Meta Platforms, Inc. (NASDAQ:META) Holdings Lessened by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC lowered its stake in Meta Platforms, Inc. (NASDAQ:META) by 1.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,224,230 shares of the social networking company’s stock after selling 20,233 shares during the period. Meta Platforms makes up approximately 1.9% of Chevy Chase Trust Holdings LLC’s investment portfolio, making the stock its 7th biggest position. Chevy Chase Trust Holdings LLC’s holdings in Meta Platforms were worth $594,462,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Modera Wealth Management LLC raised its position in Meta Platforms by 8.5% in the 3rd quarter. Modera Wealth Management LLC now owns 7,775 shares of the social networking company’s stock worth $2,334,000 after purchasing an additional 607 shares during the period. Raleigh Capital Management Inc. raised its position in Meta Platforms by 180.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 902 shares of the social networking company’s stock worth $271,000 after purchasing an additional 580 shares during the period. Financial Insights Inc. purchased a new stake in Meta Platforms in the 3rd quarter worth about $719,000. Dagco Inc. raised its position in Meta Platforms by 4,788.7% in the 3rd quarter. Dagco Inc. now owns 52,847 shares of the social networking company’s stock worth $15,865,000 after purchasing an additional 51,766 shares during the period. Finally, Sunbelt Securities Inc. raised its position in Meta Platforms by 3.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 11,021 shares of the social networking company’s stock worth $3,309,000 after purchasing an additional 378 shares during the period. 79.91% of the stock is owned by institutional investors.

Insider Activity

In other Meta Platforms news, CFO Susan J. Li sold 8,951 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total transaction of $4,223,529.35. Following the completion of the sale, the chief financial officer now owns 74,580 shares of the company’s stock, valued at $35,190,573. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Meta Platforms news, CFO Susan J. Li sold 8,951 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total value of $4,223,529.35. Following the transaction, the chief financial officer now owns 74,580 shares of the company’s stock, valued at $35,190,573. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Javier Olivan sold 412 shares of the stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $472.70, for a total transaction of $194,752.40. Following the transaction, the chief operating officer now directly owns 15,376 shares of the company’s stock, valued at approximately $7,268,235.20. The disclosure for this sale can be found here. Insiders sold a total of 294,768 shares of company stock valued at $146,314,257 in the last 90 days. Company insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on META. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Meta Platforms from $540.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. JMP Securities reissued a “market outperform” rating and issued a $550.00 price objective on shares of Meta Platforms in a research report on Monday, April 22nd. TD Securities increased their price objective on shares of Meta Platforms from $530.00 to $600.00 in a research report on Wednesday. KeyCorp lifted their price target on shares of Meta Platforms from $475.00 to $540.00 and gave the company an “overweight” rating in a research note on Thursday, June 20th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $450.00 price objective on shares of Meta Platforms in a research note on Wednesday, June 12th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $515.64.

Meta Platforms Trading Down 0.1 %

Shares of Meta Platforms stock opened at $534.20 on Thursday. Meta Platforms, Inc. has a 1-year low of $274.38 and a 1-year high of $542.81. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. The stock has a market cap of $1.36 trillion, a P/E ratio of 30.71, a P/E/G ratio of 1.37 and a beta of 1.21. The stock’s 50 day simple moving average is $490.20 and its 200-day simple moving average is $464.66.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. The business had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. Analysts predict that Meta Platforms, Inc. will post 20.15 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were issued a $0.50 dividend. The ex-dividend date was Friday, June 14th. This represents a $2.00 annualized dividend and a yield of 0.37%. Meta Platforms’s payout ratio is 11.49%.

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.