Harbour Capital Advisors LLC Acquires 113 Shares of Meta Platforms, Inc. (NASDAQ:META)

Harbour Capital Advisors LLC lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,837 shares of the social networking company’s stock after purchasing an additional 113 shares during the quarter. Harbour Capital Advisors LLC’s holdings in Meta Platforms were worth $3,898,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. S.A. Mason LLC raised its holdings in Meta Platforms by 1.5% in the first quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock valued at $645,000 after acquiring an additional 20 shares in the last quarter. LongView Wealth Management raised its holdings in Meta Platforms by 1.3% in the first quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock valued at $856,000 after acquiring an additional 22 shares in the last quarter. Madison Wealth Partners Inc raised its holdings in Meta Platforms by 1.6% in the fourth quarter. Madison Wealth Partners Inc now owns 1,417 shares of the social networking company’s stock valued at $502,000 after acquiring an additional 23 shares in the last quarter. Henrickson Nauta Wealth Advisors Inc. increased its stake in Meta Platforms by 1.9% in the first quarter. Henrickson Nauta Wealth Advisors Inc. now owns 1,247 shares of the social networking company’s stock valued at $648,000 after purchasing an additional 23 shares during the last quarter. Finally, Monterey Private Wealth Inc. increased its stake in Meta Platforms by 1.8% in the first quarter. Monterey Private Wealth Inc. now owns 1,379 shares of the social networking company’s stock valued at $670,000 after purchasing an additional 24 shares during the last quarter. 79.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on META. BNP Paribas began coverage on shares of Meta Platforms in a research note on Thursday, May 2nd. They issued an “underperform” rating and a $360.00 price target on the stock. Benchmark reiterated a “hold” rating on shares of Meta Platforms in a research note on Monday, April 22nd. Jefferies Financial Group dropped their price target on shares of Meta Platforms from $585.00 to $540.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Truist Financial dropped their price target on shares of Meta Platforms from $550.00 to $535.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Finally, Guggenheim dropped their price target on shares of Meta Platforms from $520.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $510.05.

Insider Activity

In other news, COO Javier Olivan sold 490 shares of Meta Platforms stock in a transaction on Monday, April 1st. The stock was sold at an average price of $486.75, for a total transaction of $238,507.50. Following the transaction, the chief operating officer now directly owns 8,559 shares in the company, valued at approximately $4,166,093.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, COO Javier Olivan sold 490 shares of Meta Platforms stock in a transaction on Monday, April 1st. The stock was sold at an average price of $486.75, for a total value of $238,507.50. Following the transaction, the chief operating officer now directly owns 8,559 shares in the company, valued at approximately $4,166,093.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Andrew Bosworth sold 5,058 shares of Meta Platforms stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total value of $2,386,617.30. Following the completion of the transaction, the chief technology officer now owns 15,412 shares in the company, valued at $7,272,152.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 233,512 shares of company stock worth $113,597,536. 13.71% of the stock is owned by company insiders.

Meta Platforms Stock Down 3.0 %

Shares of Meta Platforms stock opened at $504.22 on Friday. The business’s fifty day moving average price is $480.00 and its two-hundred day moving average price is $453.93. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. The company has a market capitalization of $1.28 trillion, a P/E ratio of 28.96, a PEG ratio of 1.35 and a beta of 1.21. Meta Platforms, Inc. has a 1-year low of $274.38 and a 1-year high of $531.49.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.32 by $0.39. The firm had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. As a group, research analysts forecast that Meta Platforms, Inc. will post 20.16 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders 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 0.40%. The ex-dividend date was Friday, June 14th. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

About Meta Platforms

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.