Choreo LLC Raises Position in Meta Platforms, Inc. $META

Choreo LLC lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 84,663 shares of the social networking company’s stock after acquiring an additional 2,493 shares during the quarter. Meta Platforms accounts for about 0.9% of Choreo LLC’s portfolio, making the stock its 24th largest position. Choreo LLC’s holdings in Meta Platforms were worth $62,481,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of META. Brighton Jones LLC increased its stake in shares of Meta Platforms by 1.7% during the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock worth $20,230,000 after buying an additional 570 shares during the period. Revolve Wealth Partners LLC increased its position in shares of Meta Platforms by 10.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company’s stock valued at $5,537,000 after purchasing an additional 875 shares during the last quarter. Smart Money Group LLC raised its holdings in shares of Meta Platforms by 20.4% in the 1st quarter. Smart Money Group LLC now owns 2,052 shares of the social networking company’s stock valued at $1,182,000 after purchasing an additional 348 shares in the last quarter. Aspire Growth Partners LLC lifted its position in shares of Meta Platforms by 7.3% during the 1st quarter. Aspire Growth Partners LLC now owns 662 shares of the social networking company’s stock worth $395,000 after purchasing an additional 45 shares during the last quarter. Finally, Waddell & Associates LLC lifted its position in shares of Meta Platforms by 5.0% during the 1st quarter. Waddell & Associates LLC now owns 2,508 shares of the social networking company’s stock worth $1,446,000 after purchasing an additional 119 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $673.42 on Friday. The firm’s fifty day simple moving average is $673.16 and its 200-day simple moving average is $706.04. Meta Platforms, Inc. has a 12 month low of $479.80 and a 12 month high of $796.25. The stock has a market capitalization of $1.70 trillion, a price-to-earnings ratio of 29.74, a PEG ratio of 1.39 and a beta of 1.28. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.98 and a quick ratio of 1.98.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, October 29th. The social networking company reported $7.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.74 by $0.51. Meta Platforms had a net margin of 30.89% and a return on equity of 39.35%. The company had revenue of $51.24 billion for the quarter, compared to the consensus estimate of $49.34 billion. During the same period last year, the firm posted $6.03 EPS. Meta Platforms’s revenue for the quarter was up 26.2% on a year-over-year basis. As a group, equities analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Monday, December 15th will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 15th. Meta Platforms’s dividend payout ratio (DPR) is presently 9.28%.

Insider Buying and Selling

In other news, Director Robert M. Kimmitt sold 600 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $609.35, for a total value of $365,610.00. Following the transaction, the director owned 7,347 shares of the company’s stock, valued at approximately $4,476,894.45. The trade was a 7.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Javier Olivan sold 2,610 shares of the stock in a transaction on Saturday, November 15th. The stock was sold at an average price of $609.46, for a total value of $1,590,690.60. Following the sale, the chief operating officer directly owned 9,784 shares of the company’s stock, valued at approximately $5,962,956.64. This represents a 21.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 41,959 shares of company stock worth $26,671,107. 13.61% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on META shares. Needham & Company LLC restated a “hold” rating on shares of Meta Platforms in a research note on Thursday, October 30th. Benchmark lowered Meta Platforms from a “buy” rating to a “hold” rating in a research report on Thursday, October 30th. UBS Group upped their price target on Meta Platforms from $900.00 to $915.00 and gave the company a “buy” rating in a report on Thursday, October 30th. BNP Paribas Exane started coverage on shares of Meta Platforms in a report on Monday, November 24th. They set an “outperform” rating and a $800.00 price objective on the stock. Finally, BNP Paribas assumed coverage on shares of Meta Platforms in a report on Monday, November 24th. They issued an “outperform” rating and a $800.00 target price for the company. Five analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $819.43.

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.