Meta Platforms, Inc. (NASDAQ:META) is Supplemental Annuity Collective Trust of NJ’s 6th Largest Position

Supplemental Annuity Collective Trust of NJ lowered its position in Meta Platforms, Inc. (NASDAQ:META) by 10.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 18,200 shares of the social networking company’s stock after selling 2,100 shares during the period. Meta Platforms comprises approximately 2.2% of Supplemental Annuity Collective Trust of NJ’s holdings, making the stock its 6th largest position. Supplemental Annuity Collective Trust of NJ’s holdings in Meta Platforms were worth $6,442,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Stone House Investment Management LLC boosted its position in shares of Meta Platforms by 625.0% during the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after acquiring an additional 75 shares during the last quarter. Beaird Harris Wealth Management LLC increased its holdings in shares of Meta Platforms by 68.9% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after buying an additional 42 shares during the last quarter. PayPay Securities Corp increased its holdings in shares of Meta Platforms by 65.2% in the 3rd quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock worth $33,000 after buying an additional 43 shares during the last quarter. Cranbrook Wealth Management LLC grew its position in Meta Platforms by 80.4% in the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after acquiring an additional 45 shares in the last quarter. Finally, Gilfoyle & Co LLC purchased a new position in Meta Platforms in the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on META shares. KeyCorp cut their target price on Meta Platforms from $575.00 to $555.00 and set an “overweight” rating on the stock in a research report on Monday. The Goldman Sachs Group reduced their target price on shares of Meta Platforms from $555.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday. Oppenheimer reduced their price objective on shares of Meta Platforms from $585.00 to $500.00 and set an “outperform” rating on the stock in a research report on Thursday. UBS Group dropped their target price on Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Truist Financial reduced their price target on Meta Platforms from $550.00 to $535.00 and set a “buy” rating on the stock in a report on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus target price of $509.18.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 97,093 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $469.67, for a total value of $45,601,669.31. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Susan J. Li sold 10,956 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $473.28, for a total transaction of $5,185,255.68. Following the sale, the chief financial officer now owns 76,398 shares of the company’s stock, valued at approximately $36,157,645.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 97,093 shares of Meta Platforms stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders have sold 1,349,148 shares of company stock worth $649,552,559 over the last 90 days. 13.75% of the stock is currently owned by company insiders.

Meta Platforms Stock Performance

META stock traded up $1.91 during midday trading on Friday, reaching $443.29. The stock had a trading volume of 32,645,619 shares, compared to its average volume of 18,391,986. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.67 and a current ratio of 2.67. The firm has a fifty day simple moving average of $495.08 and a two-hundred day simple moving average of $403.40. The stock has a market cap of $1.13 trillion, a PE ratio of 25.21, a P/E/G ratio of 1.26 and a beta of 1.20. Meta Platforms, Inc. has a 52-week low of $229.85 and a 52-week high of $531.49.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a return on equity of 32.37% and a net margin of 32.06%. The firm had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. As a group, equities research analysts anticipate that Meta Platforms, Inc. will post 20.18 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.45%. The ex-dividend date was Wednesday, February 21st. Meta Platforms’s dividend payout ratio (DPR) is currently 11.49%.

Meta Platforms Profile

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.