New Mexico Educational Retirement Board Boosts Holdings in Meta Platforms, Inc. (NASDAQ:META)

New Mexico Educational Retirement Board grew its holdings in Meta Platforms, Inc. (NASDAQ:META) by 16.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 134,250 shares of the social networking company’s stock after purchasing an additional 19,100 shares during the period. Meta Platforms makes up about 2.3% of New Mexico Educational Retirement Board’s holdings, making the stock its 4th biggest position. New Mexico Educational Retirement Board’s holdings in Meta Platforms were worth $65,189,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of META. Ameriprise Financial Inc. lifted its stake in Meta Platforms by 7.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 8,314,722 shares of the social networking company’s stock worth $2,496,450,000 after purchasing an additional 592,085 shares in the last quarter. Alps Advisors Inc. lifted its stake in Meta Platforms by 69.9% in the 3rd quarter. Alps Advisors Inc. now owns 26,817 shares of the social networking company’s stock worth $8,051,000 after purchasing an additional 11,033 shares in the last quarter. Alerus Financial NA lifted its stake in Meta Platforms by 503.5% in the 3rd quarter. Alerus Financial NA now owns 22,920 shares of the social networking company’s stock worth $6,881,000 after purchasing an additional 19,122 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in Meta Platforms by 0.3% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 2,211,935 shares of the social networking company’s stock worth $664,045,000 after purchasing an additional 6,300 shares in the last quarter. Finally, Evergreen Capital Management LLC lifted its stake in Meta Platforms by 0.4% in the 3rd quarter. Evergreen Capital Management LLC now owns 28,577 shares of the social networking company’s stock worth $8,579,000 after purchasing an additional 125 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Down 3.0 %

NASDAQ:META opened at $504.22 on Monday. Meta Platforms, Inc. has a 12 month low of $274.38 and a 12 month high of $531.49. The stock has a market cap of $1.28 trillion, a price-to-earnings ratio of 28.96, a P/E/G ratio of 1.31 and a beta of 1.21. The company has a 50-day moving average price of $480.00 and a 200-day moving average price of $455.62. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The company had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. Equities analysts predict that Meta Platforms, Inc. will post 20.16 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a yield of 0.40%. Meta Platforms’s dividend payout ratio (DPR) is currently 11.49%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on META shares. Barclays lowered their target price on shares of Meta Platforms from $550.00 to $520.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. BMO Capital Markets reissued a “market perform” rating and issued a $450.00 price target on shares of Meta Platforms in a report on Wednesday, June 12th. JPMorgan Chase & Co. decreased their price target on shares of Meta Platforms from $535.00 to $480.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Roth Mkm increased their price target on shares of Meta Platforms from $500.00 to $510.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Finally, The Goldman Sachs Group decreased their price target on shares of Meta Platforms from $555.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $510.05.

Insider Activity at Meta Platforms

In related news, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $485.00, for a total transaction of $283,725.00. Following the completion of the transaction, the insider now directly owns 38,983 shares of the company’s stock, valued at approximately $18,906,755. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $485.00, for a total value of $283,725.00. Following the completion of the transaction, the insider now directly owns 38,983 shares of the company’s stock, valued at $18,906,755. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $510.88, for a total transaction of $8,532,717.76. Following the completion of the transaction, the chief executive officer now directly owns 230,461 shares of the company’s stock, valued at $117,737,915.68. The disclosure for this sale can be found here. Insiders sold a total of 201,557 shares of company stock valued at $97,894,296 in the last three months. Company insiders own 13.71% of the company’s stock.

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.