Chickasaw Capital Management LLC Raises Holdings in Meta Platforms, Inc. $META

Key Points

• Chickasaw Capital Management LLC increased its holdings in Meta Platforms, Inc. by 12.1% in Q2, owning a total of 7,085 shares valued at approximately $5.23 million.
• Meta reported earnings of $7.14 per share for the last quarter, exceeding analysts' expectations of $5.75 and showing a 21.6% increase in revenue year-over-year.
• The company recently announced a quarterly dividend of $0.525, with a yield of 0.3%, scheduled for payment on September 29th, 2023.

Chickasaw Capital Management LLC grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 12.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,085 shares of the social networking company's stock after acquiring an additional 767 shares during the quarter. Chickasaw Capital Management LLC's holdings in Meta Platforms were worth $5,229,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC lifted its position in shares of Meta Platforms by 67,172.9% during the 1st quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company's stock valued at $13,517,178,000 after buying an additional 23,417,803 shares in the last quarter. Invesco Ltd. lifted its position in shares of Meta Platforms by 2.3% during the 1st quarter. Invesco Ltd. now owns 17,669,795 shares of the social networking company's stock valued at $10,184,163,000 after buying an additional 400,927 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Meta Platforms by 8.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,575,962 shares of the social networking company's stock valued at $8,977,361,000 after purchasing an additional 1,255,546 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Meta Platforms by 4.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,543,468 shares of the social networking company's stock worth $7,229,553,000 after acquiring an additional 536,160 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in Meta Platforms by 2.5% in the 1st quarter. Wellington Management Group LLP now owns 10,041,171 shares of the social networking company's stock worth $5,787,329,000 after acquiring an additional 247,850 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 519 shares of the stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $767.16, for a total transaction of $398,156.04. Following the completion of the sale, the insider directly owned 30,870 shares of the company's stock, valued at approximately $23,682,229.20. This trade represents a 1.65% 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, Director Robert M. Kimmitt sold 465 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $757.47, for a total value of $352,223.55. Following the sale, the director directly owned 8,412 shares of the company's stock, valued at $6,371,837.64. The trade was a 5.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 256,886 shares of company stock valued at $195,693,600 in the last three months. 13.61% of the stock is currently owned by company insiders.

Meta Platforms Trading Up 0.5%

Meta Platforms stock traded up $3.59 during trading on Tuesday, reaching $768.75. 2,534,593 shares of the company were exchanged, compared to its average volume of 14,626,084. Meta Platforms, Inc. has a 52-week low of $479.80 and a 52-week high of $796.25. The company has a market capitalization of $1.93 trillion, a P/E ratio of 27.82, a PEG ratio of 1.62 and a beta of 1.24. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.97 and a quick ratio of 1.97. The stock's 50 day simple moving average is $747.94 and its two-hundred day simple moving average is $667.24.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The social networking company reported $7.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.75 by $1.39. The firm had revenue of $47.52 billion for the quarter, compared to the consensus estimate of $44.55 billion. Meta Platforms had a return on equity of 39.33% and a net margin of 39.99%.The company's quarterly revenue was up 21.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.16 EPS. Meta Platforms has set its Q3 2025 guidance at EPS. On average, equities research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 22nd will be given a $0.525 dividend. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. Meta Platforms's dividend payout ratio is 7.60%.

Analyst Upgrades and Downgrades

META has been the topic of several analyst reports. Truist Financial set a $880.00 target price on Meta Platforms in a research report on Thursday. Piper Sandler upped their target price on Meta Platforms from $808.00 to $880.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Monness Crespi & Hardt upped their target price on Meta Platforms from $780.00 to $860.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Needham & Company LLC upgraded Meta Platforms from an "underperform" rating to a "hold" rating in a report on Thursday, July 3rd. Finally, Citigroup reiterated an "outperform" rating on shares of Meta Platforms in a report on Thursday, July 31st. Three investment analysts have rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $826.05.

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.