Northeast Investment Management Acquires 1,841 Shares of Meta Platforms, Inc. (NASDAQ:META)

Northeast Investment Management raised its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 1.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 100,674 shares of the social networking company's stock after acquiring an additional 1,841 shares during the quarter. Meta Platforms makes up 2.6% of Northeast Investment Management's holdings, making the stock its 9th largest holding. Northeast Investment Management's holdings in Meta Platforms were worth $57,630,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Central Valley Advisors LLC increased its holdings in shares of Meta Platforms by 0.3% during the 3rd quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company's stock valued at $3,271,000 after purchasing an additional 18 shares in the last quarter. Cherrydale Wealth Management LLC grew its position in Meta Platforms by 0.5% during the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company's stock valued at $2,199,000 after buying an additional 18 shares during the period. Alliance Wealth Advisors LLC increased its holdings in Meta Platforms by 0.7% in the third quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company's stock valued at $1,595,000 after buying an additional 18 shares in the last quarter. Kozak & Associates Inc. raised its position in shares of Meta Platforms by 1.0% in the third quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company's stock worth $1,099,000 after acquiring an additional 18 shares during the period. Finally, Capital Advisors Ltd. LLC boosted its stake in shares of Meta Platforms by 0.5% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 3,560 shares of the social networking company's stock worth $2,038,000 after acquiring an additional 18 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.

Wall Street Analyst Weigh In

META has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price target on Meta Platforms from $640.00 to $660.00 and gave the stock an "overweight" rating in a report on Thursday, October 31st. Guggenheim upped their target price on Meta Platforms from $600.00 to $665.00 and gave the stock a "buy" rating in a research note on Monday, October 7th. Bank of America lifted their price target on shares of Meta Platforms from $630.00 to $660.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Royal Bank of Canada restated an "outperform" rating and set a $570.00 price objective on shares of Meta Platforms in a research report on Thursday, August 1st. Finally, Oppenheimer boosted their target price on shares of Meta Platforms from $525.00 to $615.00 and gave the stock an "outperform" rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $634.10.

Meta Platforms Stock Performance

NASDAQ:META traded up $19.62 during trading hours on Thursday, reaching $591.67. 12,252,371 shares of the company's stock were exchanged, compared to its average volume of 15,123,219. 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 firm has a market capitalization of $1.50 trillion, a price-to-earnings ratio of 27.66, a P/E/G ratio of 1.24 and a beta of 1.22. Meta Platforms, Inc. has a 1-year low of $313.66 and a 1-year high of $602.95. The company has a 50-day moving average of $558.95 and a 200 day moving average of $514.71.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The firm had revenue of $40.59 billion for the quarter, compared to analysts' expectations of $40.21 billion. Research analysts anticipate that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.34%. Meta Platforms's dividend payout ratio is currently 9.42%.

Insider Transactions at Meta Platforms

In other news, COO Javier Olivan sold 413 shares of the business's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $567.58, for a total transaction of $234,410.54. Following the transaction, the chief operating officer now directly owns 10,294 shares in the company, valued at $5,842,668.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, COO Javier Olivan sold 413 shares of the company's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $567.58, for a total transaction of $234,410.54. Following the transaction, the chief operating officer now owns 10,294 shares of the company's stock, valued at $5,842,668.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Mark Zuckerberg sold 16,702 shares of the company's stock in a transaction on Friday, August 9th. The stock was sold at an average price of $513.09, for a total transaction of $8,569,629.18. Following the transaction, the chief executive officer now directly owns 98,654 shares in the company, valued at approximately $50,618,380.86. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 243,919 shares of company stock worth $129,296,067. Company insiders own 13.71% of the company's stock.

About Meta Platforms

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.