Chatham Capital Group Inc. Has $3.45 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

Chatham Capital Group Inc. grew its stake in Meta Platforms, Inc. (NASDAQ:META) by 0.3% during the first quarter, HoldingsChannel reports. The firm owned 5,989 shares of the social networking company’s stock after buying an additional 19 shares during the quarter. Chatham Capital Group Inc.’s holdings in Meta Platforms were worth $3,452,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Meta Platforms during the fourth quarter worth about $19,949,512,000. GAMMA Investing LLC increased its holdings in Meta Platforms by 67,172.9% in the first quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company’s stock worth $13,517,178,000 after purchasing an additional 23,417,803 shares in the last quarter. Proficio Capital Partners LLC lifted its stake in Meta Platforms by 78,471.1% in the fourth quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company’s stock valued at $3,658,713,000 after buying an additional 6,240,810 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Meta Platforms during the 4th quarter worth approximately $2,243,603,000. Finally, Northern Trust Corp raised its holdings in shares of Meta Platforms by 13.5% during the fourth quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company’s stock valued at $13,727,613,000 after purchasing an additional 2,787,832 shares during the period. 79.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Wedbush raised their price objective on Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. Tigress Financial reissued a “strong-buy” rating on shares of Meta Platforms in a research report on Tuesday, February 11th. Barclays lowered their price objective on shares of Meta Platforms from $705.00 to $640.00 and set an “overweight” rating on the stock in a report on Thursday, May 1st. Raymond James reduced their price objective on shares of Meta Platforms from $800.00 to $750.00 and set a “strong-buy” rating for the company in a report on Thursday, May 1st. Finally, Jefferies Financial Group lowered their target price on shares of Meta Platforms from $725.00 to $600.00 and set a “buy” rating on the stock in a report on Monday, April 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $702.48.

Meta Platforms Stock Up 3.2%

META stock opened at $687.95 on Thursday. The company’s 50 day moving average is $583.27 and its 200 day moving average is $613.00. The stock has a market cap of $1.73 trillion, a price-to-earnings ratio of 28.76, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. 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 1-year low of $442.65 and a 1-year high of $740.91.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping analysts’ consensus estimates of $5.33 by $1.10. The firm had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.71 EPS. Sell-side analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be paid a $0.525 dividend. The ex-dividend date is Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.31%. Meta Platforms’s dividend payout ratio is presently 8.19%.

Insider Activity at Meta Platforms

In related news, CFO Susan J. Li sold 6,874 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total value of $4,532,440.64. Following the completion of the sale, the chief financial officer now owns 70,040 shares in the company, valued at $46,181,574.40. The trade was a 8.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Andrew Bosworth sold 5,057 shares of the company’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total value of $3,334,383.52. Following the completion of the sale, the chief technology officer now directly owns 16,463 shares of the company’s stock, valued at approximately $10,855,043.68. This represents a 23.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,652 shares of company stock valued at $34,815,208 over the last 90 days. 13.61% of the stock is owned by insiders.

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.