Meta Platforms, Inc. (NASDAQ:META) Position Reduced by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC reduced its holdings in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 2.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 288,449 shares of the social networking company’s stock after selling 8,640 shares during the quarter. Meta Platforms accounts for 1.5% of Mutual of America Capital Management LLC’s portfolio, making the stock its 6th largest position. Mutual of America Capital Management LLC’s holdings in Meta Platforms were worth $140,065,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in META. Baird Financial Group Inc. lifted its holdings in Meta Platforms by 24.2% in the 4th quarter. Baird Financial Group Inc. now owns 835,972 shares of the social networking company’s stock worth $295,901,000 after buying an additional 163,067 shares in the last quarter. California State Teachers Retirement System increased its position in shares of Meta Platforms by 1.5% in the 4th quarter. California State Teachers Retirement System now owns 3,576,285 shares of the social networking company’s stock worth $1,265,862,000 after purchasing an additional 51,900 shares during the last quarter. Donoghue Forlines LLC raised its stake in shares of Meta Platforms by 94.4% in the 4th quarter. Donoghue Forlines LLC now owns 8,349 shares of the social networking company’s stock valued at $2,955,000 after purchasing an additional 4,054 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Meta Platforms by 7.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company’s stock worth $159,841,000 after purchasing an additional 32,423 shares during the last quarter. Finally, Voyager Global Management LP grew its stake in Meta Platforms by 37.3% in the fourth quarter. Voyager Global Management LP now owns 515,000 shares of the social networking company’s stock worth $182,289,000 after purchasing an additional 140,000 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Up 0.1 %

NASDAQ:META opened at $530.00 on Wednesday. The business’s fifty day moving average price is $488.29 and its 200 day moving average price is $464.16. The firm has a market capitalization of $1.34 trillion, a price-to-earnings ratio of 30.44, a PEG ratio of 1.37 and a beta of 1.21. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 1-year low of $274.38 and a 1-year high of $542.81.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. The company had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. On average, sell-side analysts forecast that Meta Platforms, Inc. will post 20.15 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were issued a dividend of $0.50 per share. The ex-dividend date was Friday, June 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.38%. Meta Platforms’s dividend payout ratio is 11.49%.

Insider Activity at Meta Platforms

In other Meta Platforms news, Director Sheryl Sandberg sold 105,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total value of $50,054,550.00. Following the transaction, the director now directly owns 630,293 shares of the company’s stock, valued at approximately $300,466,976.03. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Mark Zuckerberg sold 8,727 shares of the company’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $528.87, for a total value of $4,615,448.49. Following the completion of the sale, the chief executive officer now directly owns 178,099 shares in the company, valued at $94,191,218.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sheryl Sandberg sold 105,000 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $476.71, for a total value of $50,054,550.00. Following the transaction, the director now owns 630,293 shares in the company, valued at $300,466,976.03. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 260,459 shares of company stock valued at $128,049,749. Insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on META. Stifel Nicolaus lifted their target price on Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Canaccord Genuity Group lowered their target price on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Wells Fargo & Company raised their price target on shares of Meta Platforms from $593.00 to $625.00 and gave the stock an “overweight” rating in a research report on Monday. Wolfe Research lowered their price objective on shares of Meta Platforms from $530.00 to $500.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Finally, KeyCorp increased their price objective on shares of Meta Platforms from $475.00 to $540.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $511.88.

Get Our Latest Report on META

Meta Platforms Company Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:METAFree Report).

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

Receive News & Ratings for Meta Platforms Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meta Platforms and related companies with MarketBeat.com's FREE daily email newsletter.