Mutual of America Capital Management LLC Sells 4,918 Shares of Meta Platforms, Inc. (NASDAQ:META)

Mutual of America Capital Management LLC trimmed its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 1.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 257,872 shares of the social networking company's stock after selling 4,918 shares during the quarter. Meta Platforms accounts for about 1.7% 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 $148,627,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in META. Valley Financial Group Inc. raised its holdings in Meta Platforms by 2.4% in the fourth quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock worth $344,000 after purchasing an additional 14 shares in the last quarter. Lantern Wealth Advisors LLC boosted its position in Meta Platforms by 0.5% in the fourth quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company's stock valued at $1,743,000 after buying an additional 14 shares during the last quarter. ABLE Financial Group LLC increased its holdings in shares of Meta Platforms by 0.7% during the 4th quarter. ABLE Financial Group LLC now owns 2,136 shares of the social networking company's stock valued at $1,251,000 after purchasing an additional 15 shares in the last quarter. Mosaic Family Wealth Partners LLC lifted its stake in shares of Meta Platforms by 1.2% in the 4th quarter. Mosaic Family Wealth Partners LLC now owns 1,435 shares of the social networking company's stock valued at $840,000 after purchasing an additional 17 shares during the period. Finally, Orin Green Financial LLC lifted its position in shares of Meta Platforms by 2.2% during the 4th quarter. Orin Green Financial LLC now owns 795 shares of the social networking company's stock valued at $465,000 after buying an additional 17 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Meta Platforms Stock Performance

Shares of Meta Platforms stock traded up $24.13 during trading hours on Tuesday, hitting $790.00. 14,558,583 shares of the company were exchanged, compared to its average volume of 15,436,170. The business has a 50-day moving average of $716.43 and a 200-day moving average of $652.13. Meta Platforms, Inc. has a 1 year low of $479.80 and a 1 year high of $793.67. The stock has a market capitalization of $1.98 trillion, a price-to-earnings ratio of 28.60, a P/E/G ratio of 1.60 and a beta of 1.27. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.15.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The social networking company reported $7.14 earnings per share for the quarter, topping analysts' consensus estimates of $5.75 by $1.39. Meta Platforms had a return on equity of 39.33% and a net margin of 39.99%. The firm had revenue of $47.52 billion for the quarter, compared to analyst estimates of $44.55 billion. During the same quarter in the prior year, the company posted $5.16 earnings per share. Meta Platforms's quarterly revenue was up 21.6% on a year-over-year basis. As a group, analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms's dividend payout ratio is currently 7.60%.

Analyst Upgrades and Downgrades

META has been the subject of several recent research reports. Hsbc Global Res raised Meta Platforms from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 31st. Morgan Stanley lifted their target price on Meta Platforms from $750.00 to $850.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Scotiabank lifted their target price on Meta Platforms from $675.00 to $685.00 and gave the company a "sector perform" rating in a research report on Thursday, July 31st. JMP Securities lifted their target price on Meta Platforms from $750.00 to $900.00 and gave the company a "market outperform" rating in a research report on Thursday, July 31st. Finally, Benchmark lifted their target price on Meta Platforms from $800.00 to $890.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Four investment analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, Meta Platforms presently has an average rating of "Moderate Buy" and a consensus target price of $822.41.

Insider Buying and Selling

In other Meta Platforms news, insider Christopher K. Cox sold 60,000 shares of the company's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $775.95, for a total value of $46,557,000.00. Following the sale, the insider owned 237,205 shares of the company's stock, valued at approximately $184,059,219.75. This represents a 20.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 15,847 shares of the company's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $753.43, for a total value of $11,939,605.21. The disclosure for this sale can be found here. Insiders have sold 289,356 shares of company stock valued at $211,138,344 over the last quarter. Company insiders own 13.61% of the company's stock.

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.