Mutual of America Capital Management LLC Has $139.35 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Mutual of America Capital Management LLC trimmed its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 4.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 276,359 shares of the social networking company’s stock after selling 12,090 shares during the period. Meta Platforms comprises about 1.5% of Mutual of America Capital Management LLC’s holdings, making the stock its 6th biggest holding. Mutual of America Capital Management LLC’s holdings in Meta Platforms were worth $139,346,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of META. Vanguard Group Inc. raised its position in Meta Platforms by 0.4% during the first quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock valued at $90,891,055,000 after buying an additional 831,047 shares during the period. Capital World Investors boosted its position in Meta Platforms by 0.6% during the 1st quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock worth $18,597,382,000 after acquiring an additional 244,803 shares during the period. Capital International Investors grew its stake in Meta Platforms by 3.2% during the 4th quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock valued at $12,296,383,000 after acquiring an additional 1,083,719 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of Meta Platforms by 14.5% in the 1st quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock valued at $16,799,612,000 after purchasing an additional 4,379,826 shares during the period. Finally, Sanders Capital LLC lifted its position in shares of Meta Platforms by 2.4% in the fourth quarter. Sanders Capital LLC now owns 14,569,705 shares of the social networking company’s stock worth $5,157,093,000 after purchasing an additional 344,384 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 9,760 shares of the business’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $502.87, for a total transaction of $4,908,011.20. Following the completion of the sale, the chief executive officer now owns 247,915 shares in the company, valued at $124,669,016.05. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $537.72, for a total transaction of $486,636.60. Following the completion of the sale, the insider now owns 36,912 shares of the company’s stock, valued at approximately $19,848,320.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 9,760 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $502.87, for a total transaction of $4,908,011.20. Following the sale, the chief executive officer now owns 247,915 shares of the company’s stock, valued at approximately $124,669,016.05. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 356,426 shares of company stock worth $185,053,425. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

Shares of NASDAQ:META opened at $559.10 on Friday. The business has a fifty day moving average of $505.40 and a 200-day moving average of $496.34. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. Meta Platforms, Inc. has a twelve month low of $279.40 and a twelve month high of $562.07. The firm has a market cap of $1.42 trillion, a PE ratio of 32.11, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. During the same quarter last year, the company posted $3.23 EPS. The company’s quarterly revenue was up 22.1% compared to the same quarter last year. On average, equities research analysts predict that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Monday, September 16th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.36%. The ex-dividend date is Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Wall Street Analyst Weigh In

META has been the subject of a number of research reports. Oppenheimer lifted their price objective on Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Piper Sandler boosted their price target on Meta Platforms from $545.00 to $575.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Royal Bank of Canada restated an “outperform” rating and issued a $570.00 price objective on shares of Meta Platforms in a report on Thursday, August 1st. Robert W. Baird lifted their target price on shares of Meta Platforms from $500.00 to $530.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Finally, TD Cowen increased their price target on shares of Meta Platforms from $530.00 to $600.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-four have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $577.26.

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.