Meta Platforms, Inc. (NASDAQ:META) Position Decreased by CCM Investment Advisers LLC

CCM Investment Advisers LLC reduced its position in Meta Platforms, Inc. (NASDAQ:META) by 2.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,859 shares of the social networking company’s stock after selling 953 shares during the quarter. Meta Platforms accounts for about 2.8% of CCM Investment Advisers LLC’s holdings, making the stock its 7th largest holding. CCM Investment Advisers LLC’s holdings in Meta Platforms were worth $25,680,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of META. JDM Financial Group LLC purchased a new stake in Meta Platforms during the 3rd quarter valued at about $30,000. Safe Harbor Fiduciary LLC bought a new stake in Meta Platforms in the third quarter valued at approximately $36,000. Avondale Wealth Management purchased a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $41,000. Halpern Financial Inc. bought a new position in shares of Meta Platforms in the third quarter worth approximately $46,000. Finally, West Financial Advisors LLC purchased a new position in shares of Meta Platforms in the third quarter worth $49,000. 79.91% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Aaron Anderson sold 731 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $557.00, for a total value of $407,167.00. Following the transaction, the chief accounting officer now directly owns 3,414 shares in the company, valued at approximately $1,901,598. This represents a 17.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 84 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $600.00, for a total transaction of $50,400.00. Following the transaction, the chief executive officer now directly owns 518,424 shares in the company, valued at approximately $311,054,400. This trade represents a 0.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 410,536 shares of company stock valued at $249,024,275 over the last ninety days. 13.71% of the stock is owned by insiders.

Meta Platforms Price Performance

Shares of Meta Platforms stock traded down $0.53 during trading on Friday, reaching $610.19. 8,416,818 shares of the stock traded hands, compared to its average volume of 11,469,159. Meta Platforms, Inc. has a 52-week low of $358.61 and a 52-week high of $638.40. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The business has a fifty day simple moving average of $592.65 and a two-hundred day simple moving average of $552.16. The company has a market capitalization of $1.54 trillion, a price-to-earnings ratio of 28.74, a P/E/G ratio of 1.36 and a beta of 1.19.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The business had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Sell-side analysts expect that Meta Platforms, Inc. will post 22.68 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 annualized dividend and a yield of 0.33%. Meta Platforms’s dividend payout ratio is currently 9.42%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on META shares. UBS Group increased their price target on shares of Meta Platforms from $690.00 to $719.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Bank of America raised their target price on Meta Platforms from $630.00 to $660.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Roth Mkm upped their price target on Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Pivotal Research increased their price objective on Meta Platforms from $780.00 to $800.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, TD Cowen lifted their price target 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 assigned a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $646.90.

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.