Meta Platforms, Inc. (NASDAQ:META) Stock Holdings Raised by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC raised its stake in Meta Platforms, Inc. (NASDAQ:META) by 1.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 7,535 shares of the social networking company’s stock after purchasing an additional 140 shares during the period. Clear Harbor Asset Management LLC’s holdings in Meta Platforms were worth $4,313,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Delos Wealth Advisors LLC boosted its holdings in shares of Meta Platforms by 527.3% in the 1st 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 during the period. POM Investment Strategies LLC acquired a new position in Meta Platforms during 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 period. Halpern Financial Inc. acquired a new position in Meta Platforms during the 3rd quarter valued at about $46,000. Finally, West Financial Advisors LLC acquired a new position in Meta Platforms during the 3rd quarter valued at about $49,000. Institutional investors own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In related news, CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $2,663,825.32. Following the sale, the chief technology officer now directly owns 11,990 shares in the company, valued at $6,315,852.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CTO Andrew Bosworth sold 5,057 shares of Meta Platforms stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $2,663,825.32. Following the sale, the chief technology officer now directly owns 11,990 shares in the company, valued at $6,315,852.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 shares were 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. Insiders have sold 251,230 shares of company stock worth $132,784,843 in the last ninety days. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Up 2.6 %

Shares of NASDAQ META opened at $593.28 on Wednesday. The firm has a market capitalization of $1.50 trillion, a PE ratio of 34.08, a price-to-earnings-growth ratio of 1.42 and a beta of 1.22. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 1 year low of $296.86 and a 1 year high of $602.95. The firm’s 50-day moving average is $553.36 and its 200-day moving average is $511.61.

Meta Platforms (NASDAQ:META) last issued its earnings results 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 company had revenue of $39.07 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm earned $3.23 EPS. Equities analysts expect that Meta Platforms, Inc. will post 21.44 EPS for the current year.

Meta Platforms Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on META shares. Tigress Financial upped their price target on shares of Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 16th. Mizuho boosted their target price on shares of Meta Platforms from $600.00 to $650.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Guggenheim boosted their target price on shares of Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Piper Sandler boosted their target price on shares of Meta Platforms from $545.00 to $575.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Finally, Roth Mkm boosted their target price on shares of Meta Platforms from $550.00 to $620.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $621.63.

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.