Meta Platforms, Inc. (NASDAQ:META) is Chevy Chase Trust Holdings LLC's 6th Largest Position

Chevy Chase Trust Holdings LLC raised its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 0.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 1,154,710 shares of the social networking company's stock after acquiring an additional 4,692 shares during the quarter. Meta Platforms makes up about 2.1% of Chevy Chase Trust Holdings LLC's portfolio, making the stock its 6th largest holding. Chevy Chase Trust Holdings LLC's holdings in Meta Platforms were worth $665,529,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in META. Norges Bank acquired a new stake in shares of Meta Platforms during the fourth quarter worth $19,949,512,000. GAMMA Investing LLC increased its position in shares of Meta Platforms by 67,172.9% during the first quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company's stock worth $13,517,178,000 after buying an additional 23,417,803 shares during the period. Proficio Capital Partners LLC increased its position in shares of Meta Platforms by 78,471.1% during the fourth quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company's stock worth $3,658,713,000 after buying an additional 6,240,810 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Meta Platforms during the fourth quarter worth $2,243,603,000. Finally, Northern Trust Corp increased its position in shares of Meta Platforms by 13.5% during the fourth quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company's stock worth $13,727,613,000 after buying an additional 2,787,832 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 13,793 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $701.13, for a total value of $9,670,686.09. Following the completion of the transaction, the chief executive officer now owns 118,279 shares of the company's stock, valued at approximately $82,928,955.27. This trade represents a 10.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Andrew Bosworth sold 5,057 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total transaction of $3,334,383.52. Following the completion of the transaction, the chief technology officer now directly owns 16,463 shares of the company's stock, valued at approximately $10,855,043.68. The trade was a 23.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 124,831 shares of company stock worth $83,868,872 over the last three months. Insiders own 13.61% of the company's stock.

Meta Platforms Price Performance

META traded up $7.54 during midday trading on Friday, hitting $733.63. 18,758,104 shares of the company traded hands, compared to its average volume of 14,525,798. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $1.84 trillion, a price-to-earnings ratio of 28.61, a PEG ratio of 1.74 and a beta of 1.26. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $740.91. The business has a 50 day simple moving average of $633.87 and a two-hundred day simple moving average of $625.73.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating analysts' consensus estimates of $5.33 by $1.10. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The business had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. During the same period in the prior year, the business earned $4.71 earnings per share. The company's quarterly revenue was up 16.1% compared to the same quarter last year. On average, equities analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date was Monday, June 16th. Meta Platforms's dividend payout ratio is presently 8.19%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on META shares. The Goldman Sachs Group increased their price objective on shares of Meta Platforms from $685.00 to $690.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Evercore ISI raised their price target on shares of Meta Platforms from $725.00 to $750.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Pivotal Research dropped their price objective on shares of Meta Platforms from $875.00 to $830.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. JPMorgan Chase & Co. raised their price target on shares of Meta Platforms from $675.00 to $735.00 and gave the company an "overweight" rating in a research report on Wednesday, June 4th. Finally, Scotiabank dropped their price target on shares of Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating on the stock in a research report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Meta Platforms has an average rating of "Moderate Buy" and a consensus price target of $719.52.

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.