Chickasaw Capital Management LLC Acquires 295 Shares of Meta Platforms, Inc. (NASDAQ:META)

Chickasaw Capital Management LLC lifted its stake in Meta Platforms, Inc. (NASDAQ:META) by 4.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,278 shares of the social networking company’s stock after acquiring an additional 295 shares during the period. Chickasaw Capital Management LLC’s holdings in Meta Platforms were worth $3,594,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Delos Wealth Advisors LLC increased its stake in Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after acquiring an additional 58 shares during the last quarter. POM Investment Strategies LLC bought a new position in Meta Platforms in the second quarter valued at $38,000. Ruedi Wealth Management Inc. raised its position in Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 44 shares in the last quarter. Richardson Financial Services Inc. lifted its stake in Meta Platforms by 95.6% during the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after purchasing an additional 43 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. purchased a new position in shares of Meta Platforms in the 1st quarter worth about $44,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on META shares. Sanford C. Bernstein upped their target price on Meta Platforms from $565.00 to $575.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. TD Cowen boosted their price target on shares of Meta Platforms from $530.00 to $600.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a research report on Wednesday, September 4th. Bank of America boosted their target price on Meta Platforms from $563.00 to $630.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, Benchmark restated a “hold” rating on shares of Meta Platforms in a report on Thursday, July 25th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $609.71.

Insider Buying and Selling

In other news, CFO Susan J. Li sold 33,018 shares of Meta Platforms stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Susan J. Li sold 33,018 shares of Meta Platforms stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total value of $17,101,342.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 901 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $451.15, for a total value of $406,486.15. Following the completion of the transaction, the insider now directly owns 33,324 shares in the company, valued at approximately $15,034,122.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 252,443 shares of company stock worth $133,105,284. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Stock Up 1.0 %

Shares of NASDAQ:META traded up $6.12 on Friday, hitting $589.95. 8,587,051 shares of the company traded hands, compared to its average volume of 15,361,877. The company has a market cap of $1.49 trillion, a PE ratio of 30.11, a PEG ratio of 1.45 and a beta of 1.22. The stock has a 50 day simple moving average of $538.12 and a 200-day simple moving average of $505.52. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $602.95. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.46. The firm had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business’s revenue was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.23 earnings per share. As a group, research analysts expect that Meta Platforms, Inc. will post 21.37 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.34%. Meta Platforms’s dividend payout ratio (DPR) is presently 10.21%.

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.