CCM Investment Advisers LLC Has $21.79 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

CCM Investment Advisers LLC trimmed its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 13.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 37,812 shares of the social networking company's stock after selling 6,047 shares during the quarter. Meta Platforms comprises 2.7% of CCM Investment Advisers LLC's portfolio, making the stock its 6th largest position. CCM Investment Advisers LLC's holdings in Meta Platforms were worth $21,793,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of META. Suvretta Capital Management LLC boosted its stake in shares of Meta Platforms by 1.1% in the fourth quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company's stock valued at $99,735,000 after purchasing an additional 1,850 shares during the period. Skye Global Management LP boosted its stake in shares of Meta Platforms by 130.9% in the fourth quarter. Skye Global Management LP now owns 76,200 shares of the social networking company's stock valued at $44,616,000 after purchasing an additional 43,200 shares during the period. Brueske Advisory Services LLC bought a new position in Meta Platforms during the 4th quarter valued at $459,000. Kovitz Investment Group Partners LLC boosted its stake in Meta Platforms by 255.9% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,709,694 shares of the social networking company's stock valued at $1,001,044,000 after acquiring an additional 1,229,350 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its stake in Meta Platforms by 1.7% during the 4th quarter. Fisher Asset Management LLC now owns 6,675,174 shares of the social networking company's stock valued at $3,908,382,000 after acquiring an additional 110,040 shares during the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Price Performance

Shares of NASDAQ:META traded down $10.49 on Friday, hitting $682.87. The stock had a trading volume of 9,259,272 shares, compared to its average volume of 14,521,911. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The firm's 50 day moving average price is $604.07 and its 200-day moving average price is $619.60. The company has a market capitalization of $1.72 trillion, a price-to-earnings ratio of 28.55, a price-to-earnings-growth ratio of 1.42 and a beta of 1.26.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating the consensus estimate of $5.33 by $1.10. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The company had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter in the previous year, the company earned $4.71 EPS. The firm's revenue for the quarter was up 16.1% compared to the same quarter last year. On average, equities research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be given a dividend of $0.525 per share. The ex-dividend date is Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.31%. Meta Platforms's dividend payout ratio (DPR) is 8.19%.

Analysts Set New Price Targets

META has been the topic of a number of research analyst reports. Monness Crespi & Hardt increased their price objective on shares of Meta Platforms from $775.00 to $780.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. JMP Securities reissued a "market outperform" rating and set a $750.00 target price on shares of Meta Platforms in a report on Wednesday, April 30th. Evercore ISI increased their target price on shares of Meta Platforms from $725.00 to $750.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Wells Fargo & Company dropped their target price on shares of Meta Platforms from $752.00 to $664.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Finally, UBS Group increased their target price on shares of Meta Platforms from $650.00 to $683.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms has an average rating of "Moderate Buy" and an average target price of $704.26.

Insider Buying and Selling

In other news, insider Jennifer Newstead sold 921 shares of the company's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $600.25, for a total value of $552,830.25. Following the completion of the sale, the insider now directly owns 32,103 shares of the company's stock, valued at $19,269,825.75. This represents a 2.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Javier Olivan sold 608 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $607.50, for a total value of $369,360.00. Following the completion of the sale, the chief operating officer now directly owns 7,446 shares of the company's stock, valued at approximately $4,523,445. This trade represents a 7.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 86,201 shares of company stock worth $56,377,837 in the last 90 days. Corporate insiders own 13.61% 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.