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

Chevy Chase Trust Holdings LLC decreased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,177,270 shares of the social networking company’s stock after selling 24,459 shares during the period. Meta Platforms makes up about 2.1% of Chevy Chase Trust Holdings LLC’s portfolio, making the stock its 5th largest position. Chevy Chase Trust Holdings LLC’s holdings in Meta Platforms were worth $673,916,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in META. Insight Wealth Strategies LLC increased its position in shares of Meta Platforms by 10.7% during the 2nd quarter. Insight Wealth Strategies LLC now owns 1,049 shares of the social networking company’s stock valued at $529,000 after purchasing an additional 101 shares during the last quarter. Harbor Capital Advisors Inc. lifted its stake in Meta Platforms by 1.9% during the second quarter. Harbor Capital Advisors Inc. now owns 24,184 shares of the social networking company’s stock worth $12,194,000 after purchasing an additional 443 shares during the last quarter. Olistico Wealth LLC boosted its stake in Meta Platforms by 13.9% in the second quarter. Olistico Wealth LLC now owns 1,674 shares of the social networking company’s stock worth $844,000 after buying an additional 204 shares in the last quarter. Kingswood Wealth Advisors LLC grew its holdings in shares of Meta Platforms by 17.7% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 33,357 shares of the social networking company’s stock valued at $16,819,000 after purchasing an additional 5,022 shares during the last quarter. Finally, Astoria Portfolio Advisors LLC. increased its holdings in shares of Meta Platforms by 4.3% in the second quarter. Astoria Portfolio Advisors LLC. now owns 4,636 shares of the social networking company’s stock worth $2,338,000 after buying an additional 189 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Up 0.9 %

NASDAQ:META opened at $574.32 on Monday. Meta Platforms, Inc. has a 1-year low of $313.66 and a 1-year high of $602.95. The company has a 50-day moving average of $575.21 and a 200 day moving average of $527.76. The firm has a market cap of $1.45 trillion, a PE ratio of 27.05, a price-to-earnings-growth ratio of 1.27 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The firm had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. As a group, research analysts anticipate that Meta Platforms, Inc. will post 22.62 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. Meta Platforms’s dividend payout ratio is currently 9.42%.

Analyst Ratings Changes

Several equities research analysts have weighed in on META shares. Truist Financial increased their price objective on Meta Platforms from $570.00 to $650.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. TD Cowen raised their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Scotiabank cut their target price on shares of Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating for the company in a research report on Thursday, October 31st. Pivotal Research boosted their price objective on shares of Meta Platforms from $780.00 to $800.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Jefferies Financial Group raised their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $634.71.

Insider Transactions at Meta Platforms

In related news, insider Christopher K. Cox sold 20,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $557.52, for a total transaction of $11,150,400.00. Following the sale, the insider now directly owns 338,662 shares of the company’s stock, valued at $188,810,838.24. This trade represents a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $520.00, for a total value of $470,600.00. Following the completion of the transaction, the insider now owns 38,722 shares of the company’s stock, valued at approximately $20,135,440. This represents a 2.28 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 106,239 shares of company stock worth $59,681,541. Company insiders own 13.71% of the company’s stock.

Meta Platforms 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.