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Teacher Retirement System of Texas Sells 131,969 Shares of Meta Platforms, Inc. (NASDAQ:META)

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Teacher Retirement System of Texas trimmed its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 15.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 731,642 shares of the social networking company's stock after selling 131,969 shares during the period. Meta Platforms makes up about 1.8% of Teacher Retirement System of Texas' investment portfolio, making the stock its 6th biggest position. Teacher Retirement System of Texas' holdings in Meta Platforms were worth $421,689,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of META. First Horizon Advisors Inc. raised its stake in shares of Meta Platforms by 0.9% during the first quarter. First Horizon Advisors Inc. now owns 37,284 shares of the social networking company's stock worth $21,490,000 after buying an additional 344 shares during the last quarter. Revisor Wealth Management LLC raised its stake in shares of Meta Platforms by 22.2% during the first quarter. Revisor Wealth Management LLC now owns 2,711 shares of the social networking company's stock worth $1,562,000 after buying an additional 492 shares during the last quarter. Baskin Financial Services Inc. raised its stake in shares of Meta Platforms by 10.2% during the first quarter. Baskin Financial Services Inc. now owns 36,450 shares of the social networking company's stock worth $21,008,000 after buying an additional 3,379 shares during the last quarter. FSR Wealth Management Ltd. raised its stake in shares of Meta Platforms by 3.9% during the first quarter. FSR Wealth Management Ltd. now owns 3,015 shares of the social networking company's stock worth $1,738,000 after buying an additional 114 shares during the last quarter. Finally, Weaver Consulting Group raised its stake in shares of Meta Platforms by 3.2% during the first quarter. Weaver Consulting Group now owns 2,336 shares of the social networking company's stock worth $1,346,000 after buying an additional 72 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, COO Javier Olivan sold 517 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $740.97, for a total value of $383,081.49. Following the sale, the chief operating officer directly owned 7,853 shares in the company, valued at approximately $5,818,837.41. This trade represents a 6.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 2,361 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $716.48, for a total transaction of $1,691,609.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 153,677 shares of company stock worth $105,221,340. Corporate insiders own 13.61% of the company's stock.

Meta Platforms Price Performance

Shares of META opened at $716.91 on Monday. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $747.90. The firm has a market capitalization of $1.80 trillion, a PE ratio of 27.96, a PEG ratio of 1.76 and a beta of 1.28. The company's 50-day moving average is $658.89 and its 200-day moving average is $630.28. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly 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. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The business had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same period last year, the firm earned $4.71 earnings per share. Meta Platforms's revenue for the quarter was up 16.1% compared to the same quarter last year. Equities analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms's dividend payout ratio is currently 8.19%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on META. Truist Financial boosted their price target on shares of Meta Platforms from $700.00 to $720.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Oppenheimer upped their target price on shares of Meta Platforms from $665.00 to $775.00 and gave the company an "outperform" rating in a research note on Monday, June 16th. Piper Sandler reaffirmed an "overweight" rating and issued a $808.00 target price (up previously from $650.00) on shares of Meta Platforms in a research note on Friday, June 27th. UBS Group reaffirmed a "buy" rating and issued a $812.00 target price (up previously from $683.00) on shares of Meta Platforms in a research note on Thursday, June 26th. Finally, Needham & Company LLC raised shares of Meta Platforms from an "underperform" rating to a "hold" rating in a research report on Thursday. Five investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $719.29.

Check Out Our Latest Analysis on META

Meta Platforms 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.

Further Reading

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:META - Free Report).

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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