Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Choreo LLC

Choreo LLC lessened its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 3.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 85,195 shares of the social networking company's stock after selling 3,416 shares during the period. Choreo LLC's holdings in Meta Platforms were worth $50,231,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ballentine Partners LLC raised its position in Meta Platforms by 1.4% during the fourth quarter. Ballentine Partners LLC now owns 58,218 shares of the social networking company's stock worth $34,087,000 after acquiring an additional 808 shares during the period. UMB Bank n.a. increased its stake in shares of Meta Platforms by 0.6% during the fourth quarter. UMB Bank n.a. now owns 140,585 shares of the social networking company's stock worth $82,314,000 after purchasing an additional 897 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Meta Platforms by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company's stock worth $7,915,451,000 after purchasing an additional 118,298 shares during the last quarter. LS Investment Advisors LLC lifted its stake in Meta Platforms by 111.4% in the 3rd quarter. LS Investment Advisors LLC now owns 11,679 shares of the social networking company's stock valued at $6,686,000 after buying an additional 6,155 shares in the last quarter. Finally, Cutter & CO Brokerage Inc. boosted its holdings in Meta Platforms by 0.7% in the 3rd quarter. Cutter & CO Brokerage Inc. now owns 9,735 shares of the social networking company's stock worth $5,573,000 after buying an additional 65 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company's stock.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 8,951 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $577.16, for a total transaction of $5,166,159.16. Following the completion of the sale, the chief financial officer now directly owns 51,591 shares of the company's stock, valued at approximately $29,776,261.56. This trade represents a 14.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicholas Clegg sold 7,296 shares of the business's stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $553.48, for a total value of $4,038,190.08. Following the completion of the transaction, the insider now directly owns 38,695 shares in the company, valued at approximately $21,416,908.60. The trade was a 15.86 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 756,735 shares of company stock worth $475,285,232. Insiders own 13.71% of the company's stock.

Meta Platforms Stock Performance

META traded up $2.40 on Tuesday, reaching $719.80. The company had a trading volume of 12,979,797 shares, compared to its average volume of 15,791,308. The stock has a 50-day moving average price of $629.73 and a 200-day moving average price of $576.95. The stock has a market capitalization of $1.82 trillion, a PE ratio of 30.09, a P/E/G ratio of 1.46 and a beta of 1.20. Meta Platforms, Inc. has a 1 year low of $414.50 and a 1 year high of $725.01. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, beating the consensus estimate of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same period in the prior year, the company posted $5.33 earnings per share. As a group, research analysts forecast that Meta Platforms, Inc. will post 26.66 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.28%. Meta Platforms's dividend payout ratio (DPR) is presently 8.36%.

Analysts Set New Price Targets

META has been the subject of a number of research analyst reports. Robert W. Baird increased their target price on Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. The Goldman Sachs Group boosted their price target on Meta Platforms from $688.00 to $765.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. Arete Research upgraded Meta Platforms to a "hold" rating in a report on Friday, January 24th. Piper Sandler upped their target price on shares of Meta Platforms from $670.00 to $775.00 and gave the stock an "overweight" rating in a report on Thursday, January 30th. Finally, Wedbush reiterated an "outperform" rating and issued a $770.00 target price (up from $700.00) on shares of Meta Platforms in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of "Moderate Buy" and a consensus price target of $717.90.

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.