Meta Platforms, Inc. $META Shares Bought by Clear Creek Financial Management LLC

Clear Creek Financial Management LLC boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 19.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,626 shares of the social networking company’s stock after purchasing an additional 1,232 shares during the quarter. Clear Creek Financial Management LLC’s holdings in Meta Platforms were worth $5,601,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Westchester Capital Management Inc. purchased a new position in Meta Platforms during the third quarter valued at $26,000. Bare Financial Services Inc purchased a new stake in shares of Meta Platforms during the second quarter worth about $30,000. Briaud Financial Planning Inc acquired a new position in shares of Meta Platforms during the 2nd quarter worth about $42,000. Knuff & Co LLC acquired a new position in shares of Meta Platforms during the 2nd quarter worth about $44,000. Finally, WFA Asset Management Corp lifted its stake in Meta Platforms by 42.6% in the 2nd quarter. WFA Asset Management Corp now owns 67 shares of the social networking company’s stock valued at $49,000 after buying an additional 20 shares in the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on META. Zacks Research cut Meta Platforms from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. TD Cowen reissued a “buy” rating on shares of Meta Platforms in a research note on Tuesday, January 13th. Stifel Nicolaus raised their price objective on Meta Platforms from $785.00 to $820.00 and gave the company a “buy” rating in a report on Thursday, January 29th. Guggenheim upped their target price on shares of Meta Platforms from $800.00 to $850.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Meta Platforms from $880.00 to $920.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. Three research analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average target price of $844.44.

View Our Latest Stock Analysis on META

Meta Platforms Trading Up 2.3%

Shares of META opened at $653.69 on Thursday. Meta Platforms, Inc. has a 12-month low of $479.80 and a 12-month high of $796.25. The firm has a market capitalization of $1.65 trillion, a P/E ratio of 27.82, a P/E/G ratio of 1.09 and a beta of 1.28. The firm has a 50-day moving average price of $656.19 and a 200 day moving average price of $687.00. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 0.27.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its earnings results on Wednesday, January 28th. The social networking company reported $8.88 earnings per share for the quarter, beating the consensus estimate of $8.16 by $0.72. The company had revenue of $59.89 billion for the quarter, compared to analyst estimates of $58.33 billion. Meta Platforms had a net margin of 30.08% and a return on equity of 38.61%. Meta Platforms’s revenue was up 23.8% on a year-over-year basis. During the same period in the previous year, the business posted $8.02 EPS. Sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Monday, March 16th will be paid a dividend of $0.525 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $2.10 annualized dividend and a yield of 0.3%. Meta Platforms’s dividend payout ratio (DPR) is 8.94%.

Insiders Place Their Bets

In other news, COO Javier Olivan sold 926 shares of the company’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $652.68, for a total value of $604,381.68. Following the transaction, the chief operating officer owned 17,039 shares of the company’s stock, valued at $11,121,014.52. This represents a 5.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Susan J. Li sold 18,789 shares of the firm’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $650.00, for a total value of $12,212,850.00. Following the sale, the chief financial officer directly owned 68,888 shares of the company’s stock, valued at $44,777,200. The trade was a 21.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 48,135 shares of company stock worth $31,063,415 over the last ninety days. Company insiders own 13.61% of the company’s stock.

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Meta Platforms Profile

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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