Employees Retirement System of Texas lessened its position in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 9.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 389,372 shares of the social networking company’s stock after selling 41,379 shares during the period. Meta Platforms comprises about 2.1% of Employees Retirement System of Texas’ portfolio, making the stock its 9th largest holding. Employees Retirement System of Texas’ holdings in Meta Platforms were worth $257,021,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC lifted its stake in shares of Meta Platforms by 1.7% during the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock worth $20,230,000 after buying an additional 570 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of Meta Platforms by 10.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company’s stock worth $5,537,000 after buying an additional 875 shares during the last quarter. Headwater Capital Co Ltd lifted its stake in shares of Meta Platforms by 294.7% during the 1st quarter. Headwater Capital Co Ltd now owns 150,000 shares of the social networking company’s stock worth $86,454,000 after buying an additional 112,000 shares during the last quarter. Dymon Asia Capital Singapore PTE. LTD. acquired a new stake in shares of Meta Platforms during the 2nd quarter worth about $213,000. Finally, Capital & Planning LLC acquired a new stake in shares of Meta Platforms during the 2nd quarter worth about $322,000. Institutional investors own 79.91% of the company’s stock.
Meta Platforms Price Performance
Shares of Meta Platforms stock opened at $593.00 on Friday. Meta Platforms, Inc. has a twelve month low of $520.26 and a twelve month high of $796.25. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.24. The company has a 50-day simple moving average of $618.83 and a two-hundred day simple moving average of $636.57. The stock has a market capitalization of $1.50 trillion, a price-to-earnings ratio of 21.56, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23.
Meta Platforms Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Monday, June 15th will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, June 15th. Meta Platforms’s dividend payout ratio (DPR) is currently 7.63%.
Insider Activity
In other Meta Platforms news, CTO Andrew Bosworth sold 7,847 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $607.83, for a total value of $4,769,642.01. Following the transaction, the chief technology officer directly owned 414 shares of the company’s stock, valued at $251,641.62. This trade represents a 94.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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, CFO Susan J. Li sold 9,195 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $607.84, for a total transaction of $5,589,088.80. Following the completion of the transaction, the chief financial officer directly owned 13,186 shares in the company, valued at approximately $8,014,978.24. This represents a 41.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Insiders sold 42,860 shares of company stock valued at $26,555,260 in the last 90 days. 13.53% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
A number of research firms have recently issued reports on META. Wedbush upgraded shares of Meta Platforms from an “outperform” rating to a “neutral” rating in a research note on Tuesday. Piper Sandler began coverage on shares of Meta Platforms in a research note on Tuesday. They set an “overweight” rating for the company. Barclays raised their target price on shares of Meta Platforms from $800.00 to $830.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Morgan Stanley cut their target price on shares of Meta Platforms from $825.00 to $775.00 and set an “overweight” rating for the company in a research note on Monday, March 30th. Finally, UBS Group cut shares of Meta Platforms from a “buy” rating to a “neutral” rating in a research note on Tuesday. Three research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and a consensus target price of $840.60.
Read Our Latest Research Report on Meta Platforms
Meta Platforms News Roundup
Here are the key news stories impacting Meta Platforms this week:
- Negative Sentiment: Meta is reportedly weighing a large stock sale to fund AI infrastructure, sparking dilution concerns and pressuring the shares. Article: Meta weighs big equity raising after blockbuster Google deal
- Negative Sentiment: Meta’s AI rollout has faced another delay, with the Muse Spark developer API still lacking a launch date, raising questions about when the company can monetize its AI investments. Article: Meta repeatedly pushes back new AI model release for developers
- Negative Sentiment: Privacy concerns resurfaced after reports that Meta smart glasses could use facial-recognition-style “faceprint” tracking, which could invite regulatory scrutiny and consumer backlash. Article: Code Reveals Meta Smart Glasses Can Use ‘Faceprint’ Tracking, Raising Privacy Alarms
- Negative Sentiment: Meta is also battling renewed policy and legal pressure in Australia over proposed payments for news, adding another regulatory overhang. Article: Meta accuses Australia of breaching FTA, invokes US ‘trade action’
- Neutral Sentiment: Meta continues to receive bullish long-term commentary from some analysts and investors who view it as a major AI and advertising platform, but that optimism is being overshadowed today by funding and execution concerns. Article: Analyst Sees Multi-Billion Dollar Potential In Meta Platforms’ Subscription Model
Meta Platforms Company 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.
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