Northstar Group Inc. Acquires 108 Shares of Meta Platforms, Inc. (NASDAQ:META)

Northstar Group Inc. lifted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 0.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,659 shares of the social networking company’s stock after acquiring an additional 108 shares during the quarter. Meta Platforms makes up approximately 2.5% of Northstar Group Inc.’s holdings, making the stock its 9th largest holding. Northstar Group Inc.’s holdings in Meta Platforms were worth $14,116,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of META. Delos Wealth Advisors LLC lifted its holdings in 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 acquired a new position in Meta Platforms during the 2nd quarter worth $38,000. Ruedi Wealth Management Inc. raised its position in shares of Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after acquiring an additional 44 shares during the last quarter. Richardson Financial Services Inc. raised its position in shares of Meta Platforms by 95.6% during the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after acquiring an additional 43 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. bought a new stake in shares of Meta Platforms during the 1st quarter valued at $44,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on META shares. KeyCorp upped their price objective on shares of Meta Platforms from $560.00 to $655.00 and gave the company an “overweight” rating in a research report on Wednesday. Wolfe Research started coverage on shares of Meta Platforms in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 price objective for the company. BMO Capital Markets upped their price objective 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. Royal Bank of Canada restated an “outperform” rating and issued a $570.00 price objective on shares of Meta Platforms in a research report on Thursday, August 1st. Finally, Citigroup upped their price objective on shares of Meta Platforms from $580.00 to $645.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $608.58.

Meta Platforms Price Performance

NASDAQ:META traded down $1.83 during mid-day trading on Thursday, reaching $588.68. The stock had a trading volume of 1,018,717 shares, compared to its average volume of 15,362,240. The stock has a 50-day simple moving average of $534.36 and a two-hundred day simple moving average of $504.36. The stock has a market capitalization of $1.49 trillion, a PE ratio of 33.92, a P/E/G ratio of 1.39 and a beta of 1.22. 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 12 month low of $279.40 and a 12 month high of $602.95.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating 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 firm had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. During the same quarter last year, the business posted $3.23 earnings per share. The company’s quarterly revenue was up 22.1% on a year-over-year basis. On average, equities analysts anticipate that Meta Platforms, Inc. will post 21.36 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were given a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.34%. Meta Platforms’s dividend payout ratio is currently 11.49%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 14,874 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $503.38, for a total value of $7,487,274.12. Following the sale, the chief executive officer now owns 135,442 shares in the company, valued at $68,178,793.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $501.42, for a total transaction of $453,785.10. Following the transaction, the insider now owns 36,035 shares in the company, valued at approximately $18,068,669.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 14,874 shares of Meta Platforms stock in a transaction on Friday, July 12th. The stock was sold at an average price of $503.38, for a total transaction of $7,487,274.12. Following the transaction, the chief executive officer now owns 135,442 shares in the company, valued at approximately $68,178,793.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 266,412 shares of company stock worth $140,058,708 over the last quarter. Corporate insiders own 13.71% of the company’s stock.

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.