Community Financial Services Group LLC Has $9.33 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Community Financial Services Group LLC boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 11.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,188 shares of the social networking company's stock after purchasing an additional 1,723 shares during the quarter. Meta Platforms comprises approximately 2.0% of Community Financial Services Group LLC's holdings, making the stock its 15th largest position. Community Financial Services Group LLC's holdings in Meta Platforms were worth $9,330,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Meta Platforms by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company's stock worth $111,948,344,000 after acquiring an additional 1,502,553 shares during the period. Geode Capital Management LLC lifted its position in shares of Meta Platforms by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company's stock worth $28,719,970,000 after acquiring an additional 1,020,519 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Meta Platforms by 2.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company's stock worth $24,777,282,000 after acquiring an additional 1,049,121 shares during the period. Capital World Investors lifted its position in shares of Meta Platforms by 2.9% during the 4th quarter. Capital World Investors now owns 40,317,105 shares of the social networking company's stock worth $23,606,338,000 after buying an additional 1,141,355 shares during the period. Finally, Norges Bank bought a new position in shares of Meta Platforms during the 4th quarter worth approximately $19,949,512,000. Institutional investors own 79.91% of the company's stock.

Insider Transactions at Meta Platforms

In other news, insider Jennifer Newstead sold 921 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $570.66, for a total transaction of $525,577.86. Following the completion of the transaction, the insider now directly owns 30,261 shares in the company, valued at $17,268,742.26. This represents a 2.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 13,793 shares of the stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $710.24, for a total transaction of $9,796,340.32. Following the transaction, the chief executive officer now owns 57,533 shares of the company's stock, valued at approximately $40,862,237.92. This represents a 19.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 124,831 shares of company stock worth $83,868,872 in the last three months. Insiders own 13.61% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Truist Financial upped their price target on Meta Platforms from $700.00 to $720.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Guggenheim boosted their target price on shares of Meta Platforms from $675.00 to $725.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Monness Crespi & Hardt upped their target price on shares of Meta Platforms from $775.00 to $780.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. DA Davidson dropped their target price on shares of Meta Platforms from $800.00 to $650.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Susquehanna reduced their price target on shares of Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $719.52.

Meta Platforms Trading Up 1.0%

Shares of Meta Platforms stock traded up $7.54 on Friday, hitting $733.63. 18,758,104 shares of the company's stock traded hands, compared to its average volume of 14,525,798. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91. The firm's 50-day moving average price is $633.87 and its two-hundred day moving average price is $625.73. The stock has a market capitalization of $1.84 trillion, a PE ratio of 28.61, a price-to-earnings-growth ratio of 1.74 and a beta of 1.26.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its 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 firm had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The company's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the prior year, the business earned $4.71 EPS. On average, research analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

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

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.