Creekmur Asset Management LLC Invests $228,000 in Meta Platforms, Inc. (NASDAQ:META)

Creekmur Asset Management LLC acquired a new stake in Meta Platforms, Inc. (NASDAQ:META) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 643 shares of the social networking company’s stock, valued at approximately $228,000.

Several other large investors also recently modified their holdings of META. Fiera Capital Corp grew its position in Meta Platforms by 3.0% during the 3rd quarter. Fiera Capital Corp now owns 6,928 shares of the social networking company’s stock worth $2,080,000 after acquiring an additional 203 shares during the last quarter. Kesler Norman & Wride LLC acquired a new stake in shares of Meta Platforms in the third quarter valued at $224,000. Financial Engines Advisors L.L.C. raised its holdings in shares of Meta Platforms by 10.8% in the third quarter. Financial Engines Advisors L.L.C. now owns 14,904 shares of the social networking company’s stock valued at $4,474,000 after buying an additional 1,451 shares during the last quarter. QRG Capital Management Inc. bought a new stake in Meta Platforms during the 3rd quarter worth about $103,924,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new stake in Meta Platforms in the 3rd quarter valued at about $41,128,000. 79.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Meta Platforms

In related news, CEO Mark Zuckerberg sold 31,493 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $500.32, for a total transaction of $15,756,577.76. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Jennifer Newstead sold 585 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $488.50, for a total value of $285,772.50. Following the completion of the sale, the insider now directly owns 40,153 shares in the company, valued at $19,614,740.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 31,493 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $500.32, for a total value of $15,756,577.76. The disclosure for this sale can be found here. Insiders have sold 437,528 shares of company stock worth $215,768,262 over the last quarter. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Meta Platforms stock traded up $0.56 during mid-day trading on Friday, reaching $504.16. 10,243,347 shares of the company were exchanged, compared to its average volume of 10,607,878. The company has a fifty day simple moving average of $480.39 and a 200-day simple moving average of $441.54. The firm has a market cap of $1.28 trillion, a PE ratio of 28.96, a PEG ratio of 1.31 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. Meta Platforms, Inc. has a 12 month low of $271.42 and a 12 month high of $531.49.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.32 by $0.39. The business had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. As a group, equities research analysts expect that Meta Platforms, Inc. will post 20.16 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Friday, June 14th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.40%. The ex-dividend date is Friday, June 14th. Meta Platforms’s payout ratio is 11.49%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on META shares. Truist Financial decreased their price objective on Meta Platforms from $550.00 to $535.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. TD Cowen reduced their price target on Meta Platforms from $590.00 to $530.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Barclays decreased their price objective on shares of Meta Platforms from $550.00 to $520.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. Sanford C. Bernstein lowered their price target on Meta Platforms from $590.00 to $565.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $450.00 price objective on shares of Meta Platforms in a research report on Wednesday. Two analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $510.41.

Meta Platforms 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.