Harbour Trust & Investment Management Co Buys 1,433 Shares of Meta Platforms, Inc. (NASDAQ:META)

Harbour Trust & Investment Management Co raised its stake in Meta Platforms, Inc. (NASDAQ:META) by 13.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,938 shares of the social networking company’s stock after buying an additional 1,433 shares during the period. Harbour Trust & Investment Management Co’s holdings in Meta Platforms were worth $6,990,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. JDM Financial Group LLC bought a new stake in shares of Meta Platforms during the 3rd quarter valued at about $30,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Meta Platforms during the 3rd quarter valued at about $36,000. Avondale Wealth Management bought a new stake in shares of Meta Platforms during the 4th quarter valued at about $41,000. Cordant Inc. bought a new stake in shares of Meta Platforms during the 4th quarter valued at about $59,000. Finally, Reston Wealth Management LLC bought a new stake in shares of Meta Platforms during the 3rd quarter valued at about $61,000. Institutional investors own 79.91% of the company’s stock.

Insider Activity

In other news, CFO Susan J. Li sold 18,644 shares of Meta Platforms stock in a transaction on Monday, November 18th. The stock was sold at an average price of $553.55, for a total value of $10,320,386.20. Following the completion of the transaction, the chief financial officer now directly owns 46,769 shares in the company, valued at approximately $25,888,979.95. The trade was a 28.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Javier Olivan sold 413 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $562.77, for a total value of $232,424.01. Following the transaction, the chief operating officer now owns 19,579 shares of the company’s stock, valued at approximately $11,018,473.83. The trade was a 2.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 793,070 shares of company stock worth $504,185,108. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Price Performance

Meta Platforms stock opened at $736.67 on Friday. The firm has a market capitalization of $1.87 trillion, a P/E ratio of 30.80, a PEG ratio of 1.46 and a beta of 1.20. Meta Platforms, Inc. has a one year low of $414.50 and a one year high of $740.91. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The business has a fifty day moving average price of $638.73 and a 200-day moving average price of $583.52.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share 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 in the previous year, the firm earned $5.33 earnings per share. As a group, equities research analysts forecast that Meta Platforms, Inc. will post 26.66 EPS for the current year.

Meta Platforms Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be given a $0.525 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a dividend yield of 0.29%. Meta Platforms’s payout ratio is 8.36%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. The Goldman Sachs Group increased their price target on Meta Platforms from $688.00 to $765.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Roth Mkm increased their price target on Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Mizuho increased their price target on Meta Platforms from $675.00 to $750.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Pivotal Research increased their price target on Meta Platforms from $800.00 to $875.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, Oppenheimer increased their price target on Meta Platforms from $650.00 to $800.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $717.90.

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.