State of Tennessee Department of Treasury Has $461.58 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

State of Tennessee Department of Treasury cut its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 5.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 788,341 shares of the social networking company's stock after selling 45,602 shares during the period. Meta Platforms accounts for 1.7% of State of Tennessee Department of Treasury's portfolio, making the stock its 7th largest holding. State of Tennessee Department of Treasury's holdings in Meta Platforms were worth $461,582,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Ballentine Partners LLC lifted its stake in shares of Meta Platforms by 1.4% during the 4th quarter. Ballentine Partners LLC now owns 58,218 shares of the social networking company's stock worth $34,087,000 after buying an additional 808 shares during the last quarter. UMB Bank n.a. raised its holdings in Meta Platforms by 0.6% in the 4th quarter. UMB Bank n.a. now owns 140,585 shares of the social networking company's stock valued at $82,314,000 after acquiring an additional 897 shares during the period. Brueske Advisory Services LLC acquired a new stake in Meta Platforms during the fourth quarter worth approximately $459,000. Apollon Financial LLC boosted its holdings in shares of Meta Platforms by 11.1% during the fourth quarter. Apollon Financial LLC now owns 1,479 shares of the social networking company's stock worth $866,000 after acquiring an additional 148 shares during the period. Finally, Fisher Asset Management LLC grew its position in shares of Meta Platforms by 1.7% in the fourth quarter. Fisher Asset Management LLC now owns 6,675,174 shares of the social networking company's stock valued at $3,908,382,000 after purchasing an additional 110,040 shares during the last quarter. 79.91% of the stock is owned by institutional investors.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 35,921 shares of the firm's stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $644.76, for a total transaction of $23,160,423.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Susan J. Li sold 8,553 shares of the company's stock in a transaction on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total transaction of $6,300,738.51. Following the completion of the sale, the chief financial officer now directly owns 51,793 shares in the company, valued at approximately $38,154,349.31. This represents a 14.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 343,068 shares of company stock worth $237,676,335 over the last ninety days. 13.71% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on META. The Goldman Sachs Group dropped their price target on Meta Platforms from $765.00 to $685.00 and set a "buy" rating for the company in a report on Monday, April 14th. Robert W. Baird lifted their target price on Meta Platforms from $680.00 to $750.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Tigress Financial restated a "strong-buy" rating on shares of Meta Platforms in a research note on Tuesday, February 11th. Mizuho raised their price target on shares of Meta Platforms from $675.00 to $750.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Finally, Scotiabank cut their price objective on shares of Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating for the company in a report on Monday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $676.55.

Meta Platforms Trading Up 2.5 %

NASDAQ META traded up $12.88 during trading hours on Thursday, reaching $533.15. The company's stock had a trading volume of 13,724,832 shares, compared to its average volume of 14,802,140. Meta Platforms, Inc. has a 52 week low of $414.50 and a 52 week high of $740.91. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The stock has a market cap of $1.35 trillion, a P/E ratio of 22.29, a P/E/G ratio of 1.42 and a beta of 1.28. The firm has a fifty day simple moving average of $594.44 and a 200-day simple moving average of $605.11.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping analysts' consensus estimates of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same quarter last year, the firm earned $5.33 EPS. Equities analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were paid a $0.525 dividend. This is a boost from Meta Platforms's previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.10 annualized dividend and a dividend yield of 0.39%. Meta Platforms's dividend payout ratio is presently 8.78%.

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.