CCM Investment Advisers LLC Has $25.65 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

CCM Investment Advisers LLC decreased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 0.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 44,812 shares of the social networking company’s stock after selling 207 shares during the quarter. Meta Platforms accounts for approximately 2.9% of CCM Investment Advisers LLC’s holdings, making the stock its 5th largest position. CCM Investment Advisers LLC’s holdings in Meta Platforms were worth $25,652,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Delos Wealth Advisors LLC lifted its holdings in shares of Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after purchasing an additional 58 shares during the last quarter. POM Investment Strategies LLC acquired a new position in shares of Meta Platforms during the 2nd quarter valued at about $38,000. Ruedi Wealth Management Inc. increased its holdings in shares of Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after acquiring an additional 44 shares during the last quarter. Richardson Financial Services Inc. increased its holdings in shares of Meta Platforms by 95.6% during the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after acquiring an additional 43 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. bought a new stake in Meta Platforms during the 1st quarter valued at approximately $44,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Price Performance

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

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share 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 analyst estimates of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter last year, the company earned $3.23 earnings per share. On average, analysts anticipate 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 given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio is currently 10.21%.

Insider Buying and Selling

In related news, CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the sale, the chief technology officer now owns 11,990 shares of the company’s stock, valued at $6,315,852.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $589.89, for a total value of $533,850.45. Following the sale, the insider now owns 34,197 shares of the company’s stock, valued at approximately $20,172,468.33. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Andrew Bosworth sold 5,057 shares of the firm’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 $2,663,825.32. Following the completion of the sale, the chief technology officer now directly owns 11,990 shares in the company, valued at approximately $6,315,852.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 252,443 shares of company stock valued at $133,105,284 over the last 90 days. 13.71% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on META shares. Bank of America increased their target price on Meta Platforms from $563.00 to $630.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Oppenheimer raised their price target on Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Wells Fargo & Company raised their price target on Meta Platforms from $647.00 to $652.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. The Goldman Sachs Group raised their price target on Meta Platforms from $522.00 to $555.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Susquehanna lifted their target price on Meta Platforms from $550.00 to $600.00 and gave the company a “positive” rating in a research note on Thursday, August 1st. Two research 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 company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.