Meta Platforms, Inc. $META is Oregon Public Employees Retirement Fund’s 10th Largest Position

Oregon Public Employees Retirement Fund raised its position in Meta Platforms, Inc. (NASDAQ:META) by 7.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 270,039 shares of the social networking company’s stock after purchasing an additional 19,643 shares during the period. Meta Platforms accounts for 1.6% of Oregon Public Employees Retirement Fund’s investment portfolio, making the stock its 10th largest holding. Oregon Public Employees Retirement Fund’s holdings in Meta Platforms were worth $152,110,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of META. First National Bank Sioux Falls increased its holdings in Meta Platforms by 0.7% in the fourth quarter. First National Bank Sioux Falls now owns 2,001 shares of the social networking company’s stock valued at $1,321,000 after buying an additional 14 shares during the last quarter. Levin Capital Strategies L.P. lifted its holdings in Meta Platforms by 1.4% during the 4th quarter. Levin Capital Strategies L.P. now owns 984 shares of the social networking company’s stock worth $649,000 after buying an additional 14 shares during the last quarter. Vista Capital Partners Inc. lifted its holdings in Meta Platforms by 1.3% during the 2nd quarter. Vista Capital Partners Inc. now owns 1,075 shares of the social networking company’s stock worth $794,000 after buying an additional 14 shares during the last quarter. Arcataur Capital Management LLC boosted its position in shares of Meta Platforms by 0.9% during the 4th quarter. Arcataur Capital Management LLC now owns 1,736 shares of the social networking company’s stock worth $1,146,000 after acquiring an additional 15 shares in the last quarter. Finally, Acorn Creek Capital LLC boosted its position in shares of Meta Platforms by 0.7% during the 4th quarter. Acorn Creek Capital LLC now owns 2,118 shares of the social networking company’s stock worth $1,398,000 after acquiring an additional 15 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

META has been the topic of several research analyst reports. Wells Fargo & Company cut their target price on Meta Platforms from $835.00 to $640.00 and set an “overweight” rating on the stock in a research report on Thursday, July 30th. DA Davidson lowered their price target on Meta Platforms from $850.00 to $700.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Susquehanna dropped their price target on shares of Meta Platforms from $900.00 to $650.00 and set a “positive” rating on the stock in a research note on Thursday, July 30th. Truist Financial cut their price objective on shares of Meta Platforms from $840.00 to $770.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Finally, Rosenblatt Securities reduced their price objective on shares of Meta Platforms from $1,015.00 to $883.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Four analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $785.32.

Meta Platforms Trading Up 2.0%

NASDAQ:META opened at $570.05 on Wednesday. The company has a market capitalization of $1.45 trillion, a PE ratio of 21.47, a P/E/G ratio of 0.95 and a beta of 1.25. Meta Platforms, Inc. has a 52-week low of $520.26 and a 52-week high of $790.80. The stock’s 50 day moving average price is $592.21 and its 200 day moving average price is $613.14. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.32.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, July 29th. The social networking company reported $6.18 EPS for the quarter, missing analysts’ consensus estimates of $7.19 by ($1.01). Meta Platforms had a net margin of 29.83% and a return on equity of 33.18%. The business had revenue of $60.80 billion during the quarter, compared to analyst estimates of $60.22 billion. During the same period in the previous year, the firm earned $7.14 earnings per share. The business’s revenue was up 28.0% compared to the same quarter last year. On average, research analysts anticipate that Meta Platforms, Inc. will post 28.5 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Monday, June 15th were paid a $0.525 dividend. The ex-dividend date was Monday, June 15th. This represents a $2.10 dividend on an annualized basis and a yield of 0.4%. Meta Platforms’s payout ratio is currently 7.91%.

Key Headlines Impacting Meta Platforms

Here are the key news stories impacting Meta Platforms this week:

• Positive Sentiment: Meta is reportedly preparing to launch Hatch, a consumer AI agent that could let users browse Reddit, order from DoorDash, shop on Etsy, access Yelp and manage Outlook within Meta’s ecosystem. The product could increase engagement with Meta’s platforms and strengthen its position in consumer AI. Reddit Stock Is Up, What You Need to Know
• Positive Sentiment: Analysts continue to point to accelerating advertising growth, AI-powered ad tools, rising user engagement and increased advertiser adoption as factors helping Meta outperform social-media rivals Reddit and Snap. META Rides on Ad Growth
• Positive Sentiment: Former OpenAI researcher Luke Metz has joined Meta’s Superintelligence Labs and will report to AI chief Alexandr Wang. The hire supports Meta’s effort to build advanced AI capabilities, although the financial benefits are longer term. Luke Metz Joins Meta’s Superintelligence Labs
• Neutral Sentiment: Reports highlighted substantial Meta insider-trading activity during August, including notable transactions on August 18. The article did not establish whether the activity represented buying or selling, limiting its immediate stock-price significance. Monster Insider Trading Alert for Meta Stock
• Negative Sentiment: Instagram chief Adam Mosseri is testifying in a lawsuit brought by 29 states alleging that Meta designed Instagram and Facebook to be addictive to children while downplaying safety risks. An adverse outcome could create regulatory, redesign and financial costs. Instagram Head Adam Mosseri to Testify at Meta Trial

Insiders Place Their Bets

In other news, CTO Andrew Bosworth sold 7,848 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $558.00, for a total transaction of $4,379,184.00. Following the completion of the sale, the chief technology officer owned 828 shares in the company, valued at approximately $462,024. This represents a 90.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert M. Kimmitt sold 500 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $561.56, for a total value of $280,780.00. Following the transaction, the director directly owned 2,943 shares in the company, valued at approximately $1,652,671.08. This represents a 14.52% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 34,957 shares of company stock valued at $20,442,696. 13.53% of the stock is owned by insiders.

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.