Chevy Chase Trust Holdings LLC decreased its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 2.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,150,018 shares of the social networking company's stock after selling 27,252 shares during the period. Meta Platforms comprises 2.0% of Chevy Chase Trust Holdings LLC's portfolio, making the stock its 6th biggest position. Chevy Chase Trust Holdings LLC's holdings in Meta Platforms were worth $673,347,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Seelaus Asset Management LLC grew its holdings in Meta Platforms by 0.9% in the 4th quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company's stock valued at $960,000 after buying an additional 15 shares in the last quarter. Stephens Consulting LLC grew its holdings in Meta Platforms by 5.3% in the 4th quarter. Stephens Consulting LLC now owns 317 shares of the social networking company's stock valued at $186,000 after buying an additional 16 shares in the last quarter. Lindenwold Advisors INC lifted its position in shares of Meta Platforms by 0.3% during the 3rd quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company's stock valued at $3,388,000 after acquiring an additional 17 shares during the period. Insight Wealth Strategies LLC lifted its position in shares of Meta Platforms by 1.6% during the 4th quarter. Insight Wealth Strategies LLC now owns 1,067 shares of the social networking company's stock valued at $625,000 after acquiring an additional 17 shares during the period. Finally, Steigerwald Gordon & Koch Inc. lifted its position in shares of Meta Platforms by 0.6% during the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 2,680 shares of the social networking company's stock valued at $1,569,000 after acquiring an additional 17 shares during the period. Institutional investors own 79.91% of the company's stock.
Meta Platforms Trading Down 1.6 %
Shares of META traded down $11.22 during mid-day trading on Friday, reaching $683.62. 15,609,265 shares of the company were exchanged, compared to its average volume of 15,750,735. The stock has a market capitalization of $1.73 trillion, a PE ratio of 28.58, a PEG ratio of 1.44 and a beta of 1.20. The business has a 50 day simple moving average of $645.83 and a two-hundred day simple moving average of $589.12. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. Meta Platforms, Inc. has a 52 week low of $414.50 and a 52 week high of $740.91.
Meta Platforms (NASDAQ:META - Get Free Report) last issued its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, topping analysts' consensus estimates of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same period in the prior year, the company earned $5.33 earnings per share. On average, analysts predict that Meta Platforms, Inc. will post 26.66 earnings per share for the current fiscal year.
Meta Platforms Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be issued a $0.525 dividend. This is an increase from Meta Platforms's previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date is Friday, March 14th. Meta Platforms's payout ratio is presently 8.36%.
Insiders Place Their Bets
In other Meta Platforms news, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $562.77, for a total value of $232,424.01. Following the completion of the sale, the chief operating officer now directly owns 19,579 shares in the company, valued at approximately $11,018,473.83. The trade was a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the firm's stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $565.30, for a total value of $511,596.50. Following the completion of the sale, the insider now directly owns 37,790 shares of the company's stock, valued at $21,362,687. This trade represents a 2.34 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 810,217 shares of company stock worth $523,808,864. 13.71% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
A number of research firms have recently weighed in on META. Robert W. Baird upped their target price on Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Rosenblatt Securities reiterated a "buy" rating and set a $811.00 target price on shares of Meta Platforms in a research report on Monday, January 27th. Needham & Company LLC reiterated an "underperform" rating on shares of Meta Platforms in a research report on Monday, January 27th. KeyCorp upped their target price on Meta Platforms from $700.00 to $750.00 and gave the company an "overweight" rating in a research report on Wednesday, January 29th. Finally, Susquehanna upped their target price on Meta Platforms from $675.00 to $800.00 and gave the company a "positive" rating in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Meta Platforms presently has an average rating of "Moderate Buy" and an average target price of $717.90.
Check Out Our Latest Stock Analysis on META
Meta Platforms Company Profile
(
Free Report)
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.
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