Meta Platforms, Inc. (NASDAQ:META) Holdings Decreased by Chico Wealth RIA

Chico Wealth RIA trimmed its position in Meta Platforms, Inc. (NASDAQ:META) by 12.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,288 shares of the social networking company’s stock after selling 178 shares during the quarter. Meta Platforms makes up approximately 0.6% of Chico Wealth RIA’s holdings, making the stock its 15th largest position. Chico Wealth RIA’s holdings in Meta Platforms were worth $625,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in Meta Platforms by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock valued at $65,960,215,000 after purchasing an additional 3,104,550 shares during the period. Capital World Investors boosted its position in Meta Platforms by 2.5% during the 4th quarter. Capital World Investors now owns 38,054,513 shares of the social networking company’s stock valued at $13,469,906,000 after purchasing an additional 927,491 shares during the period. Morgan Stanley boosted its position in Meta Platforms by 3.4% during the 3rd quarter. Morgan Stanley now owns 36,277,772 shares of the social networking company’s stock valued at $10,890,950,000 after purchasing an additional 1,184,978 shares during the period. Capital International Investors boosted its position in Meta Platforms by 3.2% during the 4th quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock valued at $12,296,383,000 after purchasing an additional 1,083,719 shares during the period. Finally, Norges Bank acquired a new position in Meta Platforms during the 4th quarter valued at approximately $11,285,855,000. 79.91% of the stock is currently owned by institutional investors.

Insider Activity at Meta Platforms

In related news, COO Javier Olivan sold 490 shares of the stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $516.51, for a total transaction of $253,089.90. Following the completion of the sale, the chief operating officer now owns 8,069 shares in the company, valued at approximately $4,167,719.19. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 2,011 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $500.92, for a total value of $1,007,350.12. Following the completion of the transaction, the chief executive officer now owns 318,932 shares of the company’s stock, valued at approximately $159,759,417.44. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Javier Olivan sold 490 shares of the stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $516.51, for a total value of $253,089.90. Following the completion of the transaction, the chief operating officer now directly owns 8,069 shares of the company’s stock, valued at $4,167,719.19. The disclosure for this sale can be found here. Insiders sold a total of 218,086 shares of company stock worth $106,423,370 in the last 90 days. 13.71% of the stock is owned by company insiders.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $504.68 on Tuesday. The business has a 50 day moving average price of $480.46 and a 200 day moving average price of $456.83. Meta Platforms, Inc. has a twelve month low of $274.38 and a twelve month high of $531.49. The company has a market cap of $1.28 trillion, a price-to-earnings ratio of 28.99, a PEG ratio of 1.31 and a beta of 1.21. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The firm had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. Research analysts predict that Meta Platforms, Inc. will post 20.16 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were paid a dividend of $0.50 per share. The ex-dividend date was Friday, June 14th. This represents a $2.00 annualized dividend and a yield of 0.40%. Meta Platforms’s payout ratio is 11.49%.

Analyst Ratings Changes

A number of research firms recently issued reports on META. Deutsche Bank Aktiengesellschaft reduced their price objective on Meta Platforms from $540.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. JMP Securities reiterated a “market outperform” rating and set a $550.00 price target on shares of Meta Platforms in a research report on Monday, April 22nd. Barclays reduced their price target on Meta Platforms from $550.00 to $520.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. KeyCorp boosted their price target on Meta Platforms from $475.00 to $540.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. Finally, UBS Group reduced their price target on Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus price target of $511.27.

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.