State of Michigan Retirement System Acquires 67,900 Shares of Meta Platforms, Inc. (NASDAQ:META)

State of Michigan Retirement System raised its position in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 9.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 823,514 shares of the social networking company’s stock after acquiring an additional 67,900 shares during the period. Meta Platforms makes up approximately 1.7% of State of Michigan Retirement System’s investment portfolio, making the stock its 9th largest position. State of Michigan Retirement System’s holdings in Meta Platforms were worth $291,491,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Meta Platforms by 1.0% in the third quarter. Vanguard Group Inc. now owns 183,244,796 shares of the social networking company’s stock valued at $55,011,920,000 after buying an additional 1,733,182 shares during the period. FMR LLC lifted its stake in Meta Platforms by 4.0% during the third quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock worth $39,270,443,000 after purchasing an additional 5,001,647 shares during the last quarter. State Street Corp lifted its stake in Meta Platforms by 1.8% during the second quarter. State Street Corp now owns 88,542,953 shares of the social networking company’s stock worth $25,410,057,000 after purchasing an additional 1,548,671 shares during the last quarter. Morgan Stanley increased its holdings in shares of Meta Platforms by 3.4% during the third quarter. Morgan Stanley now owns 36,277,772 shares of the social networking company’s stock worth $10,890,950,000 after buying an additional 1,184,978 shares in the last quarter. Finally, Norges Bank acquired a new stake in Meta Platforms in the fourth quarter valued at $4,223,148,000. Institutional investors own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 97,093 shares of Meta Platforms stock in a transaction on Friday, February 9th. The shares were sold at an average price of $469.67, for a total transaction of $45,601,669.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Mark Zuckerberg sold 97,093 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $469.67, for a total transaction of $45,601,669.31. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Susan J. Li sold 10,956 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $473.28, for a total value of $5,185,255.68. Following the transaction, the chief financial officer now owns 76,398 shares in the company, valued at approximately $36,157,645.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,502,805 shares of company stock valued at $703,056,383. Insiders own 14.03% of the company’s stock.

Meta Platforms Stock Up 1.2 %

Shares of NASDAQ:META opened at $497.37 on Wednesday. The firm has a fifty day moving average price of $473.50 and a two-hundred day moving average price of $381.00. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.67 and a quick ratio of 2.67. Meta Platforms, Inc. has a one year low of $207.13 and a one year high of $523.57. The company has a market cap of $1.27 trillion, a price-to-earnings ratio of 33.38, a PEG ratio of 1.26 and a beta of 1.20.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its quarterly earnings results on Thursday, February 1st. The social networking company reported $5.33 EPS for the quarter, beating the consensus estimate of $4.82 by $0.51. Meta Platforms had a net margin of 28.98% and a return on equity of 29.48%. The firm had revenue of $40.11 billion during the quarter, compared to the consensus estimate of $39.12 billion. During the same period last year, the firm earned $3.00 EPS. The business’s quarterly revenue was up 24.7% compared to the same quarter last year. Analysts anticipate that Meta Platforms, Inc. will post 19.94 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend was Wednesday, February 21st. Meta Platforms’s dividend payout ratio is currently 13.42%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on META shares. Susquehanna increased their price objective on shares of Meta Platforms from $400.00 to $550.00 and gave the stock a “positive” rating in a research report on Friday, February 2nd. Sanford C. Bernstein increased their price objective on shares of Meta Platforms from $435.00 to $535.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Stifel Nicolaus increased their price objective on shares of Meta Platforms from $405.00 to $527.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Wedbush increased their price objective on shares of Meta Platforms from $420.00 to $520.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Finally, Guggenheim raised their price target on shares of Meta Platforms from $380.00 to $520.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirty-nine have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $496.35.

Get Our Latest Analysis on Meta Platforms

About Meta Platforms

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

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