Harbour Trust & Investment Management Co boosted its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 364.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,827 shares of the social networking company's stock after purchasing an additional 5,356 shares during the quarter. Harbour Trust & Investment Management Co's holdings in Meta Platforms were worth $3,442,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in Meta Platforms by 0.4% during the first quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company's stock worth $90,891,055,000 after purchasing an additional 831,047 shares during the last quarter. Capital World Investors lifted its holdings in Meta Platforms by 0.6% in the first quarter. Capital World Investors now owns 38,299,316 shares of the social networking company's stock valued at $18,597,382,000 after acquiring an additional 244,803 shares during the last quarter. Capital International Investors increased its stake in Meta Platforms by 3.2% during the fourth quarter. Capital International Investors now owns 34,738,470 shares of the social networking company's stock worth $12,296,383,000 after acquiring an additional 1,083,719 shares during the last quarter. Capital Research Global Investors raised its position in Meta Platforms by 14.5% in the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company's stock valued at $16,799,612,000 after purchasing an additional 4,379,826 shares during the period. Finally, Norges Bank acquired a new stake in shares of Meta Platforms during the 4th quarter worth about $11,285,855,000. Hedge funds and other institutional investors own 79.91% of the company's stock.
Meta Platforms Stock Performance
Shares of NASDAQ:META traded down $3.23 during trading on Thursday, reaching $531.93. The company had a trading volume of 15,697,553 shares, compared to its average volume of 16,248,199. Meta Platforms, Inc. has a fifty-two week low of $276.03 and a fifty-two week high of $544.23. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.68. The stock's fifty day moving average price is $502.48 and its 200 day moving average price is $490.42. The firm has a market capitalization of $1.35 trillion, a price-to-earnings ratio of 30.55, a price-to-earnings-growth ratio of 1.27 and a beta of 1.21.
Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data 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. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company had revenue of $39.07 billion for the quarter, compared to analysts' expectations of $38.26 billion. During the same period in the previous year, the company posted $3.23 EPS. Meta Platforms's revenue was up 22.1% compared to the same quarter last year. As a group, equities research analysts predict that Meta Platforms, Inc. will post 20.5 EPS for the current year.
Meta Platforms Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms's dividend payout ratio is presently 11.49%.
Analyst Ratings Changes
META has been the topic of a number of research analyst reports. Robert W. Baird boosted their target price on Meta Platforms from $500.00 to $530.00 and gave the company an "outperform" rating in a research report on Thursday, August 1st. Raymond James raised their price objective on shares of Meta Platforms from $550.00 to $600.00 and gave the company a "strong-buy" rating in a research note on Monday, July 1st. Wolfe Research initiated coverage on shares of Meta Platforms in a research note on Tuesday, July 16th. They set an "outperform" rating and a $620.00 target price on the stock. Wells Fargo & Company boosted their price target on shares of Meta Platforms from $625.00 to $647.00 and gave the stock an "overweight" rating in a research note on Thursday, August 1st. Finally, Benchmark reaffirmed a "hold" rating on shares of Meta Platforms in a research report on Thursday, July 25th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-three have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $574.41.
Get Our Latest Stock Report on META
Insiders Place Their Bets
In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the firm's stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $533.95, for a total value of $483,224.75. Following the completion of the sale, the insider now owns 36,940 shares of the company's stock, valued at $19,724,113. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Jennifer Newstead sold 905 shares of the firm's stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $533.95, for a total value of $483,224.75. Following the completion of the transaction, the insider now owns 36,940 shares in the company, valued at $19,724,113. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Sheryl Sandberg sold 105,000 shares of Meta Platforms stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total value of $50,054,550.00. Following the transaction, the director now directly owns 630,293 shares of the company's stock, valued at approximately $300,466,976.03. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 418,680 shares of company stock worth $211,992,147. Company insiders own 13.71% of the company's stock.
Meta Platforms Company Profile
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Free Report)
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.
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