Choreo LLC Has $50.23 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Choreo LLC cut its position in Meta Platforms, Inc. (NASDAQ:META) by 3.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,195 shares of the social networking company’s stock after selling 3,416 shares during the period. Choreo LLC’s holdings in Meta Platforms were worth $50,231,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Stephens Consulting LLC raised its holdings in shares of Meta Platforms by 5.3% in the 4th quarter. Stephens Consulting LLC now owns 317 shares of the social networking company’s stock worth $186,000 after purchasing an additional 16 shares during the period. Lindenwold Advisors INC raised its holdings in shares of Meta Platforms by 0.3% in the 3rd quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock worth $3,388,000 after purchasing an additional 17 shares during the period. Insight Wealth Strategies LLC raised its holdings in shares of Meta Platforms by 1.6% in the 4th quarter. Insight Wealth Strategies LLC now owns 1,067 shares of the social networking company’s stock worth $625,000 after purchasing an additional 17 shares during the period. Steigerwald Gordon & Koch Inc. raised its holdings in shares of Meta Platforms by 0.6% in the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 2,680 shares of the social networking company’s stock worth $1,569,000 after purchasing an additional 17 shares during the period. Finally, Cherrydale Wealth Management LLC raised its holdings in shares of Meta Platforms by 0.5% in the 3rd quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after purchasing an additional 18 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on META. Barclays boosted their target price on shares of Meta Platforms from $630.00 to $705.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Hsbc Global Res raised shares of Meta Platforms to a “hold” rating in a report on Thursday, October 24th. Cantor Fitzgerald boosted their target price on shares of Meta Platforms from $720.00 to $790.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Monness Crespi & Hardt boosted their target price on shares of Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, TD Cowen boosted their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $710.83.

Meta Platforms Stock Performance

Shares of NASDAQ:META opened at $717.40 on Tuesday. The company has a market cap of $1.82 trillion, a price-to-earnings ratio of 29.99, a price-to-earnings-growth ratio of 1.46 and a beta of 1.20. The company has a 50-day moving average price of $629.73 and a 200-day moving average price of $576.95. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 12 month low of $414.50 and a 12 month high of $725.01.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating the consensus estimate 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 business earned $5.33 earnings per share. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 26.66 EPS for the current year.

Meta Platforms Announces Dividend

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

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 905 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $702.24, for a total value of $635,527.20. Following the completion of the transaction, the insider now directly owns 28,390 shares of the company’s stock, valued at $19,936,593.60. This represents a 3.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark Zuckerberg sold 55,589 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $717.72, for a total transaction of $39,897,337.08. The disclosure for this sale can be found here. Insiders sold a total of 756,735 shares of company stock valued at $475,285,232 over the last three months. Corporate insiders own 13.71% of the company’s stock.

About Meta Platforms

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.