Chapin Davis Inc. Has $5.82 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

Chapin Davis Inc. grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,162 shares of the social networking company’s stock after buying an additional 229 shares during the quarter. Meta Platforms accounts for approximately 1.9% of Chapin Davis Inc.’s portfolio, making the stock its 8th largest holding. Chapin Davis Inc.’s holdings in Meta Platforms were worth $5,818,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Capital Research Global Investors grew its stake in shares of Meta Platforms by 14.5% in the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock worth $16,799,612,000 after purchasing an additional 4,379,826 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Meta Platforms by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock worth $65,960,215,000 after buying an additional 3,104,550 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of Meta Platforms by 24.7% during the first quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock valued at $6,733,731,000 after acquiring an additional 2,748,620 shares in the last quarter. Sustainable Growth Advisers LP purchased a new stake in Meta Platforms in the second quarter worth $595,152,000. Finally, Global Assets Advisory LLC bought a new stake in Meta Platforms in the first quarter valued at $515,383,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of META opened at $584.78 on Tuesday. The firm has a market capitalization of $1.48 trillion, a P/E ratio of 33.59, a PEG ratio of 1.39 and a beta of 1.22. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $602.95. The business has a fifty day moving average of $527.07 and a 200 day moving average of $502.63.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. During the same period in the previous year, the company posted $3.23 EPS. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 21.36 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.34%. Meta Platforms’s payout ratio is presently 11.49%.

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $578.55, for a total value of $523,587.75. Following the completion of the sale, the insider now directly owns 35,102 shares in the company, valued at $20,308,262.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $578.55, for a total transaction of $523,587.75. Following the completion of the transaction, the insider now directly owns 35,102 shares in the company, valued at approximately $20,308,262.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 14,874 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $503.38, for a total transaction of $7,487,274.12. Following the sale, the chief executive officer now owns 135,442 shares in the company, valued at approximately $68,178,793.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 282,621 shares of company stock worth $148,657,449. Company insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

META has been the subject of several research reports. Wolfe Research initiated coverage on shares of Meta Platforms in a report on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 price objective for the company. TD Cowen raised their price objective on shares of Meta Platforms from $530.00 to $600.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Benchmark reiterated a “hold” rating on shares of Meta Platforms in a report on Thursday, July 25th. Pivotal Research started coverage on Meta Platforms in a research note on Tuesday, October 1st. They issued a “buy” rating and a $780.00 target price for the company. Finally, Rosenblatt Securities upped their price target on Meta Platforms from $643.00 to $811.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $601.08.

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.