Tokio Marine Asset Management Co. Ltd. Purchases 3,659 Shares of Meta Platforms, Inc. (NASDAQ:META)

Tokio Marine Asset Management Co. Ltd. raised its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 6.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 60,798 shares of the social networking company’s stock after acquiring an additional 3,659 shares during the quarter. Meta Platforms comprises 1.5% of Tokio Marine Asset Management Co. Ltd.’s investment portfolio, making the stock its 11th biggest holding. Tokio Marine Asset Management Co. Ltd.’s holdings in Meta Platforms were worth $34,803,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. POM Investment Strategies LLC acquired a new stake in Meta Platforms in the second quarter worth $38,000. Ruedi Wealth Management Inc. boosted its position in shares of Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after purchasing an additional 44 shares in the last quarter. Halpern Financial Inc. acquired a new stake in shares of Meta Platforms in the 3rd quarter valued at about $46,000. West Financial Advisors LLC bought a new stake in Meta Platforms in the 3rd quarter valued at about $49,000. Finally, NewSquare Capital LLC raised its stake in Meta Platforms by 221.9% during the 2nd quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock worth $52,000 after buying 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 Meta Platforms news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $528.38, for a total transaction of $478,183.90. Following the sale, the insider now owns 40,532 shares in the company, valued at $21,416,298.16. This trade represents a 2.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 84 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $600.00, for a total value of $50,400.00. Following the transaction, the chief executive officer now owns 518,424 shares in the company, valued at $311,054,400. This trade represents a 0.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 141,498 shares of company stock worth $75,732,154. Insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

META has been the subject of several recent research reports. Loop Capital boosted their price objective on Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Barclays upped their price objective on shares of Meta Platforms from $550.00 to $630.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Wells Fargo & Company decreased their target price on shares of Meta Platforms from $652.00 to $641.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Hsbc Global Res raised shares of Meta Platforms to a “hold” rating in a research report on Thursday, October 24th. Finally, KeyCorp boosted their price objective on Meta Platforms from $560.00 to $655.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $634.10.

Meta Platforms Stock Performance

Meta Platforms stock opened at $554.08 on Monday. Meta Platforms, Inc. has a 1-year low of $313.66 and a 1-year high of $602.95. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $1.40 trillion, a PE ratio of 26.10, a price-to-earnings-growth ratio of 1.23 and a beta of 1.22. The firm’s 50 day simple moving average is $568.11 and its 200 day simple moving average is $521.17.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping the consensus estimate of $5.19 by $0.84. The firm had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. As a group, analysts expect that Meta Platforms, Inc. will post 22.53 earnings per share for the current fiscal 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 issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.36%. The ex-dividend date was Monday, September 16th. Meta Platforms’s payout ratio is 9.42%.

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.