Choreo LLC Has $11.10 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Choreo LLC boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 14.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,847 shares of the social networking company’s stock after buying an additional 2,848 shares during the period. Choreo LLC’s holdings in Meta Platforms were worth $11,095,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Meta Platforms by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock valued at $65,960,215,000 after buying an additional 3,104,550 shares during the period. Capital World Investors increased its position in Meta Platforms by 2.5% in the 4th quarter. Capital World Investors now owns 38,054,513 shares of the social networking company’s stock worth $13,469,906,000 after purchasing an additional 927,491 shares during the last quarter. Capital International Investors increased its position in Meta Platforms by 3.2% in the 4th quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock worth $12,296,383,000 after purchasing an additional 1,083,719 shares during the last quarter. Norges Bank acquired a new position in Meta Platforms in the 4th quarter worth about $11,285,855,000. Finally, Capital Research Global Investors increased its position in Meta Platforms by 17.2% in the 4th quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock worth $10,695,722,000 after purchasing an additional 4,440,229 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 8,951 shares of the 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 transaction, the chief financial officer now owns 74,580 shares in the company, valued at approximately $35,190,573. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Susan J. Li sold 8,951 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total value of $4,223,529.35. Following the transaction, the chief financial officer now directly owns 74,580 shares in the company, valued at $35,190,573. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Javier Olivan sold 490 shares of Meta Platforms stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $517.75, for a total transaction of $253,697.50. Following the completion of the sale, the chief operating officer now 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 260,047 shares of company stock worth $127,838,805 in the last ninety days. 13.71% of the stock is owned by company insiders.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $529.32 on Tuesday. The stock’s 50-day moving average is $486.29 and its 200-day moving average is $462.92. The firm has a market cap of $1.34 trillion, a price-to-earnings ratio of 30.40, a price-to-earnings-growth ratio of 1.40 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. Meta Platforms, Inc. has a one year low of $274.38 and a one year high of $542.81.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. The firm had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. Equities analysts predict that Meta Platforms, Inc. will post 20.15 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were issued 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 0.38%. Meta Platforms’s payout ratio is currently 11.49%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on META. Barclays reduced their price objective 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. Guggenheim dropped their target price on Meta Platforms from $520.00 to $500.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Benchmark reaffirmed a “hold” rating on shares of Meta Platforms in a report on Monday, April 22nd. Wolfe Research dropped their price target on Meta Platforms from $530.00 to $500.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $545.00 price target (down from $600.00) on shares of Meta Platforms in a report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus target price of $511.88.

Read Our Latest Stock Report on META

Meta Platforms Company 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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