Choreo LLC Buys 9,081 Shares of Meta Platforms, Inc. (NASDAQ:META)

Choreo LLC raised its stake in Meta Platforms, Inc. (NASDAQ:META) by 83.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Stone House Investment Management LLC increased its holdings in shares of Meta Platforms by 625.0% during the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after purchasing an additional 75 shares during the period. Gilfoyle & Co LLC bought a new stake in shares of Meta Platforms during the 4th quarter valued at $39,000. Cranbrook Wealth Management LLC increased its position in shares of Meta Platforms by 80.4% in the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after purchasing an additional 45 shares during the period. Beaird Harris Wealth Management LLC grew its stake in Meta Platforms by 68.9% during the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after buying an additional 42 shares in the last quarter. Finally, PayPay Securities Corp increased its holdings in Meta Platforms by 65.2% in the 3rd quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock valued at $33,000 after buying an additional 43 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on META shares. Sanford C. Bernstein reduced their target price on Meta Platforms from $590.00 to $565.00 and set an “outperform” rating on the stock in a report on Thursday. Guggenheim dropped their price objective on shares of Meta Platforms from $520.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday. Truist Financial decreased their target price on shares of Meta Platforms from $550.00 to $535.00 and set a “buy” rating on the stock in a research note on Thursday. JMP Securities reiterated a “market outperform” rating and issued a $550.00 price target on shares of Meta Platforms in a research note on Monday, April 22nd. Finally, Wells Fargo & Company reduced their price objective on Meta Platforms from $609.00 to $600.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $509.18.

Meta Platforms Stock Down 2.8 %

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 1 year low of $229.85 and a 1 year high of $531.49. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. The stock has a 50 day moving average of $494.48 and a 200-day moving average of $405.39. The stock has a market capitalization of $1.10 trillion, a price-to-earnings ratio of 25.07, a P/E/G ratio of 1.15 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. The business had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. As a group, sell-side analysts forecast that Meta Platforms, Inc. will post 20.2 earnings per share for the current year.

Meta Platforms Announces Dividend

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

Insider Buying and Selling

In related news, CTO Andrew Bosworth sold 8,036 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $473.28, for a total transaction of $3,803,278.08. Following the completion of the transaction, the chief technology officer now owns 18,432 shares in the company, valued at $8,723,496.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Jennifer Newstead sold 585 shares of the stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total transaction of $305,370.00. Following the completion of the transaction, the insider now owns 38,398 shares in the company, valued at approximately $20,043,756. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Andrew Bosworth sold 8,036 shares of the business’s stock in a transaction dated 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 sale, the chief technology officer now owns 18,432 shares in the company, valued at $8,723,496.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,277,048 shares of company stock worth $620,679,759. 13.71% of the stock is owned by company insiders.

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.