CCG Wealth Management LLC Takes $2.04 Million Position in Meta Platforms, Inc. (NASDAQ:META)

CCG Wealth Management LLC bought a new stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 4,200 shares of the social networking company's stock, valued at approximately $2,039,000. Meta Platforms accounts for 1.2% of CCG Wealth Management LLC's investment portfolio, making the stock its 16th largest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Beaird Harris Wealth Management LLC raised its holdings in shares of Meta Platforms by 68.9% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company's stock worth $31,000 after purchasing an additional 42 shares in the last quarter. Quest Partners LLC bought a new stake in shares of Meta Platforms in the 4th quarter worth approximately $32,000. Clear Investment Research LLC raised its holdings in shares of Meta Platforms by 411.1% in the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company's stock worth $33,000 after purchasing an additional 74 shares in the last quarter. Cranbrook Wealth Management LLC raised its holdings in shares of Meta Platforms by 80.4% in the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company's stock worth $36,000 after purchasing an additional 45 shares in the last quarter. Finally, Gilfoyle & Co LLC bought a new stake in shares of Meta Platforms in the 4th quarter worth approximately $39,000. 79.91% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Sheryl Sandberg sold 105,000 shares of the firm's stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $476.71, for a total value of $50,054,550.00. Following the completion of the transaction, the director now directly owns 630,293 shares of the company's stock, valued at $300,466,976.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Meta Platforms news, CFO Susan J. Li sold 8,951 shares of Meta Platforms stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total transaction of $4,223,529.35. Following the completion of the transaction, the chief financial officer now directly owns 74,580 shares of the company's stock, valued at $35,190,573. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Sheryl Sandberg sold 105,000 shares of Meta Platforms stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total transaction of $50,054,550.00. Following the transaction, the director now directly owns 630,293 shares of the company's stock, valued at $300,466,976.03. The disclosure for this sale can be found here. Insiders have sold 218,086 shares of company stock worth $106,423,370 over the last ninety days. Insiders own 13.71% of the company's stock.

Meta Platforms Stock Up 1.0 %

META stock traded up $4.82 during mid-day trading on Tuesday, hitting $509.50. 7,729,334 shares of the company were exchanged, compared to its average volume of 16,327,128. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. The firm has a market cap of $1.29 trillion, a P/E ratio of 29.26, a P/E/G ratio of 1.31 and a beta of 1.21. The firm's 50 day simple moving average is $480.72 and its 200 day simple moving average is $458.05. Meta Platforms, Inc. has a 1-year low of $274.38 and a 1-year high of $531.49.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.32 by $0.39. The firm had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. On average, sell-side analysts predict that Meta Platforms, Inc. will post 20.16 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were issued a $0.50 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.39%. Meta Platforms's dividend payout ratio (DPR) is presently 11.49%.

Wall Street Analysts Forecast Growth

META has been the topic of a number of research analyst reports. Oppenheimer lowered their price objective on shares of Meta Platforms from $585.00 to $500.00 and set an "outperform" rating on the stock in a research report on Thursday, April 25th. Jefferies Financial Group decreased their price objective on shares of Meta Platforms from $585.00 to $540.00 and set a "buy" rating for the company in a report on Thursday, April 25th. Roth Mkm upped their price objective on shares of Meta Platforms from $500.00 to $510.00 and gave the stock a "buy" rating in a report on Thursday, April 25th. Raymond James upped their price objective on shares of Meta Platforms from $550.00 to $600.00 and gave the stock a "strong-buy" rating in a report on Monday. Finally, Wells Fargo & Company cut their target price on shares of Meta Platforms from $609.00 to $600.00 and set an "overweight" rating for the company in a research note on Wednesday, April 3rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $511.27.

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.