State of Michigan Retirement System decreased its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 10.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 762,054 shares of the social networking company's stock after selling 87,360 shares during the quarter. Meta Platforms comprises 1.9% of State of Michigan Retirement System's investment portfolio, making the stock its 10th largest holding. State of Michigan Retirement System's holdings in Meta Platforms were worth $429,257,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of META. RHL Group LLC acquired a new position in Meta Platforms during the fourth quarter worth $28,000. Advantage Trust Co purchased a new position in shares of Meta Platforms in the second quarter valued at $28,000. Strategic Wealth Advisors LLC acquired a new position in shares of Meta Platforms during the 4th quarter worth $29,000. Niles Investment Management LLC acquired a new position in shares of Meta Platforms during the 4th quarter worth $29,000. Finally, Axiom Investment Management LLC purchased a new stake in shares of Meta Platforms in the 1st quarter worth about $36,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.
Meta Platforms Stock Performance
NASDAQ:META opened at $578.02 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.23 and a quick ratio of 2.23. The firm has a market cap of $1.47 trillion, a PE ratio of 21.77, a P/E/G ratio of 1.00 and a beta of 1.25. The firm has a 50 day simple moving average of $592.28 and a 200-day simple moving average of $611.14. Meta Platforms, Inc. has a 1-year low of $520.26 and a 1-year high of $790.80.
Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results on Wednesday, July 29th. The social networking company reported $6.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $7.19 by ($1.01). The firm had revenue of $60.80 billion for the quarter, compared to analyst estimates of $60.22 billion. Meta Platforms had a return on equity of 33.18% and a net margin of 29.83%.The firm's revenue was up 28.0% compared to the same quarter last year. During the same quarter last year, the business posted $7.14 EPS. On average, equities analysts expect that Meta Platforms, Inc. will post 28.17 EPS for the current year.
Insider Transactions at Meta Platforms
In other news, CTO Andrew Bosworth sold 7,848 shares of the company's stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $558.00, for a total transaction of $4,379,184.00. Following the completion of the sale, the chief technology officer directly owned 828 shares in the company, valued at $462,024. This represents a 90.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Curtis J. Mahoney sold 1,559 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $558.00, for a total value of $869,922.00. Following the completion of the transaction, the insider directly owned 1,957 shares in the company, valued at $1,092,006. This trade represents a 44.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 32,987 shares of company stock valued at $19,202,995 in the last quarter. Insiders own 13.53% of the company's stock.
Wall Street Analyst Weigh In
META has been the subject of several recent research reports. Susquehanna dropped their target price on shares of Meta Platforms from $900.00 to $650.00 and set a "positive" rating for the company in a report on Thursday, July 30th. Wall Street Zen downgraded shares of Meta Platforms from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. Bank of America dropped their price objective on shares of Meta Platforms from $835.00 to $810.00 and set a "buy" rating for the company in a research note on Thursday, July 30th. Rosenblatt Securities lifted their price objective on Meta Platforms from $883.00 to $886.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, Raymond James Financial upped their target price on Meta Platforms from $825.00 to $850.00 and gave the company a "strong-buy" rating in a research note on Tuesday, July 21st. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $785.22.
Check Out Our Latest Stock Report on META
Trending Headlines about Meta Platforms
Here are the key news stories impacting Meta Platforms this week:
- Positive Sentiment: The settlement limits litigation risk by resolving claims from a broad coalition of states without an admission of liability. Analysts view the payment as manageable relative to Meta’s revenue and cash generation, while the company avoids potentially disruptive court-ordered changes to products such as Reels, Stories and its recommendation systems. Meta's social media settlement leaves its money machine unscathed
- Positive Sentiment: Meta’s advertising engine continues to benefit from improved ad-ranking technology and growing advertiser use of artificial intelligence to create campaigns, supporting demand even as the company spends heavily on AI infrastructure. Ca$htag$: Meta's AI Bet Not Showing Returns, Yet
- Positive Sentiment: Rosenblatt raised its price target to $886 and maintained a buy rating, pointing to substantial potential upside from current levels. The stock’s valuation also remains below that of many large technology peers, strengthening the bargain argument for some investors. Meta price target raised by Rosenblatt
- Neutral Sentiment: The new teen safeguards—including time limits, muted notifications and stronger parental controls—could become a regulatory template for TikTok, YouTube, Snap and international markets. This creates industrywide compliance costs, but may also give Meta greater legal clarity. Meta settlement puts social media industry on notice
- Negative Sentiment: Investors still face execution and financial risks: age-verification technology may be unreliable, critics say the protections do not address teen mental-health concerns, and regulators in the U.K., South Korea and elsewhere may demand similar measures. Restrictions could eventually reduce teen engagement and advertising opportunities. Meta's child-safety deal and age verification
- Negative Sentiment: Meta’s substantial AI capital spending has not yet produced a proportionate revenue payoff, while an executive overseeing India and Southeast Asia is leaving for OpenAI. Those developments add to concerns about returns on investment and management stability. Meta executive leaves for OpenAI
Meta Platforms Company 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.
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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
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