Northeast Investment Management Purchases 997 Shares of Meta Platforms, Inc. (NASDAQ:META)

Northeast Investment Management boosted its stake in Meta Platforms, Inc. (NASDAQ:META) by 1.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 98,833 shares of the social networking company’s stock after purchasing an additional 997 shares during the period. Meta Platforms comprises about 2.3% of Northeast Investment Management’s holdings, making the stock its 9th largest holding. Northeast Investment Management’s holdings in Meta Platforms were worth $49,834,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Vantage Financial Partners LLC raised its stake in Meta Platforms by 3.2% during the fourth quarter. Vantage Financial Partners LLC now owns 1,323 shares of the social networking company’s stock worth $468,000 after buying an additional 41 shares during the last quarter. Duff & Phelps Investment Management Co. raised its stake in Meta Platforms by 0.9% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 24,774 shares of the social networking company’s stock worth $8,769,000 after buying an additional 209 shares during the last quarter. Penobscot Investment Management Company Inc. raised its stake in Meta Platforms by 7.8% during the fourth quarter. Penobscot Investment Management Company Inc. now owns 5,400 shares of the social networking company’s stock worth $1,911,000 after buying an additional 390 shares during the last quarter. Savant Capital LLC grew its holdings in Meta Platforms by 16.3% in the fourth quarter. Savant Capital LLC now owns 34,306 shares of the social networking company’s stock worth $12,143,000 after purchasing an additional 4,804 shares during the period. Finally, One Day In July LLC acquired a new stake in Meta Platforms in the fourth quarter worth $205,000. Institutional investors own 79.91% of the company’s stock.

Insider Activity

In related news, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $503.18, for a total value of $8,404,112.36. Following the completion of the transaction, the chief executive officer now directly owns 301,478 shares of the company’s stock, valued at $151,697,700.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CTO Andrew Bosworth sold 5,057 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the transaction, the chief technology officer now directly owns 11,990 shares in the company, valued at approximately $6,315,852.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $503.18, for a total value of $8,404,112.36. Following the completion of the sale, the chief executive officer now owns 301,478 shares in the company, valued at $151,697,700.04. The disclosure for this sale can be found here. Insiders have sold a total of 354,155 shares of company stock worth $183,221,085 over the last quarter. Insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

META has been the subject of a number of analyst reports. Bank of America lifted their price objective on shares of Meta Platforms from $550.00 to $563.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Wolfe Research began coverage on shares of Meta Platforms in a report on Tuesday, July 16th. They set an “outperform” rating and a $620.00 price target on the stock. Loop Capital boosted their price target on shares of Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. BNP Paribas began coverage on shares of Meta Platforms in a report on Thursday, May 2nd. They set an “underperform” rating and a $360.00 price target on the stock. Finally, JMP Securities restated a “market outperform” rating and set a $525.00 price target on shares of Meta Platforms in a report on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-two have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and a consensus target price of $574.41.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $516.78 on Thursday. Meta Platforms, Inc. has a twelve month low of $279.40 and a twelve month high of $544.23. The stock has a market capitalization of $1.31 trillion, a PE ratio of 29.68, a price-to-earnings-growth ratio of 1.27 and a beta of 1.21. The firm’s 50 day moving average price is $503.99 and its 200-day moving average price is $492.19. The company has a quick ratio of 2.68, a current ratio of 2.83 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.46. The firm had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter last year, the business posted $3.23 earnings per share. Equities research analysts expect that Meta Platforms, Inc. will post 20.5 EPS for the current year.

Meta Platforms 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.