238,845.76. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $491.25, for a total value of $287,381.25. Following the sale, the insider now owns 37,228 shares of the company’s stock, valued at approximately $18,288,255. The disclosure for this sale can be found here. Insiders have sold a total of 311,106 shares of company stock valued at $154,542,945 over the last ninety days. 13.71% of the stock is owned by company insiders.

Meta Platforms Trading Up 0.2 %

Shares of Meta Platforms stock traded up $0.94 during midday trading on Friday, reaching $476.79. The company had a trading volume of 15,149,416 shares, compared to its average volume of 13,694,282. The stock has a fifty day moving average price of $493.41 and a 200 day moving average price of $471.18. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. The firm has a market cap of $1.21 trillion, a PE ratio of 27.39, a P/E/G ratio of 1.23 and a beta of 1.21. Meta Platforms, Inc. has a fifty-two week low of $274.38 and a fifty-two week high of $542.81.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. The company had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. On average, equities analysts anticipate that Meta Platforms, Inc. will post 20.21 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s dividend payout ratio 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.