Chilton Capital Management LLC grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 1.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 124,388 shares of the social networking company's stock after purchasing an additional 2,022 shares during the period. Meta Platforms makes up approximately 3.1% of Chilton Capital Management LLC's holdings, making the stock its 5th largest position. Chilton Capital Management LLC's holdings in Meta Platforms were worth $71,692,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the business. Inlight Wealth Management LLC purchased a new position in Meta Platforms in the 1st quarter worth approximately $25,000. Barnes Dennig Private Wealth Management LLC purchased a new position in Meta Platforms in the 1st quarter worth approximately $28,000. Millstone Evans Group LLC purchased a new position in Meta Platforms in the 4th quarter worth approximately $40,000. WealthTrak Capital Management LLC purchased a new position in Meta Platforms in the 4th quarter worth approximately $43,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new position in Meta Platforms in the 4th quarter worth approximately $45,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Meta Platforms
In other news, COO Javier Olivan sold 517 shares of Meta Platforms stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $717.51, for a total value of $370,952.67. Following the sale, the chief operating officer directly owned 7,336 shares of the company's stock, valued at approximately $5,263,653.36. The trade was a 6.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 519 shares of Meta Platforms stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $721.57, for a total value of $374,494.83. Following the completion of the sale, the insider directly owned 27,107 shares in the company, valued at $19,559,597.99. This trade represents a 1.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 153,792 shares of company stock valued at $105,466,325. 13.61% of the stock is currently owned by insiders.
Meta Platforms Price Performance
NASDAQ:META opened at $727.24 on Friday. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16. The business's 50-day simple moving average is $672.36 and its two-hundred day simple moving average is $633.41. The stock has a market cap of $1.83 trillion, a PE ratio of 28.36, a P/E/G ratio of 1.80 and a beta of 1.28. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $747.90.
Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating analysts' consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The business had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. During the same period last year, the firm earned $4.71 earnings per share. The business's quarterly revenue was up 16.1% on a year-over-year basis. As a group, analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.
Meta Platforms Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were issued a $0.525 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.29%. Meta Platforms's dividend payout ratio (DPR) is 8.19%.
Wall Street Analysts Forecast Growth
META has been the subject of a number of recent analyst reports. KeyCorp boosted their price objective on shares of Meta Platforms from $645.00 to $655.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Wells Fargo & Company boosted their target price on shares of Meta Platforms from $664.00 to $783.00 and gave the company an "overweight" rating in a research note on Tuesday. TD Securities decreased their target price on shares of Meta Platforms from $725.00 to $700.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Citigroup boosted their target price on shares of Meta Platforms from $690.00 to $803.00 and gave the company a "buy" rating in a research note on Tuesday, June 24th. Finally, Moffett Nathanson boosted their target price on shares of Meta Platforms from $525.00 to $605.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Five investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Meta Platforms presently has a consensus rating of "Moderate Buy" and an average target price of $727.95.
View Our Latest Report on Meta Platforms
About Meta Platforms
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:META - Free Report).
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