Chapin Davis Inc. Buys 2,091 Shares of Meta Platforms, Inc. (NASDAQ:META)

Chapin Davis Inc. increased its stake in Meta Platforms, Inc. (NASDAQ:META) by 23.7% during the first quarter, Holdings Channel.com reports. The fund owned 10,918 shares of the social networking company’s stock after buying an additional 2,091 shares during the period. Meta Platforms makes up about 1.9% of Chapin Davis Inc.’s portfolio, making the stock its 9th biggest position. Chapin Davis Inc.’s holdings in Meta Platforms were worth $5,302,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in META. Pettinga Financial Advisors LLC bought a new stake in Meta Platforms in the first quarter worth approximately $249,000. MorganRosel Wealth Management LLC bought a new stake in Meta Platforms in the first quarter worth approximately $234,000. LVW Advisors LLC increased its holdings in Meta Platforms by 13.2% in the first quarter. LVW Advisors LLC now owns 7,164 shares of the social networking company’s stock worth $3,479,000 after purchasing an additional 834 shares in the last quarter. Roberts Wealth Advisors LLC bought a new stake in shares of Meta Platforms during the first quarter valued at approximately $308,000. Finally, Breakwater Capital Group increased its holdings in shares of Meta Platforms by 4.9% during the first quarter. Breakwater Capital Group now owns 2,629 shares of the social networking company’s stock valued at $1,277,000 after acquiring an additional 122 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $514.96, for a total transaction of $8,600,861.92. Following the completion of the transaction, the chief executive officer now owns 213,007 shares of the company’s stock, valued at approximately $109,690,084.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Meta Platforms news, Director Sheryl Sandberg sold 105,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total transaction of $50,054,550.00. Following the transaction, the director now owns 630,293 shares in the company, valued at approximately $300,466,976.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $514.96, for a total value of $8,600,861.92. Following the transaction, the chief executive officer now owns 213,007 shares in the company, valued at approximately $109,690,084.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 218,086 shares of company stock valued at $106,423,370. Insiders own 13.71% of the company’s stock.

Meta Platforms Trading Up 0.1 %

Shares of META stock opened at $504.68 on Tuesday. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The business has a 50-day moving average price of $480.46 and a two-hundred day moving average price of $456.83. Meta Platforms, Inc. has a 12-month low of $274.38 and a 12-month high of $531.49. The firm has a market cap of $1.28 trillion, a P/E ratio of 28.99, a price-to-earnings-growth ratio of 1.31 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The company had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. Equities analysts anticipate that Meta Platforms, Inc. will post 20.16 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date was Friday, June 14th. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Wall Street Analyst Weigh In

Several research firms have recently commented on META. Wedbush decreased their price objective on Meta Platforms from $570.00 to $480.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Royal Bank of Canada decreased their price objective on Meta Platforms from $600.00 to $570.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. BNP Paribas assumed coverage on Meta Platforms in a report on Thursday, May 2nd. They set an “underperform” rating and a $360.00 price target for the company. Canaccord Genuity Group decreased their price target on Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Finally, Roth Mkm increased their price target on shares of Meta Platforms from $500.00 to $510.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $511.27.

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.