Meiji Yasuda America Inc Takes Position in Meta Platforms, Inc. $META

Meiji Yasuda America Inc acquired a new stake in Meta Platforms, Inc. (NASDAQ:METAFree Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 25,534 shares of the social networking company’s stock, valued at approximately $16,855,000. Meta Platforms accounts for 3.9% of Meiji Yasuda America Inc’s holdings, making the stock its 7th biggest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Westchester Capital Management Inc. purchased a new stake in Meta Platforms during the third quarter worth approximately $26,000. RHL Group LLC purchased a new stake in Meta Platforms during the fourth quarter worth approximately $28,000. Strategic Wealth Advisors LLC purchased a new stake in Meta Platforms during the fourth quarter worth approximately $29,000. Key Capital Management INC purchased a new stake in Meta Platforms during the fourth quarter worth approximately $48,000. Finally, Entrust Financial LLC purchased a new stake in Meta Platforms during the fourth quarter worth approximately $48,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Down 0.4%

NASDAQ:META opened at $568.43 on Friday. The firm has a market cap of $1.44 trillion, a P/E ratio of 20.66, a PEG ratio of 1.01 and a beta of 1.23. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.24. The stock’s 50 day simple moving average is $621.39 and its 200-day simple moving average is $636.37. Meta Platforms, Inc. has a 12-month low of $520.26 and a 12-month high of $796.25.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The social networking company reported $10.44 earnings per share for the quarter, topping analysts’ consensus estimates of $6.67 by $3.77. Meta Platforms had a return on equity of 36.93% and a net margin of 32.84%.The firm had revenue of $56.31 billion for the quarter, compared to analyst estimates of $55.56 billion. During the same quarter in the prior year, the company posted $6.43 earnings per share. Meta Platforms’s quarterly revenue was up 33.1% on a year-over-year basis. Equities analysts anticipate that Meta Platforms, Inc. will post 29.35 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Monday, June 15th will be issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, June 15th. Meta Platforms’s dividend payout ratio is currently 7.63%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on META shares. KeyCorp restated an “overweight” rating and set a $760.00 target price on shares of Meta Platforms in a research note on Thursday, April 30th. Truist Financial cut their price target on Meta Platforms from $900.00 to $840.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Rosenblatt Securities reaffirmed a “buy” rating and set a $1,015.00 price target on shares of Meta Platforms in a research report on Thursday, May 28th. Cantor Fitzgerald cut their price target on Meta Platforms from $850.00 to $750.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Finally, Susquehanna raised Meta Platforms from a “positive” rating to a “positive” rating in a research report on Tuesday, June 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $840.60.

Get Our Latest Stock Report on META

Insiders Place Their Bets

In related news, CFO Susan J. Li sold 9,195 shares of the company’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $607.84, for a total transaction of $5,589,088.80. Following the transaction, the chief financial officer owned 13,186 shares of the company’s stock, valued at $8,014,978.24. This represents a 41.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Javier Olivan sold 2,778 shares of the company’s stock in a transaction on Monday, April 13th. The stock was sold at an average price of $629.45, for a total value of $1,748,612.10. Following the transaction, the chief operating officer directly owned 10,557 shares in the company, valued at $6,645,103.65. This represents a 20.83% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 41,305 shares of company stock worth $25,567,928. Insiders own 13.53% of the company’s stock.

Key Headlines Impacting Meta Platforms

Here are the key news stories impacting Meta Platforms this week:

Meta Platforms Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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