Choreo LLC Grows Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Choreo LLC raised its position in Meta Platforms, Inc. (NASDAQ:META) by 83.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,999 shares of the social networking company’s stock after acquiring an additional 9,081 shares during the quarter. Choreo LLC’s holdings in Meta Platforms were worth $7,079,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Stone House Investment Management LLC raised its holdings in Meta Platforms by 625.0% in the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after acquiring an additional 75 shares in the last quarter. Beaird Harris Wealth Management LLC lifted its position in shares of Meta Platforms by 68.9% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after purchasing an additional 42 shares during the last quarter. PayPay Securities Corp grew its stake in shares of Meta Platforms by 65.2% during the third quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock worth $33,000 after purchasing an additional 43 shares in the last quarter. Cranbrook Wealth Management LLC increased its holdings in Meta Platforms by 80.4% in the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after buying an additional 45 shares during the last quarter. Finally, Gilfoyle & Co LLC acquired a new stake in Meta Platforms in the fourth quarter valued at $39,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 19,681 shares of the company’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $393.85, for a total value of $7,751,361.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CTO Andrew Bosworth sold 8,036 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $473.28, for a total value of $3,803,278.08. Following the completion of the transaction, the chief technology officer now owns 18,432 shares of the company’s stock, valued at approximately $8,723,496.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 19,681 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $393.85, for a total transaction of $7,751,361.85. The disclosure for this sale can be found here. Insiders have sold 1,277,048 shares of company stock valued at $620,679,759 in the last quarter. Insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Shares of Meta Platforms stock traded down $12.24 on Monday, hitting $431.05. The company had a trading volume of 11,231,361 shares, compared to its average volume of 18,291,664. Meta Platforms, Inc. has a 52 week low of $229.85 and a 52 week high of $531.49. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. The company has a market cap of $1.10 trillion, a PE ratio of 25.07, a PEG ratio of 1.15 and a beta of 1.20. The business has a 50-day simple moving average of $494.48 and a 200-day simple moving average of $405.39.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $36.28 billion. Research analysts expect that Meta Platforms, Inc. will post 20.2 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, February 22nd were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.46%. The ex-dividend date was Wednesday, February 21st. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Stifel Nicolaus boosted their target price on Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. JMP Securities reiterated a “market outperform” rating and set a $550.00 price target on shares of Meta Platforms in a research note on Monday, April 22nd. Piper Sandler reiterated an “overweight” rating and set a $545.00 target price (down previously from $600.00) on shares of Meta Platforms in a research report on Thursday. Oppenheimer decreased their target price on Meta Platforms from $585.00 to $500.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, Benchmark reissued a “hold” rating on shares of Meta Platforms in a report on Monday, April 22nd. One analyst has 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $509.18.

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.