Harvest Fund Management Co. Ltd Has $75.60 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

Harvest Fund Management Co. Ltd lifted its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 6.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 129,272 shares of the social networking company's stock after acquiring an additional 8,164 shares during the quarter. Meta Platforms makes up about 3.5% of Harvest Fund Management Co. Ltd's holdings, making the stock its 6th biggest holding. Harvest Fund Management Co. Ltd's holdings in Meta Platforms were worth $75,598,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in META. Proficio Capital Partners LLC increased its stake in shares of Meta Platforms by 78,471.1% in the fourth quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company's stock worth $3,658,713,000 after acquiring an additional 6,240,810 shares during the last quarter. Integrated Investment Consultants LLC increased its position in Meta Platforms by 61,769.3% in the 3rd quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company's stock worth $2,365,820,000 after purchasing an additional 4,126,190 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Meta Platforms during the 4th quarter worth about $2,243,603,000. Strategic Financial Concepts LLC lifted its holdings in shares of Meta Platforms by 87,269.8% during the 4th quarter. Strategic Financial Concepts LLC now owns 1,067,659 shares of the social networking company's stock valued at $625,125,000 after buying an additional 1,066,437 shares during the last quarter. Finally, World Investment Advisors LLC grew its stake in shares of Meta Platforms by 4,658.5% in the 3rd quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company's stock valued at $520,662,000 after buying an additional 890,434 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company's stock.

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Meta Platforms Trading Up 1.7 %

Shares of NASDAQ:META traded up $10.25 during trading on Friday, hitting $596.25. 24,988,817 shares of the company's stock were exchanged, compared to its average volume of 13,804,408. The firm has a 50-day moving average price of $655.38 and a two-hundred day moving average price of $605.74. Meta Platforms, Inc. has a 1-year low of $414.50 and a 1-year high of $740.91. The firm has a market cap of $1.51 trillion, a P/E ratio of 24.93, a PEG ratio of 1.42 and a beta of 1.23. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping analysts' consensus estimates of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same quarter last year, the firm posted $5.33 earnings per share. Equities analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.35%. This is an increase from Meta Platforms's previous quarterly dividend of $0.50. The ex-dividend date is Friday, March 14th. Meta Platforms's dividend payout ratio (DPR) is currently 8.78%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on META shares. Oppenheimer lifted their target price on shares of Meta Platforms from $650.00 to $800.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Wedbush reaffirmed an "outperform" rating and issued a $770.00 price objective (up previously from $700.00) on shares of Meta Platforms in a research note on Thursday, January 30th. JPMorgan Chase & Co. increased their target price on shares of Meta Platforms from $660.00 to $725.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 18th. Scotiabank boosted their price target on Meta Platforms from $583.00 to $627.00 and gave the stock a "sector perform" rating in a research report on Thursday, January 30th. Finally, Royal Bank of Canada increased their price objective on Meta Platforms from $700.00 to $800.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $718.31.

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 35,921 shares of Meta Platforms stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $604.46, for a total transaction of $21,712,807.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jennifer Newstead sold 921 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $600.25, for a total value of $552,830.25. Following the completion of the sale, the insider now owns 32,103 shares of the company's stock, valued at $19,269,825.75. This trade represents a 2.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 622,844 shares of company stock worth $409,212,161. 13.71% of the stock is currently owned by company 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.