Meta Platforms, Inc. (NASDAQ:META) is Mutual of America Capital Management LLC’s 6th Largest Position

Mutual of America Capital Management LLC lowered its position in Meta Platforms, Inc. (NASDAQ:META) by 1.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 257,872 shares of the social networking company’s stock after selling 4,918 shares during the period. Meta Platforms comprises about 1.7% of Mutual of America Capital Management LLC’s investment portfolio, making the stock its 6th biggest holding. Mutual of America Capital Management LLC’s holdings in Meta Platforms were worth $148,627,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of META. FDx Advisors Inc. grew its holdings in Meta Platforms by 3.1% during the first quarter. FDx Advisors Inc. now owns 3,336 shares of the social networking company’s stock valued at $1,923,000 after purchasing an additional 101 shares during the period. Platform Technology Partners grew its holdings in Meta Platforms by 1.4% during the first quarter. Platform Technology Partners now owns 9,617 shares of the social networking company’s stock valued at $5,543,000 after purchasing an additional 135 shares during the period. BankPlus Trust Department boosted its stake in shares of Meta Platforms by 18.6% in the first quarter. BankPlus Trust Department now owns 421 shares of the social networking company’s stock worth $243,000 after acquiring an additional 66 shares during the period. Arizona State Retirement System boosted its stake in shares of Meta Platforms by 1.2% in the first quarter. Arizona State Retirement System now owns 643,546 shares of the social networking company’s stock worth $370,914,000 after acquiring an additional 7,472 shares during the period. Finally, Realta Investment Advisors boosted its stake in shares of Meta Platforms by 7.3% in the first quarter. Realta Investment Advisors now owns 4,726 shares of the social networking company’s stock worth $2,724,000 after acquiring an additional 323 shares during the period. Institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

META has been the subject of a number of recent analyst reports. Stifel Nicolaus upped their price objective on Meta Platforms from $845.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. Needham & Company LLC raised Meta Platforms from an “underperform” rating to a “hold” rating in a research note on Thursday, July 3rd. Scotiabank increased their price target on Meta Platforms from $675.00 to $685.00 and gave the company a “sector perform” rating in a research note on Thursday, July 31st. Citigroup reissued an “outperform” rating on shares of Meta Platforms in a research note on Thursday, July 31st. Finally, Morgan Stanley upped their price objective on Meta Platforms from $750.00 to $850.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $822.41.

Meta Platforms Stock Performance

Shares of META stock opened at $769.30 on Monday. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.15. Meta Platforms, Inc. has a 52-week low of $479.80 and a 52-week high of $784.75. The business has a 50-day simple moving average of $714.53 and a 200-day simple moving average of $651.30. The stock has a market cap of $1.93 trillion, a PE ratio of 27.85, a price-to-earnings-growth ratio of 1.60 and a beta of 1.27.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, July 30th. The social networking company reported $7.14 earnings per share for the quarter, beating the consensus estimate of $5.75 by $1.39. Meta Platforms had a return on equity of 39.33% and a net margin of 39.99%. The firm had revenue of $47.52 billion during the quarter, compared to analyst estimates of $44.55 billion. During the same quarter in the previous year, the business earned $5.16 EPS. Meta Platforms’s revenue for the quarter was up 21.6% compared to the same quarter last year. On average, equities analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were issued a $0.525 dividend. The ex-dividend date was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. Meta Platforms’s dividend payout ratio is currently 7.60%.

Insider Activity at Meta Platforms

In other news, CEO Mark Zuckerberg sold 15,847 shares of the company’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $753.43, for a total transaction of $11,939,605.21. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Christopher K. Cox sold 60,000 shares of the company’s stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $775.95, for a total value of $46,557,000.00. Following the sale, the insider directly owned 237,205 shares in the company, valued at $184,059,219.75. This represents a 20.19% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 274,416 shares of company stock worth $199,599,359. Insiders own 13.61% of the company’s stock.

About Meta Platforms

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.