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

Chicago Capital LLC cut its holdings in Meta Platforms, Inc. (NASDAQ:META) by 0.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 309,317 shares of the social networking company’s stock after selling 2,063 shares during the quarter. Meta Platforms comprises approximately 4.8% of Chicago Capital LLC’s portfolio, making the stock its largest holding. Chicago Capital LLC’s holdings in Meta Platforms were worth $181,108,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of META. JDM Financial Group LLC acquired a new position in shares of Meta Platforms during the third quarter worth about $30,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Meta Platforms during the third quarter worth about $36,000. Avondale Wealth Management acquired a new position in shares of Meta Platforms during the fourth quarter worth about $41,000. Cordant Inc. acquired a new position in shares of Meta Platforms during the fourth quarter worth about $59,000. Finally, Hoese & Co LLP increased its stake in shares of Meta Platforms by 2,000.0% during the third quarter. Hoese & Co LLP now owns 105 shares of the social networking company’s stock worth $60,000 after acquiring an additional 100 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

META has been the topic of a number of recent analyst reports. Roth Mkm boosted their price target on shares of Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Robert W. Baird boosted their price target on shares of Meta Platforms from $680.00 to $750.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Sanford C. Bernstein upped their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Raymond James restated a “strong-buy” rating and set a $800.00 target price (up from $725.00) on shares of Meta Platforms in a research report on Thursday, January 30th. Finally, Benchmark upgraded shares of Meta Platforms from a “hold” rating to a “buy” rating and set a $820.00 target price on the stock in a research report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average target price of $710.83.

Meta Platforms Stock Performance

NASDAQ:META opened at $714.52 on Friday. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The company has a market cap of $1.80 trillion, a P/E ratio of 29.87, a P/E/G ratio of 1.47 and a beta of 1.20. Meta Platforms, Inc. has a fifty-two week low of $414.50 and a fifty-two week high of $725.01. The firm’s 50 day moving average is $627.23 and its two-hundred day moving average is $573.70.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, topping analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same quarter in the prior year, the company earned $5.33 EPS. Analysts expect that Meta Platforms, Inc. will post 25.94 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.28%. The ex-dividend date was Monday, December 16th. Meta Platforms’s payout ratio is currently 8.36%.

Insider Transactions at Meta Platforms

In related news, CAO Aaron Anderson sold 731 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $557.00, for a total transaction of $407,167.00. Following the completion of the sale, the chief accounting officer now directly owns 3,414 shares of the company’s stock, valued at approximately $1,901,598. This trade represents a 17.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark Zuckerberg sold 35,921 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $607.97, for a total transaction of $21,838,890.37. The disclosure for this sale can be found here. Insiders sold 701,146 shares of company stock valued at $435,387,895 over the last 90 days. Corporate insiders own 13.71% of the company’s stock.

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.