New York State Common Retirement Fund trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 5.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,781,131 shares of the social networking company's stock after selling 168,194 shares during the period. Meta Platforms makes up 2.4% of New York State Common Retirement Fund's portfolio, making the stock its 5th biggest holding. New York State Common Retirement Fund owned approximately 0.11% of Meta Platforms worth $1,602,933,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the company. FDx Advisors Inc. lifted its stake in shares of Meta Platforms by 3.1% in the first quarter. FDx Advisors Inc. now owns 3,336 shares of the social networking company's stock valued at $1,923,000 after buying an additional 101 shares during the period. Platform Technology Partners lifted its stake in shares of Meta Platforms by 1.4% in the first quarter. Platform Technology Partners now owns 9,617 shares of the social networking company's stock valued at $5,543,000 after buying an additional 135 shares during the period. BankPlus Trust Department lifted its stake in shares of Meta Platforms by 18.6% in the first quarter. BankPlus Trust Department now owns 421 shares of the social networking company's stock valued at $243,000 after buying an additional 66 shares during the period. Arizona State Retirement System lifted its stake in shares of Meta Platforms by 1.2% in the first quarter. Arizona State Retirement System now owns 643,546 shares of the social networking company's stock valued at $370,914,000 after buying an additional 7,472 shares during the period. Finally, Realta Investment Advisors lifted its stake in shares of Meta Platforms by 7.3% in the first quarter. Realta Investment Advisors now owns 4,726 shares of the social networking company's stock valued at $2,724,000 after buying an additional 323 shares during the period. 79.91% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several analysts have recently weighed in on META shares. KeyCorp raised their price objective on shares of Meta Platforms from $655.00 to $800.00 and gave the stock an "overweight" rating in a report on Thursday. Guggenheim raised their price target on shares of Meta Platforms from $675.00 to $725.00 and gave the company a "buy" rating in a report on Thursday, May 1st. TD Securities lowered their price target on shares of Meta Platforms from $725.00 to $700.00 and set a "buy" rating for the company in a report on Thursday, May 1st. JMP Securities reissued a "market outperform" rating and issued a $750.00 price target on shares of Meta Platforms in a report on Wednesday, April 30th. Finally, Barclays lowered their price target on shares of Meta Platforms from $705.00 to $640.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Five research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $736.05.
Read Our Latest Report on Meta Platforms
Insiders Place Their Bets
In other Meta Platforms news, CEO Mark Zuckerberg sold 13,793 shares of Meta Platforms stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $701.13, for a total value of $9,670,686.09. Following the completion of the transaction, the chief executive officer directly owned 118,279 shares of the company's stock, valued at approximately $82,928,955.27. The trade was a 10.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Andrew Bosworth sold 22,449 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the transaction, the chief technology officer directly owned 1,183 shares of the company's stock, valued at $753,393.55. The trade was a 94.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 153,764 shares of company stock valued at $105,721,208. Insiders own 13.61% of the company's stock.
Meta Platforms Price Performance
NASDAQ META traded up $2.87 on Friday, hitting $704.28. The stock had a trading volume of 12,743,944 shares, compared to its average volume of 14,339,401. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $747.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. The company has a market capitalization of $1.77 trillion, a price-to-earnings ratio of 27.47, a price-to-earnings-growth ratio of 1.72 and a beta of 1.28. The firm has a 50-day moving average of $686.09 and a 200-day moving average of $637.97.
Meta Platforms (NASDAQ:META - Get Free Report) last issued its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. The company had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The firm's revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the company earned $4.71 EPS. Equities analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.
Meta Platforms Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were given a dividend of $0.525 per share. The ex-dividend date was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.30%. Meta Platforms's dividend payout ratio (DPR) is currently 8.19%.
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.
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