CCG Wealth Management LLC Increases Stock Position in Meta Platforms, Inc. (NASDAQ:META)

CCG Wealth Management LLC lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,302 shares of the social networking company’s stock after purchasing an additional 20 shares during the period. Meta Platforms comprises approximately 0.8% of CCG Wealth Management LLC’s holdings, making the stock its 24th biggest holding. CCG Wealth Management LLC’s holdings in Meta Platforms were worth $1,348,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of META. Adamsbrown Wealth Consultants LLC increased its position in Meta Platforms by 1.6% during the fourth quarter. Adamsbrown Wealth Consultants LLC now owns 1,760 shares of the social networking company’s stock worth $1,030,000 after buying an additional 28 shares in the last quarter. Alterna Wealth Management Inc. increased its position in Meta Platforms by 2.8% during the 4th quarter. Alterna Wealth Management Inc. now owns 1,922 shares of the social networking company’s stock worth $1,125,000 after purchasing an additional 53 shares in the last quarter. Horst & Graben Wealth Management LLC raised its stake in Meta Platforms by 68.9% in the 4th quarter. Horst & Graben Wealth Management LLC now owns 968 shares of the social networking company’s stock valued at $567,000 after purchasing an additional 395 shares during the last quarter. CENTRAL TRUST Co lifted its holdings in Meta Platforms by 2.1% in the 4th quarter. CENTRAL TRUST Co now owns 33,122 shares of the social networking company’s stock valued at $19,394,000 after purchasing an additional 686 shares in the last quarter. Finally, Valley National Advisers Inc. boosted its stake in shares of Meta Platforms by 2.5% during the 4th quarter. Valley National Advisers Inc. now owns 8,765 shares of the social networking company’s stock worth $5,131,000 after purchasing an additional 212 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $711.99 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. Meta Platforms, Inc. has a 1 year low of $414.50 and a 1 year high of $718.90. The firm’s 50-day simple moving average is $624.43 and its 200-day simple moving average is $572.13. The firm has a market cap of $1.80 trillion, a PE ratio of 29.77, a price-to-earnings-growth ratio of 1.47 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same quarter in the previous year, the company earned $5.33 EPS. Equities analysts forecast that Meta Platforms, Inc. will post 25.94 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date was Monday, December 16th. Meta Platforms’s dividend payout ratio is presently 8.36%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on META. Oppenheimer boosted their price objective on shares of Meta Platforms from $650.00 to $800.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Bank of America increased their price target on Meta Platforms from $710.00 to $765.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $811.00 price objective on shares of Meta Platforms in a research report on Monday, January 27th. Stifel Nicolaus increased their target price on Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, Scotiabank lifted their price target on Meta Platforms from $583.00 to $627.00 and gave the company a “sector perform” rating in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus target price of $710.83.

Insider Buying and Selling at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $702.24, for a total transaction of $635,527.20. Following the sale, the insider now owns 28,390 shares in the company, valued at $19,936,593.60. This represents a 3.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Aaron Anderson sold 731 shares of Meta Platforms stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $557.00, for a total value of $407,167.00. Following the completion of the transaction, the chief accounting officer now owns 3,414 shares of the company’s stock, valued at approximately $1,901,598. The trade was a 17.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 701,146 shares of company stock worth $435,387,895 over the last 90 days. Insiders own 13.71% of the company’s stock.

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.