Meta Platforms, Inc. $META Shares Sold by Texas Permanent School Fund Corp

by · The Cerbat Gem

Texas Permanent School Fund Corp lowered its position in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 34.1% in the second quarter, HoldingsChannel.com reports. The fund owned 166,672 shares of the social networking company’s stock after selling 86,241 shares during the quarter. Meta Platforms comprises 1.3% of Texas Permanent School Fund Corp’s portfolio, making the stock its 8th biggest position. Texas Permanent School Fund Corp’s holdings in Meta Platforms were worth $123,019,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the business. Bare Financial Services Inc bought a new stake in shares of Meta Platforms during the second quarter worth $30,000. Evergreen Private Wealth LLC lifted its position in Meta Platforms by 237.5% during the 2nd quarter. Evergreen Private Wealth LLC now owns 54 shares of the social networking company’s stock worth $40,000 after buying an additional 38 shares in the last quarter. Briaud Financial Planning Inc bought a new stake in Meta Platforms during the 2nd quarter worth about $42,000. Knuff & Co LLC acquired a new stake in Meta Platforms in the 2nd quarter valued at about $44,000. Finally, WFA Asset Management Corp raised its stake in shares of Meta Platforms by 42.6% in the second quarter. WFA Asset Management Corp now owns 67 shares of the social networking company’s stock worth $49,000 after acquiring an additional 20 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Insider Activity

In other news, COO Javier Olivan sold 517 shares of the business’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $669.63, for a total value of $346,198.71. Following the completion of the transaction, the chief operating officer owned 13,751 shares of the company’s stock, valued at $9,208,082.13. The trade was a 3.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jennifer Newstead sold 519 shares of the firm’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $664.16, for a total value of $344,699.04. Following the sale, the insider directly owned 30,215 shares in the company, valued at $20,067,594.40. The trade was a 1.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 40,458 shares of company stock worth $25,436,200 over the last three months. Company insiders own 13.61% of the company’s stock.

Meta Platforms Trading Up 0.5%

NASDAQ META opened at $647.51 on Tuesday. Meta Platforms, Inc. has a 12 month low of $479.80 and a 12 month high of $796.25. The stock has a 50-day simple moving average of $664.55 and a 200 day simple moving average of $707.70. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $1.63 trillion, a PE ratio of 28.60, a P/E/G ratio of 1.35 and a beta of 1.28.

Meta Platforms (NASDAQ:META – Get Free Report) last issued its earnings results on Wednesday, October 29th. The social networking company reported $7.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.74 by $0.51. The firm had revenue of $51.24 billion for the quarter, compared to analysts’ expectations of $49.34 billion. Meta Platforms had a return on equity of 39.35% and a net margin of 30.89%.The company’s revenue was up 26.2% compared to the same quarter last year. During the same quarter last year, the business earned $6.03 earnings per share. Research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Monday, December 15th will be issued a dividend of $0.525 per share. The ex-dividend date is Monday, December 15th. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. Meta Platforms’s payout ratio is currently 9.28%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Cantor Fitzgerald decreased their price target on shares of Meta Platforms from $830.00 to $720.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 19th. Truist Financial lowered their target price on Meta Platforms from $900.00 to $875.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. Roth Capital restated a “buy” rating on shares of Meta Platforms in a research report on Thursday, October 30th. Jefferies Financial Group decreased their price target on Meta Platforms from $950.00 to $910.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. Finally, Stifel Nicolaus lowered their price objective on Meta Platforms from $900.00 to $875.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $819.46.

View Our Latest Report on Meta Platforms

Meta Platforms Profile

(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.

Further Reading

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