Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D boosted its stake in Meta Platforms, Inc. (NASDAQ:META) by 0.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 806,620 shares of the social networking company’s stock after buying an additional 868 shares during the period. Meta Platforms accounts for approximately 1.9% of State of New Jersey Common Pension Fund D’s investment portfolio, making the stock its 7th largest holding. State of New Jersey Common Pension Fund D’s holdings in Meta Platforms were worth $461,742,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Delos Wealth Advisors LLC boosted its position in Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after acquiring an additional 58 shares during the period. POM Investment Strategies LLC acquired a new position in shares of Meta Platforms during the second quarter valued at $38,000. Ruedi Wealth Management Inc. raised its stake in shares of Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 44 shares in the last quarter. Halpern Financial Inc. acquired a new stake in Meta Platforms in the third quarter worth about $46,000. Finally, J.Safra Asset Management Corp bought a new position in Meta Platforms in the 1st quarter valued at about $47,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Activity

In related news, insider Jennifer Newstead sold 901 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $567.70, for a total value of $511,497.70. Following the transaction, the insider now directly owns 30,581 shares in the company, valued at approximately $17,360,833.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, COO Javier Olivan sold 413 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $567.58, for a total transaction of $234,410.54. Following the completion of the transaction, the chief operating officer now owns 10,294 shares of the company’s stock, valued at approximately $5,842,668.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 901 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $567.70, for a total value of $511,497.70. Following the completion of the sale, the insider now directly owns 30,581 shares in the company, valued at $17,360,833.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 175,807 shares of company stock valued at $93,851,617 over the last 90 days. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Trading Down 0.8 %

Shares of NASDAQ:META opened at $580.00 on Thursday. Meta Platforms, Inc. has a 1 year low of $313.66 and a 1 year high of $602.95. The firm has a fifty day moving average price of $564.48 and a 200 day moving average price of $518.29. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $1.46 trillion, a PE ratio of 27.32, a P/E/G ratio of 1.29 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The company had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Analysts expect that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is 9.42%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on META shares. Evercore ISI boosted their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Hsbc Global Res upgraded Meta Platforms to a “hold” rating in a research report on Thursday, October 24th. Cantor Fitzgerald reiterated an “overweight” rating and set a $670.00 price target on shares of Meta Platforms in a research report on Wednesday, October 16th. Rosenblatt Securities restated a “buy” rating and issued a $811.00 price objective on shares of Meta Platforms in a report on Thursday, October 31st. Finally, Mizuho boosted their price target on shares of Meta Platforms from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus price target of $634.10.

Meta Platforms Company 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.