Harbor Capital Advisors Inc. Buys 267 Shares of Meta Platforms, Inc. (NASDAQ:META)

Harbor Capital Advisors Inc. boosted its position in Meta Platforms, Inc. (NASDAQ:META) by 1.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 24,451 shares of the social networking company’s stock after acquiring an additional 267 shares during the quarter. Meta Platforms comprises approximately 0.6% of Harbor Capital Advisors Inc.’s portfolio, making the stock its 25th largest holding. Harbor Capital Advisors Inc.’s holdings in Meta Platforms were worth $13,997,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in META. Delos Wealth Advisors LLC lifted its stake in shares of Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after buying an additional 58 shares in the last quarter. POM Investment Strategies LLC bought a new position in Meta Platforms in the 2nd quarter valued at about $38,000. Ruedi Wealth Management Inc. boosted its stake in 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 purchasing an additional 44 shares during the last quarter. Halpern Financial Inc. bought a new stake in Meta Platforms during the 3rd quarter worth approximately $46,000. Finally, West Financial Advisors LLC purchased a new stake in shares of Meta Platforms in the third quarter worth approximately $49,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

META has been the topic of several analyst reports. The Goldman Sachs Group lifted their target price on Meta Platforms from $555.00 to $636.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Wedbush reiterated an “outperform” rating and issued a $600.00 target price on shares of Meta Platforms in a research note on Thursday, September 26th. Susquehanna raised their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “positive” rating in a research report on Thursday, October 31st. Monness Crespi & Hardt upped their price objective on shares of Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $670.00 price objective on shares of Meta Platforms in a research note on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $634.10.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total transaction of $17,101,342.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Meta Platforms news, CFO Susan J. Li sold 8,950 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $4,714,502.00. Following the completion of the sale, the chief financial officer now owns 74,579 shares of the company’s stock, valued at $39,285,234.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Susan J. Li sold 33,018 shares of Meta Platforms stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total transaction of $17,101,342.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 243,919 shares of company stock valued at $129,296,067. Insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $572.43 on Wednesday. The stock’s 50-day simple moving average is $556.78 and its two-hundred day simple moving average is $513.67. Meta Platforms, Inc. has a twelve month low of $313.66 and a twelve month high of $602.95. The firm has a market capitalization of $1.45 trillion, a P/E ratio of 26.96, a P/E/G ratio of 1.26 and a beta of 1.22. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The company had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 22.44 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is currently 9.42%.

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.