Harbour Investments Inc. Buys 287 Shares of Meta Platforms, Inc. (NASDAQ:META)

Harbour Investments Inc. raised its holdings in Meta Platforms, Inc. (NASDAQ:META) by 2.8% in the second quarter, HoldingsChannel.com reports. The firm owned 10,698 shares of the social networking company’s stock after purchasing an additional 287 shares during the quarter. Harbour Investments Inc.’s holdings in Meta Platforms were worth $5,394,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in META. Quest Partners LLC bought a new position in Meta Platforms during the fourth quarter worth $32,000. Clear Investment Research LLC grew its stake in shares of Meta Platforms by 411.1% in the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after acquiring an additional 74 shares in the last quarter. Delos Wealth Advisors LLC lifted its position in shares of Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after buying an additional 58 shares in the last quarter. POM Investment Strategies LLC purchased a new position in Meta Platforms in the second quarter worth $38,000. Finally, Ruedi Wealth Management Inc. grew its position in Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after buying an additional 44 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

META has been the subject of a number of recent analyst reports. Piper Sandler lifted their target price on Meta Platforms from $545.00 to $575.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Citigroup increased their price target on shares of Meta Platforms from $550.00 to $580.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. JMP Securities restated a “market outperform” rating and issued a $525.00 price objective on shares of Meta Platforms in a report on Tuesday, July 30th. Oppenheimer increased their price target on shares of Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Finally, Guggenheim boosted their target price on shares of Meta Platforms from $500.00 to $600.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, thirty-three have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $574.41.

Insider Activity

In related news, CEO Mark Zuckerberg sold 2,011 shares of the company’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 transaction, the chief executive officer now directly owns 318,932 shares in the company, valued at $159,759,417.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $536.92, for a total transaction of $221,747.96. Following the completion of the transaction, the chief operating officer now owns 14,424 shares of the company’s stock, valued at $7,744,534.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark Zuckerberg sold 2,011 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $500.92, for a total transaction of $1,007,350.12. Following the transaction, the chief executive officer now owns 318,932 shares in the company, valued at approximately $159,759,417.44. The disclosure for this sale can be found here. Insiders sold a total of 329,890 shares of company stock valued at $170,604,385 in the last quarter. Company insiders own 13.71% of the company’s stock.

Meta Platforms Trading Down 0.5 %

META traded down $2.62 during mid-day trading on Wednesday, reaching $516.48. The stock had a trading volume of 4,510,297 shares, compared to its average volume of 16,051,157. The firm’s fifty day simple moving average is $503.64 and its two-hundred day simple moving average is $492.02. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $544.23. The stock has a market capitalization of $1.31 trillion, a P/E ratio of 29.81, a P/E/G ratio of 1.27 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.83.

Meta Platforms (NASDAQ:META) last announced 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. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. During the same period last year, the firm posted $3.23 earnings per share. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. On average, equities analysts predict that Meta Platforms, Inc. will post 20.5 EPS for the current year.

Meta Platforms Announces Dividend

The business 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 annualized dividend and a dividend yield of 0.39%. The ex-dividend date was Friday, June 14th. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

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.