Clear Creek Financial Management LLC Acquires 783 Shares of Meta Platforms, Inc. (NASDAQ:META)

Clear Creek Financial Management LLC raised its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 20.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,616 shares of the social networking company's stock after acquiring an additional 783 shares during the quarter. Clear Creek Financial Management LLC's holdings in Meta Platforms were worth $2,660,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of META. Inlight Wealth Management LLC bought a new position in shares of Meta Platforms during the first quarter worth approximately $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Meta Platforms during the first quarter worth approximately $28,000. Millstone Evans Group LLC bought a new position in shares of Meta Platforms during the fourth quarter worth approximately $40,000. WealthTrak Capital Management LLC bought a new position in shares of Meta Platforms during the fourth quarter worth approximately $43,000. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Meta Platforms during the fourth quarter worth approximately $45,000. 79.91% of the stock is owned by institutional investors.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 2,361 shares of Meta Platforms stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $716.48, for a total value of $1,691,609.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 519 shares of Meta Platforms stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $737.00, for a total transaction of $382,503.00. Following the completion of the sale, the insider directly owned 27,626 shares of the company's stock, valued at approximately $20,360,362. This trade represents a 1.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 154,285 shares of company stock valued at $105,518,153. Corporate insiders own 13.61% of the company's stock.

Meta Platforms Trading Up 0.5%

META stock traded up $3.34 during midday trading on Friday, hitting $716.91. The stock had a trading volume of 8,601,653 shares, compared to its average volume of 14,544,817. The firm has a market cap of $1.80 trillion, a P/E ratio of 27.96, a price-to-earnings-growth ratio of 1.76 and a beta of 1.28. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $747.90. The business has a fifty day moving average price of $658.89 and a two-hundred day moving average price of $630.04.

Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.33 by $1.10. The business had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. Meta Platforms's revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.71 earnings per share. On average, sell-side analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were paid a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.29%. The ex-dividend date was Monday, June 16th. Meta Platforms's dividend payout ratio (DPR) is currently 8.19%.

Analysts Set New Price Targets

Several brokerages have recently commented on META. Benchmark lowered their target price on shares of Meta Platforms from $820.00 to $640.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Barclays decreased their price objective on shares of Meta Platforms from $705.00 to $640.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Scotiabank decreased their price objective on shares of Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating on the stock in a research note on Monday, April 21st. JMP Securities restated a "market outperform" rating and issued a $750.00 target price on shares of Meta Platforms in a research report on Wednesday, April 30th. Finally, Jefferies Financial Group cut their target price on shares of Meta Platforms from $725.00 to $600.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Five analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $719.29.

Meta Platforms 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.