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

Chevy Chase Trust Holdings LLC lowered its holdings in Meta Platforms, Inc. (NASDAQ:META) by 2.0% in the third quarter, HoldingsChannel reports. The firm owned 1,177,270 shares of the social networking company’s stock after selling 24,459 shares during the quarter. Meta Platforms makes up approximately 2.1% of Chevy Chase Trust Holdings LLC’s holdings, making the stock its 5th biggest holding. Chevy Chase Trust Holdings LLC’s holdings in Meta Platforms were worth $673,916,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. POM Investment Strategies LLC purchased a new stake in shares of Meta Platforms during the 2nd quarter worth $38,000. Ruedi Wealth Management Inc. raised its position in Meta Platforms by 122.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 44 shares during the last quarter. Halpern Financial Inc. acquired a new stake in shares of Meta Platforms during the third quarter worth about $46,000. West Financial Advisors LLC acquired a new stake in shares of Meta Platforms in the 3rd quarter worth $49,000. Finally, NewSquare Capital LLC grew its holdings in Meta Platforms by 221.9% during the second quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock worth $52,000 after acquiring an additional 71 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 84 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $600.00, for a total transaction of $50,400.00. Following the completion of the transaction, the chief executive officer now directly owns 518,424 shares in the company, valued at $311,054,400. The trade was a 0.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $565.30, for a total value of $511,596.50. Following the sale, the insider now owns 37,790 shares of the company’s stock, valued at approximately $21,362,687. This trade represents a 2.34 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 106,239 shares of company stock valued at $59,681,541. Corporate insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

META has been the subject of several research reports. The Goldman Sachs Group lifted their price target on Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a report on Thursday, October 31st. Monness Crespi & Hardt raised their price objective on Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Hsbc Global Res upgraded shares of Meta Platforms to a “hold” rating in a report on Thursday, October 24th. Finally, Sanford C. Bernstein upped their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $634.71.

Meta Platforms Stock Performance

Shares of META stock opened at $574.32 on Monday. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 12 month low of $313.66 and a 12 month high of $602.95. The firm has a market capitalization 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 firm has a fifty day simple moving average of $575.21 and a two-hundred day simple moving average of $527.76.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $0.84. The company had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. Analysts forecast that Meta Platforms, Inc. will post 22.62 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

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

About Meta Platforms

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.