Meta Platforms, Inc. (NASDAQ:META) is CCM Investment Advisers LLC’s 7th Largest Position

CCM Investment Advisers LLC decreased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 2.1% in the fourth quarter, HoldingsChannel.com reports. 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 biggest holding. CCM Investment Advisers LLC’s holdings in Meta Platforms were worth $25,680,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the stock. JDM Financial Group LLC purchased a new stake in shares of Meta Platforms during the 3rd quarter worth $30,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Meta Platforms during the third quarter valued at about $36,000. Avondale Wealth Management bought a new stake in shares of Meta Platforms in the 4th quarter valued at about $41,000. Halpern Financial Inc. purchased a new position in shares of Meta Platforms in the 3rd quarter worth approximately $46,000. Finally, West Financial Advisors LLC bought a new position in shares of Meta Platforms during the 3rd quarter worth approximately $49,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

META has been the topic of several analyst reports. The Goldman Sachs Group lifted their price target on shares of Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Roth Mkm increased their price target on Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Wedbush increased their price objective on shares of Meta Platforms from $640.00 to $680.00 and gave the company an “outperform” rating in a research report on Monday. JMP Securities raised their price target on shares of Meta Platforms from $660.00 to $750.00 and gave the stock a “market outperform” rating in a report on Thursday, January 2nd. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $670.00 target price on shares of Meta Platforms in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus target price of $646.90.

Meta Platforms Trading Down 0.1 %

Shares of META stock traded down $0.53 during trading on Friday, hitting $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 firm has a market capitalization of $1.54 trillion, a P/E ratio of 28.74, a price-to-earnings-growth ratio of 1.36 and a beta of 1.19. The firm’s fifty day moving average price is $592.65 and its 200-day moving average price is $552.16. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The company had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. As a group, research analysts forecast that Meta Platforms, Inc. will post 22.68 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

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

Insider Transactions at Meta Platforms

In related news, CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $577.16, for a total value of $2,918,698.12. Following the transaction, the chief technology officer now owns 8,565 shares of the company’s stock, valued at $4,943,375.40. This represents a 37.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Aaron Anderson sold 731 shares of the 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 completion of the transaction, the chief accounting officer now owns 3,414 shares in the company, valued at approximately $1,901,598. The trade was a 17.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 410,536 shares of company stock valued at $249,024,275. 13.71% of the stock is currently owned by corporate insiders.

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.