Meta Platforms, Inc. (NASDAQ:META) is Chicago Capital LLC's Largest Position

Chicago Capital LLC increased its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 1.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 311,380 shares of the social networking company's stock after acquiring an additional 3,314 shares during the period. Meta Platforms makes up approximately 4.9% of Chicago Capital LLC's investment portfolio, making the stock its biggest position. Chicago Capital LLC's holdings in Meta Platforms were worth $178,246,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Cooper Financial Group grew its holdings in shares of Meta Platforms by 7.7% in the first quarter. Cooper Financial Group now owns 4,336 shares of the social networking company's stock worth $2,105,000 after purchasing an additional 311 shares during the last quarter. Catalyst Private Wealth LLC increased its position in shares of Meta Platforms by 31.8% during the first quarter. Catalyst Private Wealth LLC now owns 6,920 shares of the social networking company's stock worth $3,360,000 after acquiring an additional 1,669 shares during the period. GenWealth Group Inc. raised its stake in shares of Meta Platforms by 4.5% during the first quarter. GenWealth Group Inc. now owns 1,160 shares of the social networking company's stock valued at $563,000 after acquiring an additional 50 shares in the last quarter. Opal Wealth Advisors LLC boosted its holdings in shares of Meta Platforms by 3.8% in the first quarter. Opal Wealth Advisors LLC now owns 2,349 shares of the social networking company's stock valued at $1,141,000 after purchasing an additional 85 shares during the period. Finally, San Luis Wealth Advisors LLC grew its stake in Meta Platforms by 8.0% in the first quarter. San Luis Wealth Advisors LLC now owns 1,424 shares of the social networking company's stock worth $692,000 after purchasing an additional 106 shares in the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Stock Performance

Shares of META traded down $1.31 during trading hours on Monday, hitting $575.16. The stock had a trading volume of 8,089,134 shares, compared to its average volume of 15,171,940. The firm has a 50-day moving average price of $547.72 and a 200 day moving average price of $509.22. Meta Platforms, Inc. has a fifty-two week low of $279.40 and a fifty-two week high of $602.95. The firm has a market capitalization of $1.46 trillion, a price-to-earnings ratio of 33.04, a PEG ratio of 1.45 and a beta of 1.22. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping analysts' consensus estimates of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. During the same quarter in the prior year, the firm posted $3.23 earnings per share. The company's revenue was up 22.1% compared to the same quarter last year. As a group, research analysts anticipate that Meta Platforms, Inc. will post 21.37 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. Meta Platforms's dividend payout ratio is currently 11.49%.

Analyst Ratings Changes

Several brokerages have weighed in on META. KeyCorp upped their target price on Meta Platforms from $560.00 to $655.00 and gave the stock an "overweight" rating in a report on Wednesday, October 9th. Morgan Stanley raised their target price on shares of Meta Platforms from $550.00 to $575.00 and gave the company an "overweight" rating in a research report on Thursday, August 1st. TD Securities increased their price objective on shares of Meta Platforms from $530.00 to $600.00 in a research note on Wednesday, July 10th. Oppenheimer upped their target price on Meta Platforms from $525.00 to $615.00 and gave the stock an "outperform" rating in a report on Thursday, August 1st. Finally, Jefferies Financial Group lifted their price target on Meta Platforms from $565.00 to $600.00 and gave the company a "buy" rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, three have issued 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.com, Meta Platforms currently has a consensus rating of "Moderate Buy" and a consensus price target of $617.37.

Insider Buying and Selling

In other Meta Platforms news, CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the transaction, the chief technology officer now directly owns 11,990 shares of the company's stock, valued at $6,315,852.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CTO Andrew Bosworth sold 5,057 shares of the firm's stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $2,663,825.32. Following the transaction, the chief technology officer now owns 11,990 shares in the company, valued at $6,315,852.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jennifer Newstead sold 901 shares of Meta Platforms stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $451.15, for a total value of $406,486.15. Following the completion of the sale, the insider now directly owns 33,324 shares in the company, valued at $15,034,122.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 250,816 shares of company stock valued at $132,421,828. 13.71% of the stock is owned by corporate insiders.

Meta Platforms 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.