Clear Creek Financial Management LLC Buys 384 Shares of Meta Platforms, Inc. (NASDAQ:META)

Clear Creek Financial Management LLC grew its stake in Meta Platforms, Inc. (NASDAQ:META) by 11.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 3,633 shares of the social networking company’s stock after acquiring an additional 384 shares during the period. Clear Creek Financial Management LLC’s holdings in Meta Platforms were worth $2,080,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of META. Princeton Global Asset Management LLC increased its stake in shares of Meta Platforms by 6,612.5% during the third quarter. Princeton Global Asset Management LLC now owns 537 shares of the social networking company’s stock worth $307,000 after purchasing an additional 529 shares during the period. Argonautica Private Wealth Management Inc. grew its holdings in Meta Platforms by 1.4% in the 3rd quarter. Argonautica Private Wealth Management Inc. now owns 10,597 shares of the social networking company’s stock valued at $6,066,000 after buying an additional 143 shares in the last quarter. Stevens Capital Partners bought a new position in Meta Platforms during the 3rd quarter worth $287,000. Sollinda Capital Management LLC lifted its holdings in shares of Meta Platforms by 14.4% during the third quarter. Sollinda Capital Management LLC now owns 674 shares of the social networking company’s stock worth $386,000 after buying an additional 85 shares in the last quarter. Finally, Visionary Horizons LLC bought a new stake in shares of Meta Platforms in the third quarter valued at about $332,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Buying and Selling

In other Meta Platforms news, COO Javier Olivan sold 413 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $567.58, for a total value of $234,410.54. Following the transaction, the chief operating officer now directly owns 10,294 shares of the company’s stock, valued at approximately $5,842,668.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $507.63, for a total value of $459,405.15. Following the completion of the sale, the insider now directly owns 37,817 shares of the company’s stock, valued at approximately $19,197,043.71. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Javier Olivan sold 413 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $567.58, for a total transaction of $234,410.54. Following the transaction, the chief operating officer now owns 10,294 shares in the company, valued at $5,842,668.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 243,919 shares of company stock valued at $129,296,067 over the last 90 days. Company insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on META. Royal Bank of Canada reiterated an “outperform” rating and issued a $570.00 price objective on shares of Meta Platforms in a research note on Thursday, August 1st. TD Cowen boosted their price target on Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. JMP Securities raised their price objective on Meta Platforms from $635.00 to $660.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 31st. Sanford C. Bernstein lifted their price objective on Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $811.00 price target on shares of Meta Platforms in a research report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $634.10.

Meta Platforms Stock Performance

NASDAQ:META opened at $572.43 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. Meta Platforms, Inc. has a fifty-two week low of $313.66 and a fifty-two week high of $602.95. The company has a 50 day simple moving average of $556.78 and a two-hundred day simple moving average of $513.67. The company has a market capitalization of $1.45 trillion, a PE ratio of 26.96, a P/E/G ratio of 1.26 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data 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 analysts’ expectations of $40.21 billion. Research analysts anticipate that Meta Platforms, Inc. will post 22.44 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

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.