Korea Investment CORP Has $509.22 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

Korea Investment CORP lessened its holdings in Meta Platforms, Inc. (NASDAQ:META) by 3.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,774,391 shares of the social networking company’s stock after selling 71,218 shares during the quarter. Meta Platforms accounts for 1.4% of Korea Investment CORP’s investment portfolio, making the stock its 8th largest position. Korea Investment CORP owned approximately 0.07% of Meta Platforms worth $509,215,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Farmers & Merchants Investments Inc. grew its position in Meta Platforms by 1.6% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 2,060 shares of the social networking company’s stock worth $591,000 after acquiring an additional 33 shares during the last quarter. Little House Capital LLC grew its position in Meta Platforms by 0.5% during the 2nd quarter. Little House Capital LLC now owns 6,443 shares of the social networking company’s stock worth $1,849,000 after acquiring an additional 34 shares during the last quarter. McLean Asset Management Corp lifted its holdings in Meta Platforms by 3.2% in the 2nd quarter. McLean Asset Management Corp now owns 1,127 shares of the social networking company’s stock worth $323,000 after buying an additional 35 shares during the period. Wells Trecaso Financial Group LLC lifted its holdings in Meta Platforms by 1.1% in the 2nd quarter. Wells Trecaso Financial Group LLC now owns 3,255 shares of the social networking company’s stock worth $934,000 after buying an additional 37 shares during the period. Finally, Norway Savings Bank lifted its holdings in Meta Platforms by 1.7% in the 2nd quarter. Norway Savings Bank now owns 2,331 shares of the social networking company’s stock worth $669,000 after buying an additional 40 shares during the period. Institutional investors own 62.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on META shares. Barclays dropped their price objective on Meta Platforms from $410.00 to $400.00 and set an “overweight” rating for the company in a report on Thursday, October 26th. Wells Fargo & Company raised their target price on Meta Platforms from $372.00 to $380.00 and gave the company an “overweight” rating in a research note on Thursday, October 26th. Mizuho raised their target price on Meta Platforms from $280.00 to $350.00 and gave the company a “buy” rating in a research note on Tuesday, July 25th. UBS Group raised their target price on Meta Platforms from $335.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday, July 27th. Finally, Piper Sandler lowered their price objective on Meta Platforms from $365.00 to $355.00 and set an “overweight” rating for the company in a research note on Thursday, October 26th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, forty-three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $348.26.

Insiders Place Their Bets

In other Meta Platforms news, CTO Andrew Bosworth sold 8,031 shares of the stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $336.31, for a total transaction of $2,700,905.61. Following the sale, the chief technology officer now directly owns 15,013 shares of the company’s stock, valued at approximately $5,049,022.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Mark Zuckerberg sold 28,009 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $310.60, for a total transaction of $8,699,595.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CTO Andrew Bosworth sold 8,031 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $336.31, for a total transaction of $2,700,905.61. Following the completion of the transaction, the chief technology officer now directly owns 15,013 shares in the company, valued at $5,049,022.03. The disclosure for this sale can be found here. In the last three months, insiders have sold 231,873 shares of company stock valued at $75,354,118. Company insiders own 13.75% of the company’s stock.

Meta Platforms Stock Down 0.6 %

Shares of META traded down $1.88 during midday trading on Tuesday, hitting $338.09. 5,069,105 shares of the company’s stock traded hands, compared to its average volume of 25,147,709. Meta Platforms, Inc. has a 1 year low of $108.32 and a 1 year high of $341.87. The firm’s fifty day moving average is $312.20 and its 200-day moving average is $293.76. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $868.84 billion, a price-to-earnings ratio of 30.01, a price-to-earnings-growth ratio of 1.10 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, October 25th. The social networking company reported $4.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.62 by $0.77. The company had revenue of $34.15 billion during the quarter, compared to analyst estimates of $33.58 billion. Meta Platforms had a return on equity of 26.40% and a net margin of 23.42%. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter last year, the business posted $1.64 EPS. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 14.18 earnings per share for the current year.

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.