Creative Capital Management Investments LLC Boosts Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Creative Capital Management Investments LLC lifted its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 852.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,609 shares of the social networking company's stock after purchasing an additional 1,440 shares during the period. Meta Platforms comprises approximately 0.4% of Creative Capital Management Investments LLC's portfolio, making the stock its 18th largest position. Creative Capital Management Investments LLC's holdings in Meta Platforms were worth $927,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of META. Norges Bank acquired a new position in shares of Meta Platforms in the 4th quarter valued at $19,949,512,000. GAMMA Investing LLC raised its stake in Meta Platforms by 67,172.9% during the 1st quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company's stock worth $13,517,178,000 after acquiring an additional 23,417,803 shares in the last quarter. Proficio Capital Partners LLC lifted its position in Meta Platforms by 78,471.1% in the fourth quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company's stock valued at $3,658,713,000 after acquiring an additional 6,240,810 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Meta Platforms in the fourth quarter valued at $2,243,603,000. Finally, Northern Trust Corp grew its holdings in shares of Meta Platforms by 13.5% during the fourth quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company's stock worth $13,727,613,000 after purchasing an additional 2,787,832 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company's stock.

Meta Platforms Price Performance

Shares of NASDAQ META traded down $13.42 on Friday, hitting $682.35. The company's stock had a trading volume of 22,498,010 shares, compared to its average volume of 14,533,861. The stock has a 50 day moving average of $615.32 and a 200-day moving average of $622.60. The company has a market capitalization of $1.72 trillion, a price-to-earnings ratio of 26.61, a price-to-earnings-growth ratio of 1.71 and a beta of 1.26. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating analysts' consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The firm had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. During the same quarter in the prior year, the firm earned $4.71 EPS. Meta Platforms's quarterly revenue was up 16.1% on a year-over-year basis. As a group, research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed 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. This represents a $2.10 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date is Monday, June 16th. Meta Platforms's dividend payout ratio is presently 8.19%.

Insider Buying and Selling at Meta Platforms

In other news, Director Robert M. Kimmitt sold 465 shares of the firm's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $699.27, for a total transaction of $325,160.55. Following the sale, the director now owns 9,807 shares in the company, valued at $6,857,740.89. This trade represents a 4.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark Zuckerberg sold 8,312 shares of Meta Platforms stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $702.13, for a total value of $5,836,104.56. Following the completion of the sale, the chief executive officer now directly owns 88,372 shares of the company's stock, valued at approximately $62,048,632.36. This represents a 8.60% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 110,512 shares of company stock worth $73,590,232. Corporate insiders own 13.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Barclays dropped their price target on Meta Platforms from $705.00 to $640.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. TD Securities decreased their target price on shares of Meta Platforms from $725.00 to $700.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Stifel Nicolaus raised their price target on Meta Platforms from $628.00 to $655.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Wells Fargo & Company reaffirmed an "overweight" rating and set a $664.00 price objective on shares of Meta Platforms in a research note on Tuesday. Finally, Wedbush increased their price objective on Meta Platforms from $680.00 to $750.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $710.00.

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.