Meta Platforms, Inc. (NASDAQ:META) is Chase Investment Counsel Corp’s 3rd Largest Position

Chase Investment Counsel Corp raised its position in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 1.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,069 shares of the social networking company’s stock after buying an additional 218 shares during the quarter. Meta Platforms comprises approximately 3.4% of Chase Investment Counsel Corp’s portfolio, making the stock its 3rd biggest position. Chase Investment Counsel Corp’s holdings in Meta Platforms were worth $9,259,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. S.A. Mason LLC boosted its stake in shares of Meta Platforms by 1.5% in the first quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock worth $645,000 after acquiring an additional 20 shares during the last quarter. Horizon Bancorp Inc. IN boosted its stake in shares of Meta Platforms by 2.0% in the first quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock worth $513,000 after acquiring an additional 21 shares during the last quarter. LongView Wealth Management boosted its stake in shares of Meta Platforms by 1.3% in the first quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock worth $856,000 after acquiring an additional 22 shares during the last quarter. Hanson & Doremus Investment Management lifted its position in Meta Platforms by 5.3% during the first quarter. Hanson & Doremus Investment Management now owns 435 shares of the social networking company’s stock worth $211,000 after buying an additional 22 shares in the last quarter. Finally, Madison Wealth Partners Inc boosted its stake in Meta Platforms by 1.6% during the fourth quarter. Madison Wealth Partners Inc now owns 1,417 shares of the social networking company’s stock worth $502,000 after buying an additional 23 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on META. Benchmark reissued a “hold” rating on shares of Meta Platforms in a research note on Monday, April 22nd. Stifel Nicolaus upped their price target on Meta Platforms from $527.00 to $588.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Roth Mkm increased their target price on Meta Platforms from $500.00 to $510.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Barclays decreased their target price on Meta Platforms from $550.00 to $520.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. Finally, Guggenheim decreased their target price on Meta Platforms from $520.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $513.59.

Read Our Latest Stock Analysis on Meta Platforms

Meta Platforms Stock Up 0.1 %

Meta Platforms stock opened at $530.00 on Wednesday. Meta Platforms, Inc. has a twelve month low of $274.38 and a twelve month high of $542.81. The stock has a 50 day moving average of $488.29 and a two-hundred day moving average of $464.16. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $1.34 trillion, a price-to-earnings ratio of 30.44, a PEG ratio of 1.37 and a beta of 1.21.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.32 by $0.39. The business had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. As a group, research analysts expect that Meta Platforms, Inc. will post 20.15 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were issued a $0.50 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.38%. Meta Platforms’s dividend payout ratio is currently 11.49%.

Insider Activity

In related news, CFO Susan J. Li sold 8,951 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total value of $4,223,529.35. Following the completion of the transaction, the chief financial officer now directly owns 74,580 shares of the company’s stock, valued at approximately $35,190,573. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Meta Platforms news, CFO Susan J. Li sold 8,951 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total transaction of $4,223,529.35. Following the completion of the transaction, the chief financial officer now owns 74,580 shares of the company’s stock, valued at $35,190,573. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Javier Olivan sold 490 shares of the firm’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $517.75, for a total value of $253,697.50. Following the transaction, the chief operating officer now directly owns 7,579 shares of the company’s stock, valued at approximately $3,924,027.25. The disclosure for this sale can be found here. Insiders sold 260,459 shares of company stock valued at $128,049,749 in the last three months. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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