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

Clear Creek Financial Management LLC increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 11.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Delos Wealth Advisors LLC raised its holdings in shares of Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after buying an additional 58 shares during the last quarter. POM Investment Strategies LLC acquired a new stake in Meta Platforms in the 2nd quarter valued at about $38,000. Ruedi Wealth Management Inc. lifted its position in shares of Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after purchasing an additional 44 shares in the last quarter. Halpern Financial Inc. bought a new stake in shares of Meta Platforms during the third quarter valued at approximately $46,000. Finally, West Financial Advisors LLC acquired a new stake in shares of Meta Platforms in the third quarter valued at approximately $49,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

Shares of META stock opened at $572.43 on Wednesday. Meta Platforms, Inc. has a 12 month low of $313.66 and a 12 month high of $602.95. The company’s fifty day simple moving average is $556.78 and its 200-day simple moving average is $513.67. The firm has a market cap of $1.45 trillion, a PE ratio of 26.96, a P/E/G ratio of 1.26 and a beta of 1.22. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS 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 firm had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Equities research analysts expect that Meta Platforms, Inc. will post 22.44 EPS for the current fiscal year.

Meta Platforms Announces Dividend

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. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on META. Jefferies Financial Group increased their price objective on Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Hsbc Global Res upgraded Meta Platforms to a “hold” rating in a report on Thursday, October 24th. Wedbush reiterated an “outperform” rating and issued a $600.00 price objective on shares of Meta Platforms in a research report on Thursday, September 26th. Tigress Financial upped their target price on shares of Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research report on Friday, August 16th. Finally, Wolfe Research began coverage on shares of Meta Platforms in a research report on Tuesday, July 16th. They set an “outperform” rating and a $620.00 price target for the company. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $634.10.

Insider Buying and Selling at Meta Platforms

In other news, COO Javier Olivan sold 413 shares of the company’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 transaction of $234,410.54. Following the sale, 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 sale was disclosed in a document filed with the SEC, which is available at this link. In related news, COO Javier Olivan sold 413 shares of the business’s stock in a transaction on 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 directly owns 10,294 shares in the company, 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 is accessible through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $532.21, for a total transaction of $481,650.05. Following the completion of the sale, the insider now owns 41,437 shares of the company’s stock, valued at approximately $22,053,185.77. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 243,919 shares of company stock worth $129,296,067 over the last ninety days. 13.71% of the stock is currently owned by corporate insiders.

About Meta Platforms

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.