Harbour Capital Advisors LLC Purchases 167 Shares of Meta Platforms, Inc. (NASDAQ:META)

Harbour Capital Advisors LLC increased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,027 shares of the social networking company’s stock after acquiring an additional 167 shares during the period. Meta Platforms makes up about 1.1% of Harbour Capital Advisors LLC’s holdings, making the stock its 23rd biggest position. Harbour Capital Advisors LLC’s holdings in Meta Platforms were worth $4,853,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of META. Forza Wealth Management LLC raised its position in Meta Platforms by 4.8% during the fourth quarter. Forza Wealth Management LLC now owns 392 shares of the social networking company’s stock valued at $230,000 after purchasing an additional 18 shares in the last quarter. Accelerate Investment Advisors LLC raised its stake in shares of Meta Platforms by 6.9% during the fourth quarter. Accelerate Investment Advisors LLC now owns 1,491 shares of the social networking company’s stock worth $873,000 after acquiring an additional 96 shares in the last quarter. Cooper Financial Group boosted its stake in shares of Meta Platforms by 53.3% in the 4th quarter. Cooper Financial Group now owns 9,095 shares of the social networking company’s stock valued at $5,325,000 after purchasing an additional 3,162 shares in the last quarter. Wedmont Private Capital grew its holdings in shares of Meta Platforms by 5.9% during the 4th quarter. Wedmont Private Capital now owns 43,459 shares of the social networking company’s stock valued at $26,765,000 after purchasing an additional 2,417 shares during the last quarter. Finally, Westmount Partners LLC boosted its position in Meta Platforms by 13.1% during the fourth quarter. Westmount Partners LLC now owns 5,651 shares of the social networking company’s stock valued at $3,309,000 after buying an additional 656 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Trading Down 1.5 %

META traded down $9.00 on Monday, hitting $606.86. The company had a trading volume of 7,746,019 shares, compared to its average volume of 12,499,863. Meta Platforms, Inc. has a 12-month low of $358.61 and a 12-month high of $638.40. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The business’s fifty day simple moving average is $593.63 and its 200 day simple moving average is $553.55. The company has a market cap of $1.53 trillion, a PE ratio of 28.59, a PEG ratio of 1.36 and a beta of 1.19.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The company had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Equities research analysts expect that Meta Platforms, Inc. will post 22.68 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.33%. Meta Platforms’s dividend payout ratio is 9.42%.

Insider Buying and Selling

In other news, CFO Susan J. Li sold 8,951 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $577.16, for a total transaction of $5,166,159.16. Following the transaction, the chief financial officer now owns 51,591 shares in the company, valued at approximately $29,776,261.56. This trade represents a 14.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Aaron Anderson sold 731 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $557.00, for a total transaction of $407,167.00. Following the completion of the sale, the chief accounting officer now directly owns 3,414 shares of the company’s stock, valued at approximately $1,901,598. This trade represents a 17.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 411,357 shares of company stock valued at $249,545,428. Insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on META. KeyCorp lifted their price target on Meta Platforms from $655.00 to $700.00 and gave the stock an “overweight” rating in a research note on Friday. Monness Crespi & Hardt boosted their target price on Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. UBS Group lifted their target price on shares of Meta Platforms from $690.00 to $719.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Truist Financial upped their price target on Meta Platforms from $650.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Finally, Susquehanna boosted their target price on Meta Platforms from $600.00 to $675.00 and gave the stock a “positive” rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus price target of $650.05.

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.