Chicago Capital LLC Has $168.32 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Chicago Capital LLC trimmed its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 5.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 292,044 shares of the social networking company's stock after selling 17,273 shares during the period. Meta Platforms comprises approximately 4.8% of Chicago Capital LLC's investment portfolio, making the stock its biggest position. Chicago Capital LLC's holdings in Meta Platforms were worth $168,323,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of META. Vanguard Group Inc. lifted its stake in shares of Meta Platforms by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company's stock worth $111,948,344,000 after acquiring an additional 1,502,553 shares during the period. Geode Capital Management LLC raised its holdings in Meta Platforms by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company's stock worth $28,719,970,000 after purchasing an additional 1,020,519 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Meta Platforms by 2.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company's stock worth $24,777,282,000 after purchasing an additional 1,049,121 shares during the last quarter. Capital World Investors lifted its position in shares of Meta Platforms by 2.9% in the 4th quarter. Capital World Investors now owns 40,317,105 shares of the social networking company's stock worth $23,606,338,000 after purchasing an additional 1,141,355 shares during the period. Finally, Norges Bank bought a new stake in shares of Meta Platforms in the 4th quarter valued at $19,949,512,000. 79.91% of the stock is owned by institutional investors.

Meta Platforms Stock Performance

Meta Platforms stock traded down $1.46 during midday trading on Thursday, reaching $695.77. The stock had a trading volume of 9,635,650 shares, compared to its average volume of 14,501,973. 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 firm has a market capitalization of $1.75 trillion, a PE ratio of 27.14, a P/E/G ratio of 1.72 and a beta of 1.26. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91. The firm's 50-day moving average price is $612.33 and its 200 day moving average price is $621.89.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.33 by $1.10. The company had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The company's quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.71 earnings per share. As a group, research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be given a dividend of $0.525 per share. The ex-dividend date is Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.30%. Meta Platforms's dividend payout ratio is currently 8.19%.

Insiders Place Their Bets

In other Meta Platforms news, CTO Andrew Bosworth sold 5,057 shares of Meta Platforms stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $3,334,383.52. Following the completion of the transaction, the chief technology officer now owns 16,463 shares of the company's stock, valued at $10,855,043.68. The trade was a 23.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Javier Olivan sold 517 shares of the company's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $699.27, for a total value of $361,522.59. Following the sale, the chief operating officer now owns 8,887 shares in the company, valued at approximately $6,214,412.49. This represents a 5.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 110,512 shares of company stock worth $73,590,232 over the last 90 days. Corporate insiders own 13.61% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on META. JMP Securities restated a "market outperform" rating and issued a $750.00 target price on shares of Meta Platforms in a report on Wednesday, April 30th. Morgan Stanley lifted their price objective on Meta Platforms from $615.00 to $650.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Benchmark cut their target price on Meta Platforms from $820.00 to $640.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Stifel Nicolaus raised their target price on Meta Platforms from $628.00 to $655.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Finally, Pivotal Research dropped their price target on Meta Platforms from $875.00 to $830.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $710.00.

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.