Public Employees Retirement System of Ohio Has $574.38 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Public Employees Retirement System of Ohio lowered its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 4.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 980,982 shares of the social networking company's stock after selling 48,947 shares during the quarter. Meta Platforms makes up approximately 2.0% of Public Employees Retirement System of Ohio's investment portfolio, making the stock its 6th largest position. Public Employees Retirement System of Ohio's holdings in Meta Platforms were worth $574,375,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Millstone Evans Group LLC bought a new position in shares of Meta Platforms in the fourth quarter worth about $40,000. WealthTrak Capital Management LLC bought a new position in Meta Platforms in the 4th quarter valued at approximately $43,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in Meta Platforms in the 4th quarter valued at approximately $45,000. Stuart Chaussee & Associates Inc. bought a new position in Meta Platforms in the 4th quarter valued at approximately $47,000. Finally, Conquis Financial LLC bought a new position in Meta Platforms in the 4th quarter valued at approximately $59,000. Institutional investors own 79.91% of the company's stock.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 519 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $635.50, for a total value of $329,824.50. Following the sale, the insider now owns 30,740 shares of the company's stock, valued at $19,535,270. This trade represents a 1.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Christopher K. Cox sold 20,000 shares of the business's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $677.71, for a total value of $13,554,200.00. Following the transaction, the insider now directly owns 308,686 shares of the company's stock, valued at $209,199,589.06. The trade was a 6.08% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 75,628 shares of company stock valued at $48,380,586. Company insiders own 13.71% of the company's stock.

Meta Platforms Stock Performance

Shares of Meta Platforms stock traded up $14.06 during trading hours on Tuesday, reaching $641.12. The company had a trading volume of 4,501,037 shares, compared to its average volume of 14,456,777. The firm has a market cap of $1.61 trillion, a PE ratio of 26.82, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The business has a fifty day simple moving average of $575.66 and a 200 day simple moving average of $609.55.

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 the consensus estimate of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The business had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter last year, the company earned $4.71 EPS. The firm's revenue was up 16.1% compared to the same quarter last year. On average, analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on META shares. Loop Capital raised their price objective on shares of Meta Platforms from $695.00 to $888.00 and gave the company a "buy" rating in a report on Friday, May 16th. Wells Fargo & Company dropped their price objective on shares of Meta Platforms from $752.00 to $664.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Scotiabank dropped their price objective on shares of Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating for the company in a report on Monday, April 21st. JMP Securities reiterated a "market outperform" rating and issued a $750.00 price objective on shares of Meta Platforms in a report on Wednesday, April 30th. Finally, The Goldman Sachs Group increased their target price on shares of Meta Platforms from $685.00 to $690.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $701.05.

About Meta Platforms

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.