Meta Platforms, Inc. (NASDAQ:META) Holdings Decreased by Charles Schwab Trust Co

Charles Schwab Trust Co cut its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 43.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 731 shares of the social networking company's stock after selling 558 shares during the period. Charles Schwab Trust Co's holdings in Meta Platforms were worth $421,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Millstone Evans Group LLC purchased a new position in Meta Platforms in the fourth quarter valued at approximately $40,000. WealthTrak Capital Management LLC purchased a new stake in Meta Platforms during the fourth quarter worth approximately $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Meta Platforms in the fourth quarter worth $45,000. Stuart Chaussee & Associates Inc. purchased a new position in shares of Meta Platforms in the 4th quarter valued at $47,000. Finally, Conquis Financial LLC acquired a new position in shares of Meta Platforms during the 4th quarter valued at $59,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Meta Platforms

In related news, insider Jennifer Newstead sold 519 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $671.00, for a total value of $348,249.00. Following the sale, the insider now owns 29,702 shares of the company's stock, valued at $19,930,042. This trade represents a 1.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Javier Olivan sold 517 shares of Meta Platforms stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $644.93, for a total transaction of $333,428.81. Following the completion of the sale, the chief operating officer now owns 9,921 shares in the company, valued at approximately $6,398,350.53. This represents a 4.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,171 shares of company stock worth $35,163,457. 13.61% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on META. Piper Sandler increased their price target on Meta Platforms from $610.00 to $650.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Citigroup increased their target price on Meta Platforms from $655.00 to $690.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Pivotal Research reduced their price target on Meta Platforms from $875.00 to $830.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Susquehanna lowered their price objective on shares of Meta Platforms from $800.00 to $700.00 and set a "positive" rating for the company in a research report on Thursday, May 1st. Finally, The Goldman Sachs Group lifted their price objective on shares of Meta Platforms from $685.00 to $690.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms has a consensus rating of "Moderate Buy" and a consensus price target of $702.48.

Meta Platforms Stock Performance

META traded up $13.09 on Friday, hitting $697.71. 11,707,462 shares of the company's stock were exchanged, compared to its average volume of 14,495,226. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The stock has a fifty day moving average of $585.44 and a two-hundred day moving average of $613.90. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91. The firm has a market cap of $1.75 trillion, a PE ratio of 29.17, a P/E/G ratio of 1.42 and a beta of 1.24.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. The business had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The business's quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the firm earned $4.71 EPS. On average, research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be given a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.30%. The ex-dividend date of this dividend is Monday, June 16th. Meta Platforms's dividend payout ratio is presently 8.19%.

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.