Credit Capital Investments LLC Reduces Position in Meta Platforms, Inc. (NASDAQ:META)

Credit Capital Investments LLC lessened its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 25.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,670 shares of the social networking company's stock after selling 1,930 shares during the quarter. Meta Platforms comprises about 5.6% of Credit Capital Investments LLC's investment portfolio, making the stock its 9th biggest position. Credit Capital Investments LLC's holdings in Meta Platforms were worth $3,268,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of META. Brighton Jones LLC raised its holdings in Meta Platforms by 1.7% in the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock worth $20,230,000 after acquiring an additional 570 shares during the period. Revolve Wealth Partners LLC raised its holdings in Meta Platforms by 10.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company's stock worth $5,537,000 after acquiring an additional 875 shares during the period. Bank Pictet & Cie Europe AG raised its holdings in Meta Platforms by 3.5% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 221,459 shares of the social networking company's stock worth $129,666,000 after acquiring an additional 7,587 shares during the period. Highview Capital Management LLC DE raised its holdings in Meta Platforms by 3.7% in the 4th quarter. Highview Capital Management LLC DE now owns 6,189 shares of the social networking company's stock worth $3,624,000 after acquiring an additional 218 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Meta Platforms during the 4th quarter worth about $2,243,603,000. Institutional investors own 79.91% of the company's stock.

Insider Activity at Meta Platforms

In related news, CEO Mark Zuckerberg sold 15,847 shares of the firm's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $768.67, for a total transaction of $12,181,113.49. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Javier Olivan sold 517 shares of the firm's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $760.26, for a total transaction of $393,054.42. Following the sale, the chief operating officer owned 5,268 shares in the company, valued at approximately $4,005,049.68. The trade was a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 260,024 shares of company stock valued at $188,466,159. Insiders own 13.61% of the company's stock.

Meta Platforms Trading Down 1.3%

META opened at $761.83 on Friday. The firm's fifty day moving average is $711.99 and its two-hundred day moving average is $649.96. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.97 and a current ratio of 1.97. The firm has a market cap of $1.92 trillion, a PE ratio of 27.58, a price-to-earnings-growth ratio of 1.60 and a beta of 1.27. Meta Platforms, Inc. has a twelve month low of $479.80 and a twelve month high of $784.75.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its earnings results on Wednesday, July 30th. The social networking company reported $7.14 earnings per share for the quarter, topping the consensus estimate of $5.75 by $1.39. The company had revenue of $47.52 billion for the quarter, compared to analyst estimates of $44.55 billion. Meta Platforms had a net margin of 39.99% and a return on equity of 39.33%. The business's revenue for the quarter was up 21.6% compared to the same quarter last year. During the same period last year, the business posted $5.16 earnings per share. Equities research analysts anticipate 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 was paid on Thursday, June 26th. Investors of record on Monday, June 16th were issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, June 16th. Meta Platforms's dividend payout ratio (DPR) is presently 7.60%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on META. Loop Capital reaffirmed a "buy" rating and set a $980.00 price objective (up previously from $888.00) on shares of Meta Platforms in a research report on Tuesday. DA Davidson upped their price objective on shares of Meta Platforms from $650.00 to $825.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. BMO Capital Markets upped their price objective on shares of Meta Platforms from $610.00 to $710.00 and gave the company a "market perform" rating in a research report on Thursday, July 31st. JPMorgan Chase & Co. upped their price objective on shares of Meta Platforms from $795.00 to $875.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Finally, The Goldman Sachs Group upped their price objective on shares of Meta Platforms from $685.00 to $690.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms presently has an average rating of "Moderate Buy" and a consensus target price of $822.41.

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.

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