Chapin Davis Inc. Has $5.30 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Chapin Davis Inc. raised its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 23.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,918 shares of the social networking company’s stock after buying an additional 2,091 shares during the period. Meta Platforms comprises approximately 1.9% of Chapin Davis Inc.’s investment portfolio, making the stock its 9th biggest position. Chapin Davis Inc.’s holdings in Meta Platforms were worth $5,302,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Beaird Harris Wealth Management LLC boosted its stake in Meta Platforms by 68.9% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after purchasing an additional 42 shares during the period. Quest Partners LLC purchased a new stake in Meta Platforms in the 4th quarter worth approximately $32,000. Clear Investment Research LLC lifted its position in Meta Platforms by 411.1% in the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after buying an additional 74 shares in the last quarter. Cranbrook Wealth Management LLC lifted its position in Meta Platforms by 80.4% in the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after buying an additional 45 shares in the last quarter. Finally, Gilfoyle & Co LLC purchased a new stake in Meta Platforms in the 4th quarter worth approximately $39,000. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Trading Up 0.1 %

Shares of NASDAQ META opened at $504.68 on Tuesday. Meta Platforms, Inc. has a 1-year low of $274.38 and a 1-year high of $531.49. The company has a market cap of $1.28 trillion, a PE ratio of 28.99, a P/E/G ratio of 1.31 and a beta of 1.21. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The company has a 50-day moving average of $480.46 and a two-hundred day moving average of $456.83.

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

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date was Friday, June 14th. Meta Platforms’s dividend payout ratio is currently 11.49%.

Insider Activity at Meta Platforms

In related news, CEO Mark Zuckerberg sold 2,011 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $500.92, for a total transaction of $1,007,350.12. Following the completion of the transaction, the chief executive officer now owns 318,932 shares in the company, valued at $159,759,417.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, COO Javier Olivan sold 412 shares of the stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $514.41, for a total transaction of $211,936.92. Following the completion of the transaction, the chief operating officer now directly owns 7,207 shares in the company, valued at $3,707,352.87. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 2,011 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $500.92, for a total value of $1,007,350.12. Following the completion of the sale, the chief executive officer now owns 318,932 shares in the company, valued at approximately $159,759,417.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 218,086 shares of company stock worth $106,423,370. 13.71% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Rosenblatt Securities raised their price target on shares of Meta Platforms from $520.00 to $562.00 and gave the company a “buy” rating in a report on Thursday, April 25th. TD Cowen cut their price target on shares of Meta Platforms from $590.00 to $530.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. JMP Securities restated a “market outperform” rating and set a $550.00 price target on shares of Meta Platforms in a report on Monday, April 22nd. Loop Capital dropped their target price on shares of Meta Platforms from $555.00 to $550.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Finally, Wedbush dropped their target price on shares of Meta Platforms from $570.00 to $480.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.