Cherry Creek Investment Advisors Inc. Sells 51 Shares of Meta Platforms, Inc. (NASDAQ:META)

Cherry Creek Investment Advisors Inc. lowered its stake in Meta Platforms, Inc. (NASDAQ:META) by 3.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,287 shares of the social networking company’s stock after selling 51 shares during the quarter. Cherry Creek Investment Advisors Inc.’s holdings in Meta Platforms were worth $754,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in META. Creekside Partners acquired a new position in Meta Platforms in the 2nd quarter worth about $327,000. Heritage Wealth Management Inc. bought a new stake in shares of Meta Platforms during the second quarter worth about $213,000. Anchor Investment Management LLC raised its holdings in Meta Platforms by 0.4% in the 2nd quarter. Anchor Investment Management LLC now owns 20,112 shares of the social networking company’s stock valued at $10,141,000 after buying an additional 83 shares during the last quarter. Centaurus Financial Inc. boosted its position in Meta Platforms by 75.1% during the 2nd quarter. Centaurus Financial Inc. now owns 23,244 shares of the social networking company’s stock worth $11,720,000 after buying an additional 9,972 shares during the period. Finally, Greater Midwest Financial Group LLC bought a new stake in Meta Platforms during the 2nd quarter worth approximately $2,925,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

Shares of META stock opened at $687.00 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The firm has a 50-day moving average of $611.00 and a 200-day moving average of $564.44. Meta Platforms, Inc. has a one year low of $387.10 and a one year high of $710.79. The company has a market cap of $1.73 trillion, a P/E ratio of 32.36, a P/E/G ratio of 1.18 and a beta of 1.19.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating the consensus estimate of $6.75 by $1.27. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. During the same period last year, the business posted $5.33 earnings per share. Equities research analysts forecast that Meta Platforms, Inc. will post 22.96 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were given a $0.50 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.00 annualized dividend and a yield of 0.29%. Meta Platforms’s dividend payout ratio is currently 9.42%.

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 35,921 shares of the stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $673.57, for a total transaction of $24,195,307.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Aaron Anderson sold 731 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $557.00, for a total transaction of $407,167.00. Following the sale, the chief accounting officer now owns 3,414 shares of the company’s stock, valued at approximately $1,901,598. The trade was a 17.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 661,804 shares of company stock worth $407,745,741 in the last quarter. 13.71% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on META. The Goldman Sachs Group raised their price target on shares of Meta Platforms from $688.00 to $765.00 and gave the company a “buy” rating in a research note on Thursday. Guggenheim lifted their target price on Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Jefferies Financial Group increased their price target on Meta Platforms from $675.00 to $715.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $811.00 price objective on shares of Meta Platforms in a research note on Monday. Finally, Wolfe Research increased their target price on shares of Meta Platforms from $670.00 to $730.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and an average target price of $706.76.

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.