Cherry Creek Investment Advisors Inc. Has $766,000 Position in Meta Platforms, Inc. (NASDAQ:META)

Cherry Creek Investment Advisors Inc. grew its stake in Meta Platforms, Inc. (NASDAQ:META) by 12.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,338 shares of the social networking company’s stock after purchasing an additional 147 shares during the quarter. Cherry Creek Investment Advisors Inc.’s holdings in Meta Platforms were worth $766,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Romano Brothers AND Company increased its stake in shares of Meta Platforms by 11.0% during the third quarter. Romano Brothers AND Company now owns 3,346 shares of the social networking company’s stock worth $1,915,000 after purchasing an additional 331 shares during the period. Patrick M Sweeney & Associates Inc. increased its position in Meta Platforms by 7.9% during the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 1,476 shares of the social networking company’s stock worth $845,000 after buying an additional 108 shares during the period. Great Lakes Retirement Inc. lifted its holdings in shares of Meta Platforms by 47.3% during the third quarter. Great Lakes Retirement Inc. now owns 8,961 shares of the social networking company’s stock worth $5,130,000 after buying an additional 2,879 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Meta Platforms by 57,001.5% during the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after buying an additional 9,500,444 shares in the last quarter. Finally, Axecap Investments LLC bought a new stake in shares of Meta Platforms in the third quarter valued at about $2,834,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insiders Place Their Bets

In related news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $574.70, for a total transaction of $520,103.50. Following the transaction, the insider now owns 32,387 shares in the company, valued at $18,612,808.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $574.70, for a total value of $520,103.50. Following the completion of the sale, the insider now directly owns 32,387 shares of the company’s stock, valued at approximately $18,612,808.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Susan J. Li sold 8,950 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the transaction, the chief financial officer now directly owns 74,579 shares in the company, valued at $39,285,234.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 250,817 shares of company stock worth $132,547,715. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Trading Up 1.0 %

META opened at $573.25 on Friday. Meta Platforms, Inc. has a twelve month low of $279.40 and a twelve month high of $602.95. The company has a fifty day moving average of $551.05 and a 200-day moving average of $510.76. The stock has a market cap of $1.45 trillion, a PE ratio of 32.93, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The firm had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business’s revenue was up 22.1% compared to the same quarter last year. During the same period last year, the business posted $3.23 EPS. On average, sell-side analysts predict that Meta Platforms, Inc. will post 21.37 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on META. JMP Securities lifted their price objective on shares of Meta Platforms from $550.00 to $635.00 and gave the stock a “market outperform” rating in a research note on Thursday, September 26th. BMO Capital Markets lifted their price target on shares of Meta Platforms from $475.00 to $525.00 and gave the company a “market perform” rating in a research report on Wednesday, October 9th. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research report on Wednesday, September 4th. Loop Capital lifted their price objective on Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Finally, Roth Mkm increased their target price on Meta Platforms from $550.00 to $620.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $621.63.

Meta Platforms Company 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.