Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Chilton Capital Management LLC

Chilton Capital Management LLC lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 8.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 110,376 shares of the social networking company’s stock after buying an additional 8,169 shares during the period. Meta Platforms comprises approximately 2.5% of Chilton Capital Management LLC’s investment portfolio, making the stock its 7th biggest position. Chilton Capital Management LLC’s holdings in Meta Platforms were worth $55,654,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of META. Norges Bank acquired a new position in shares of Meta Platforms during the fourth quarter worth $11,285,855,000. Capital Research Global Investors increased its holdings in Meta Platforms by 17.2% in the fourth quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock valued at $10,695,722,000 after purchasing an additional 4,440,229 shares during the period. Concentrum Wealth Management increased its holdings in Meta Platforms by 111.0% in the fourth quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock valued at $2,616,000 after purchasing an additional 3,888,308 shares during the period. Vanguard Group Inc. increased its holdings in Meta Platforms by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock valued at $65,960,215,000 after purchasing an additional 3,104,550 shares during the period. Finally, Jennison Associates LLC increased its holdings in Meta Platforms by 24.7% in 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 purchasing an additional 2,748,620 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $536.92, for a total transaction of $221,747.96. Following the completion of the sale, the chief operating officer now owns 14,424 shares in the company, valued at approximately $7,744,534.08. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $536.92, for a total transaction of $221,747.96. Following the completion of the sale, the chief operating officer now owns 14,424 shares in the company, valued at approximately $7,744,534.08. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $503.18, for a total transaction of $8,404,112.36. Following the sale, the chief executive officer now owns 301,478 shares of the company’s stock, valued at approximately $151,697,700.04. The disclosure for this sale can be found here. Insiders have sold a total of 390,977 shares of company stock valued at $202,384,548 in the last 90 days. 13.71% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Bank of America increased their price objective on Meta Platforms from $550.00 to $563.00 and gave the company a “buy” rating in a report on Thursday, August 1st. BMO Capital Markets restated a “market perform” rating and issued a $450.00 price objective on shares of Meta Platforms in a report on Wednesday, June 12th. Deutsche Bank Aktiengesellschaft increased their price target on Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. increased their price target on Meta Platforms from $480.00 to $610.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Finally, Roth Mkm increased their price target on Meta Platforms from $510.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-three have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average price target of $576.66.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $516.86 on Friday. Meta Platforms, Inc. has a fifty-two week low of $279.40 and a fifty-two week high of $544.23. The stock has a market cap of $1.31 trillion, a price-to-earnings ratio of 29.69, a PEG ratio of 1.29 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The firm’s 50-day simple moving average is $505.26 and its 200 day simple moving average is $493.93.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. During the same quarter last year, the firm earned $3.23 EPS. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. As a group, research analysts anticipate that Meta Platforms, Inc. will post 21.3 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Monday, September 16th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.39%. Meta Platforms’s dividend payout ratio is currently 11.49%.

Meta Platforms Company 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.