Harbour Investments Inc. Buys 523 Shares of Meta Platforms, Inc. (NASDAQ:META)

Harbour Investments Inc. increased its stake in Meta Platforms, Inc. (NASDAQ:META) by 5.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,050 shares of the social networking company’s stock after acquiring an additional 523 shares during the quarter. Harbour Investments Inc.’s holdings in Meta Platforms were worth $6,470,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of META. Howard Capital Management Group LLC increased its stake in Meta Platforms by 17.9% during the 3rd quarter. Howard Capital Management Group LLC now owns 1,652 shares of the social networking company’s stock valued at $946,000 after purchasing an additional 251 shares in the last quarter. Principal Financial Group Inc. increased its stake in Meta Platforms by 6.5% during the 3rd quarter. Principal Financial Group Inc. now owns 3,368,361 shares of the social networking company’s stock valued at $1,928,185,000 after purchasing an additional 204,412 shares in the last quarter. United Bank increased its stake in Meta Platforms by 22.2% during the 3rd quarter. United Bank now owns 5,569 shares of the social networking company’s stock valued at $3,188,000 after purchasing an additional 1,011 shares in the last quarter. 1776 Wealth LLC bought a new stake in Meta Platforms during the 3rd quarter valued at $282,000. Finally, Turtle Creek Wealth Advisors LLC grew its stake in shares of Meta Platforms by 1.9% in the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 13,431 shares of the social networking company’s stock worth $7,688,000 after acquiring an additional 249 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on META. KeyCorp reduced their target price on shares of Meta Platforms from $750.00 to $710.00 and set an “overweight” rating for the company in a research note on Tuesday. The Goldman Sachs Group upped their target price on shares of Meta Platforms from $688.00 to $765.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Cantor Fitzgerald upped their target price on shares of Meta Platforms from $720.00 to $790.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. DA Davidson upped their target price on shares of Meta Platforms from $700.00 to $800.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $811.00 target price on shares of Meta Platforms in a research note on Monday, January 27th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average price target of $718.31.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 10,100 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $601.54, for a total transaction of $6,075,554.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Javier Olivan sold 4,706 shares of the stock in a transaction that occurred on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total transaction of $3,466,769.02. Following the transaction, the chief operating officer now owns 20,935 shares in the company, valued at $15,422,186.45. The trade was a 18.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 632,023 shares of company stock worth $414,734,884 over the last ninety days. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Up 0.3 %

META stock opened at $584.06 on Thursday. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The company’s 50 day moving average is $656.27 and its 200 day moving average is $604.69. The stock has a market cap of $1.48 trillion, a price-to-earnings ratio of 24.42, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23. Meta Platforms, Inc. has a 1-year low of $414.50 and a 1-year high of $740.91.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, topping the consensus estimate of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same period in the previous year, the business earned $5.33 EPS. Sell-side analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be given a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.36%. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, March 14th. Meta Platforms’s dividend payout ratio is 8.78%.

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.