CCM Investment Advisers LLC Sells 207 Shares of Meta Platforms, Inc. (NASDAQ:META)

CCM Investment Advisers LLC decreased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 44,812 shares of the social networking company’s stock after selling 207 shares during the period. Meta Platforms comprises approximately 2.9% of CCM Investment Advisers LLC’s portfolio, making the stock its 5th largest holding. CCM Investment Advisers LLC’s holdings in Meta Platforms were worth $25,652,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Baird Financial Group Inc. raised its position in Meta Platforms by 24.2% during the 4th quarter. Baird Financial Group Inc. now owns 835,972 shares of the social networking company’s stock worth $295,901,000 after purchasing an additional 163,067 shares during the last quarter. Gradient Investments LLC raised its position in Meta Platforms by 8.9% during the 2nd quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company’s stock worth $36,600,000 after purchasing an additional 5,953 shares during the last quarter. Baillie Gifford & Co. raised its position in shares of Meta Platforms by 14.0% in the 1st quarter. Baillie Gifford & Co. now owns 6,101,501 shares of the social networking company’s stock worth $2,962,767,000 after acquiring an additional 748,076 shares in the last quarter. ERn Financial LLC raised its position in shares of Meta Platforms by 59.0% in the 1st quarter. ERn Financial LLC now owns 1,652 shares of the social networking company’s stock worth $802,000 after acquiring an additional 613 shares in the last quarter. Finally, Stanley Laman Group Ltd. raised its position in shares of Meta Platforms by 26.5% in the 2nd quarter. Stanley Laman Group Ltd. now owns 1,678 shares of the social networking company’s stock worth $846,000 after acquiring an additional 352 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Meta Platforms Trading Down 1.1 %

NASDAQ:META opened at $583.83 on Friday. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $1.48 trillion, a PE ratio of 29.80, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. The firm’s 50 day moving average is $536.08 and its 200 day moving average is $504.92. Meta Platforms, Inc. has a 12 month low of $279.40 and a 12 month high of $602.95.

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

Meta Platforms Dividend Announcement

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

Insider Buying and Selling

In other Meta Platforms news, CFO Susan J. Li sold 8,950 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the sale, the chief financial officer now owns 74,579 shares of the company’s stock, valued at $39,285,234.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Susan J. Li sold 8,950 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $4,714,502.00. Following the transaction, the chief financial officer now owns 74,579 shares of the company’s stock, valued at approximately $39,285,234.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $589.89, for a total transaction of $533,850.45. Following the completion of the transaction, the insider now directly owns 34,197 shares in the company, valued at approximately $20,172,468.33. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 252,443 shares of company stock valued at $133,105,284. 13.71% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on META. Wedbush reissued an “outperform” rating and issued a $600.00 price objective on shares of Meta Platforms in a research report on Thursday, September 26th. Loop Capital lifted their price objective on Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. The Goldman Sachs Group lifted their price objective on Meta Platforms from $522.00 to $555.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. TD Securities lifted their price objective on Meta Platforms from $530.00 to $600.00 in a research report on Wednesday, July 10th. Finally, Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research report on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $608.00.

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.