CCG Wealth Management LLC Purchases Shares of 4,200 Meta Platforms, Inc. (NASDAQ:META)

CCG Wealth Management LLC acquired a new position in Meta Platforms, Inc. (NASDAQ:META) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,200 shares of the social networking company’s stock, valued at approximately $2,039,000. Meta Platforms comprises 1.2% of CCG Wealth Management LLC’s investment portfolio, making the stock its 16th biggest holding.

Other large investors also recently modified their holdings of the company. Norges Bank purchased a new stake in Meta Platforms in the 4th quarter valued at $11,285,855,000. International Assets Investment Management LLC lifted its position in shares of Meta Platforms by 11,154.4% during the fourth quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company’s stock valued at $1,752,900,000 after purchasing an additional 4,908,251 shares in the last quarter. Capital Research Global Investors lifted its position in shares of Meta Platforms by 17.2% during the fourth quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock valued at $10,695,722,000 after purchasing an additional 4,440,229 shares in the last quarter. Concentrum Wealth Management boosted its holdings in Meta Platforms by 111.0% during the fourth quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after purchasing an additional 3,888,308 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Meta Platforms by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock worth $65,960,215,000 after purchasing an additional 3,104,550 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on META shares. JPMorgan Chase & Co. cut their target price on Meta Platforms from $535.00 to $480.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. Wells Fargo & Company reduced their price objective on Meta Platforms from $609.00 to $600.00 and set an “overweight” rating for the company in a research note on Wednesday, April 3rd. KeyCorp lifted their target price on Meta Platforms from $475.00 to $540.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. UBS Group reduced their price target on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Finally, Wolfe Research lowered their price objective on shares of Meta Platforms from $530.00 to $500.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $511.27.

Insiders Place Their Bets

In other news, Director Sheryl Sandberg sold 105,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total transaction of $50,054,550.00. Following the transaction, the director now directly owns 630,293 shares of the company’s stock, valued at $300,466,976.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Meta Platforms news, CEO Mark Zuckerberg sold 2,011 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $500.92, for a total value of $1,007,350.12. Following the completion of the sale, the chief executive officer now directly owns 318,932 shares in the company, valued at $159,759,417.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sheryl Sandberg sold 105,000 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total value of $50,054,550.00. Following the completion of the transaction, the director now directly owns 630,293 shares of the company’s stock, valued at approximately $300,466,976.03. The disclosure for this sale can be found here. In the last 90 days, insiders sold 218,086 shares of company stock worth $106,423,370. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Stock Up 0.1 %

Shares of NASDAQ META opened at $504.68 on Tuesday. The firm’s fifty day moving average is $480.46 and its 200 day moving average is $456.83. Meta Platforms, Inc. has a 52 week low of $274.38 and a 52 week high of $531.49. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The company has a market cap of $1.28 trillion, a price-to-earnings ratio of 28.99, a PEG ratio of 1.31 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. The firm had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. On average, equities research analysts expect that Meta Platforms, Inc. will post 20.16 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date was Friday, June 14th. Meta Platforms’s payout ratio is 11.49%.

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.