Choreo LLC Boosts Holdings in Meta Platforms, Inc. $META

Choreo LLC lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,663 shares of the social networking company’s stock after purchasing an additional 2,493 shares during the period. Meta Platforms comprises 0.9% of Choreo LLC’s investment portfolio, making the stock its 24th biggest position. Choreo LLC’s holdings in Meta Platforms were worth $62,481,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Evergreen Private Wealth LLC raised its stake in Meta Platforms by 237.5% in the 2nd quarter. Evergreen Private Wealth LLC now owns 54 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 38 shares during the last quarter. Briaud Financial Planning Inc acquired a new stake in shares of Meta Platforms in the second quarter valued at about $42,000. WFA Asset Management Corp lifted its stake in shares of Meta Platforms by 42.6% in the second quarter. WFA Asset Management Corp now owns 67 shares of the social networking company’s stock worth $49,000 after buying an additional 20 shares in the last quarter. Maseco LLP acquired a new position in Meta Platforms during the second quarter worth about $54,000. Finally, eCIO Inc. purchased a new stake in Meta Platforms during the 1st quarter valued at about $58,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on META shares. Citizens Jmp reissued an “outperform” rating and issued a $900.00 target price (up from $750.00) on shares of Meta Platforms in a research note on Monday, November 24th. TD Cowen cut their price target on Meta Platforms from $875.00 to $810.00 and set a “buy” rating for the company in a report on Thursday, October 30th. Jefferies Financial Group reduced their price objective on Meta Platforms from $950.00 to $910.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. Zacks Research lowered Meta Platforms from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Finally, JPMorgan Chase & Co. dropped their target price on Meta Platforms from $875.00 to $800.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. Five research analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and an average target price of $819.43.

Insider Transactions at Meta Platforms

In other news, insider Jennifer Newstead sold 519 shares of Meta Platforms stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $642.22, for a total value of $333,312.18. Following the completion of the sale, the insider directly owned 30,734 shares of the company’s stock, valued at approximately $19,737,989.48. The trade was a 1.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert M. Kimmitt sold 600 shares of the stock in a transaction dated 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 directly owned 7,347 shares in the company, valued at approximately $4,476,894.45. The trade was a 7.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 41,959 shares of company stock worth $26,671,107 in the last three months. Company insiders own 13.61% of the company’s stock.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $673.42 on Friday. The business’s fifty day simple moving average is $673.16 and its 200-day simple moving average is $706.04. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.15. The firm has a market cap of $1.70 trillion, a PE ratio of 29.74, a price-to-earnings-growth ratio of 1.39 and a beta of 1.28. Meta Platforms, Inc. has a 52 week low of $479.80 and a 52 week high of $796.25.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, October 29th. The social networking company reported $7.25 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $49.34 billion. During the same quarter in the prior year, the company posted $6.03 earnings per share. Meta Platforms’s revenue for the quarter was up 26.2% compared to the same quarter last year. Equities analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

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

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.