VIRGINIA RETIREMENT SYSTEMS ET Al Has $434.98 Million Stake in Meta Platforms, Inc. $META

VIRGINIA RETIREMENT SYSTEMS ET Al lifted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 16.5% during the 4th quarter, HoldingsChannel reports. The fund owned 658,974 shares of the social networking company’s stock after acquiring an additional 93,178 shares during the quarter. Meta Platforms accounts for approximately 2.6% of VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings, making the stock its 6th largest position. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Meta Platforms were worth $434,982,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Westchester Capital Management Inc. bought a new position in shares of Meta Platforms during the third quarter worth approximately $26,000. Strategic Wealth Advisors LLC bought a new position in shares of Meta Platforms during the fourth quarter worth approximately $29,000. Key Capital Management INC bought a new position in shares of Meta Platforms during the fourth quarter worth approximately $48,000. Fairway Wealth LLC increased its holdings in shares of Meta Platforms by 36.8% during the fourth quarter. Fairway Wealth LLC now owns 78 shares of the social networking company’s stock worth $51,000 after purchasing an additional 21 shares during the period. Finally, Merrithew & Thorsten Inc bought a new position in shares of Meta Platforms during the fourth quarter worth approximately $52,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

More Meta Platforms News

Here are the key news stories impacting Meta Platforms this week:

• Positive Sentiment: Meta settled the first U.S. school-district case tied to youth mental health and social media addiction, reducing the risk of an immediate trial and showing some willingness to resolve major litigation. Reuters: Meta settles first US case over school costs tied to youth mental health
• Positive Sentiment: Analysts continue to argue that Meta’s heavy AI investment could support future growth and profitability, with one bullish note calling the stock undervalued relative to its AI opportunity. Seeking Alpha: Meta Platforms: A Call Option On The AI Race
• Neutral Sentiment: Zuckerberg said he does not expect more companywide layoffs this year, but the cuts themselves and the reassignment of workers into AI roles suggest a continued restructuring rather than a clear earnings boost. Reuters: Meta CEO tells employees he does not expect more company-wide layoffs this year
• Negative Sentiment: Texas sued Meta and WhatsApp over alleged privacy and encryption misrepresentations, increasing regulatory and legal risk for META. Reuters: Texas sues Meta, WhatsApp over encryption privacy claims
• Negative Sentiment: Investor focus remains on Meta’s large AI capex and the limited financial impact of layoffs, keeping pressure on the stock as markets question whether spending will translate into stronger returns soon. MarketBeat: Meta Platforms 10% Layoff Raises a Bigger Question About AI Spending

Insider Activity

In other news, CFO Susan J. Li sold 9,195 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $607.84, for a total value of $5,589,088.80. Following the sale, the chief financial officer directly owned 13,186 shares in the company, valued at approximately $8,014,978.24. This trade represents a 41.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Javier Olivan sold 837 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $609.35, for a total transaction of $510,025.95. Following the completion of the sale, the chief operating officer owned 14,660 shares in the company, valued at approximately $8,933,071. The trade was a 5.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 152,728 shares of company stock worth $96,925,217. Corporate insiders own 13.53% of the company’s stock.

Meta Platforms Trading Up 0.4%

Shares of Meta Platforms stock opened at $607.38 on Friday. The company has a market capitalization of $1.54 trillion, a price-to-earnings ratio of 22.08, a PEG ratio of 1.07 and a beta of 1.25. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.24. Meta Platforms, Inc. has a 12-month low of $520.26 and a 12-month high of $796.25. The firm’s 50-day moving average price is $618.57 and its two-hundred day moving average price is $637.18.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, April 29th. The social networking company reported $10.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.67 by $3.77. The firm had revenue of $56.31 billion for the quarter, compared to the consensus estimate of $55.56 billion. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. The business’s revenue for the quarter was up 33.1% on a year-over-year basis. During the same period in the prior year, the company posted $6.43 earnings per share. On average, analysts forecast that Meta Platforms, Inc. will post 29.49 earnings per share for the current fiscal year.

Analyst Ratings Changes

META has been the topic of several recent research reports. Rothschild & Co Redburn set a $900.00 target price on shares of Meta Platforms in a report on Monday, January 26th. Citigroup reaffirmed an “outperform” rating on shares of Meta Platforms in a report on Thursday, January 29th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $725.00 target price (down from $825.00) on shares of Meta Platforms in a report on Thursday, April 30th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $810.00 target price on shares of Meta Platforms in a report on Thursday, April 30th. Finally, Robert W. Baird increased their price objective on shares of Meta Platforms from $815.00 to $830.00 and gave the stock an “outperform” rating in a research note on Thursday, January 29th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $840.19.

Meta Platforms Profile

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.