Harmony Asset Management LLC Has $819,000 Holdings in Meta Platforms, Inc. (NASDAQ:META)

Harmony Asset Management LLC grew its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 55.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,624 shares of the social networking company’s stock after acquiring an additional 582 shares during the quarter. Harmony Asset Management LLC’s holdings in Meta Platforms were worth $819,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Baird Financial Group Inc. raised its holdings in Meta Platforms by 24.2% during the fourth quarter. Baird Financial Group Inc. now owns 835,972 shares of the social networking company’s stock worth $295,901,000 after buying an additional 163,067 shares during the last quarter. California State Teachers Retirement System lifted its position in Meta Platforms by 1.5% in the 4th quarter. California State Teachers Retirement System now owns 3,576,285 shares of the social networking company’s stock valued at $1,265,862,000 after acquiring an additional 51,900 shares in the last quarter. Voyager Global Management LP raised its stake in shares of Meta Platforms by 37.3% in the fourth quarter. Voyager Global Management LP now owns 515,000 shares of the social networking company’s stock worth $182,289,000 after purchasing an additional 140,000 shares during the last quarter. Gradient Investments LLC grew its holdings in Meta Platforms by 8.9% during the second quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company’s stock worth $36,600,000 after buying an additional 5,953 shares in the last quarter. Finally, Baillie Gifford & Co. raised its position in Meta Platforms by 14.0% in the 1st quarter. Baillie Gifford & Co. now owns 6,101,501 shares of the social networking company’s stock valued at $2,962,767,000 after buying an additional 748,076 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $500.57, for a total transaction of $453,015.85. Following the completion of the sale, the insider now directly owns 37,845 shares in the company, valued at $18,944,071.65. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Mark Zuckerberg sold 150 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.49, for a total transaction of $75,073.50. Following the transaction, the chief executive officer now directly owns 124,387 shares in the company, valued at approximately $62,254,449.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $500.57, for a total value of $453,015.85. Following the completion of the sale, the insider now directly owns 37,845 shares of the company’s stock, valued at approximately $18,944,071.65. The disclosure for this sale can be found here. Over the last three months, insiders have sold 349,472 shares of company stock worth $182,544,600. Insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on META shares. Loop Capital upped their target price on shares of Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Sanford C. Bernstein increased their price objective on shares of Meta Platforms from $565.00 to $575.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Morgan Stanley boosted their target price on Meta Platforms from $550.00 to $575.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. The Goldman Sachs Group increased their price target on Meta Platforms from $522.00 to $555.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Barclays boosted their price objective on Meta Platforms from $520.00 to $550.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-four have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $578.92.

Meta Platforms Stock Performance

NASDAQ META opened at $563.33 on Wednesday. The company’s 50 day simple moving average is $510.42 and its two-hundred day simple moving average is $498.05. The stock has a market capitalization of $1.43 trillion, a PE ratio of 32.36, a P/E/G ratio of 1.26 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. Meta Platforms, Inc. has a 1 year low of $279.40 and a 1 year high of $573.98.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. During the same quarter last year, the business posted $3.23 earnings per share. The firm’s revenue was up 22.1% compared to the same quarter last year. Analysts predict that Meta Platforms, Inc. will post 21.36 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.36%. The ex-dividend date is Monday, September 16th. Meta Platforms’s payout ratio 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.