Harvest Fund Management Co. Ltd Has $75.60 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Harvest Fund Management Co. Ltd raised its holdings in Meta Platforms, Inc. (NASDAQ:META) by 6.7% in the 4th quarter, HoldingsChannel reports. The firm owned 129,272 shares of the social networking company’s stock after purchasing an additional 8,164 shares during the quarter. Meta Platforms accounts for approximately 3.5% of Harvest Fund Management Co. Ltd’s portfolio, making the stock its 6th largest position. Harvest Fund Management Co. Ltd’s holdings in Meta Platforms were worth $75,598,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of META. JDM Financial Group LLC bought a new position in Meta Platforms in the 3rd quarter valued at $30,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Meta Platforms during the third quarter worth $36,000. Avondale Wealth Management bought a new stake in shares of Meta Platforms during the fourth quarter worth $41,000. Cordant Inc. bought a new stake in shares of Meta Platforms during the fourth quarter worth $59,000. Finally, Bear Mountain Capital Inc. bought a new stake in shares of Meta Platforms during the fourth quarter worth $70,000. Institutional investors own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

META has been the subject of a number of recent research reports. Argus set a $775.00 target price on Meta Platforms in a research report on Tuesday, February 4th. JMP Securities restated a “market outperform” rating and set a $750.00 target price on shares of Meta Platforms in a research report on Monday, January 27th. The Goldman Sachs Group boosted their target price on Meta Platforms from $688.00 to $765.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Jefferies Financial Group boosted their target price on Meta Platforms from $675.00 to $715.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, Mizuho lifted their price objective on Meta Platforms from $675.00 to $750.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average price target of $718.31.

Meta Platforms Stock Performance

META opened at $596.25 on Friday. Meta Platforms, Inc. has a 52-week low of $414.50 and a 52-week high of $740.91. The firm has a market capitalization of $1.51 trillion, a PE ratio of 24.93, a PEG ratio of 1.42 and a beta of 1.23. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The business’s 50-day simple moving average is $655.38 and its 200 day simple moving average is $605.08.

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

Meta Platforms Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be paid a $0.525 dividend. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.10 annualized dividend and a yield of 0.35%. Meta Platforms’s dividend payout ratio is currently 8.78%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 55,589 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $717.72, for a total value of $39,897,337.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Javier Olivan sold 413 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $590.00, for a total value of $243,670.00. Following the completion of the sale, the chief operating officer now owns 17,927 shares in the company, valued at $10,576,930. This represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 622,844 shares of company stock worth $409,212,161 over the last 90 days. Company insiders own 13.71% of the company’s stock.

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.