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

Northstar Group Inc. boosted its position in Meta Platforms, Inc. (NASDAQ:META) by 0.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 24,659 shares of the social networking company’s stock after purchasing an additional 108 shares during the period. Meta Platforms makes up approximately 2.5% of Northstar Group Inc.’s holdings, making the stock its 9th biggest position. Northstar Group Inc.’s holdings in Meta Platforms were worth $14,116,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Morton Capital Management LLC CA increased its stake in Meta Platforms by 25.0% in the third quarter. Morton Capital Management LLC CA now owns 2,347 shares of the social networking company’s stock valued at $1,343,000 after purchasing an additional 469 shares in the last quarter. Atlas Private Wealth Advisors increased its position in shares of Meta Platforms by 5.7% during the third quarter. Atlas Private Wealth Advisors now owns 3,777 shares of the social networking company’s stock worth $2,164,000 after acquiring an additional 202 shares in the last quarter. Sanibel Captiva Trust Company Inc. increased its position in shares of Meta Platforms by 10.5% during the third quarter. Sanibel Captiva Trust Company Inc. now owns 28,915 shares of the social networking company’s stock worth $16,552,000 after acquiring an additional 2,747 shares in the last quarter. Wedmont Private Capital increased its position in shares of Meta Platforms by 7.9% during the third quarter. Wedmont Private Capital now owns 41,042 shares of the social networking company’s stock worth $24,000,000 after acquiring an additional 3,006 shares in the last quarter. Finally, Marcum Wealth LLC increased its position in shares of Meta Platforms by 3.6% during the third quarter. Marcum Wealth LLC now owns 6,448 shares of the social networking company’s stock worth $3,691,000 after acquiring an additional 225 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on META. Sanford C. Bernstein boosted their price target on shares of Meta Platforms from $565.00 to $575.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. 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. TD Cowen boosted their price target on shares of Meta Platforms from $530.00 to $600.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. DA Davidson began coverage on shares of Meta Platforms in a report on Tuesday, September 10th. They set a “buy” rating and a $600.00 price target on the stock. Finally, Barclays boosted their price target on shares of Meta Platforms from $520.00 to $550.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus price target of $608.58.

Meta Platforms Price Performance

Shares of Meta Platforms stock traded down $1.83 during trading on Thursday, hitting $588.68. 1,018,717 shares of the stock traded hands, compared to its average volume of 15,362,240. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The stock has a market cap of $1.49 trillion, a price-to-earnings ratio of 33.92, a PEG ratio of 1.39 and a beta of 1.22. The firm’s fifty day moving average is $534.36 and its 200-day moving average is $504.36. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $602.95.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. During the same period last year, the company earned $3.23 EPS. Meta Platforms’s revenue for the quarter was up 22.1% compared to the same quarter last year. Research analysts expect that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

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

Insider Buying and Selling

In other Meta Platforms news, CEO Mark Zuckerberg sold 492 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $600.75, for a total value of $295,569.00. Following the completion of the sale, the chief executive officer now owns 518,508 shares in the company, valued at approximately $311,493,681. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 492 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $600.75, for a total value of $295,569.00. Following the completion of the sale, the chief executive officer now owns 518,508 shares in the company, valued at approximately $311,493,681. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $501.42, for a total value of $453,785.10. Following the completion of the transaction, the insider now owns 36,035 shares of the company’s stock, valued at approximately $18,068,669.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 266,412 shares of company stock worth $140,058,708 in the last ninety days. 13.71% of the stock is owned by insiders.

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.