Harbour Investments Inc. Has $6.57 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Key Points

• Harbour Investments Inc. has increased its stake in Meta Platforms by 3.2%, now holding 11,400 shares valued at approximately $6.57 million.
• Several large institutional investors have recently boosted their holdings in Meta, with GAMMA Investing LLC reporting a staggering 67,172.9% increase in the first quarter.
• Meta's stock saw recent price target upgrades from multiple analysts, with targets ranging from $605 to $918, reflecting a strong consensus of a "Moderate Buy" rating.

Harbour Investments Inc. lifted its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 3.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,400 shares of the social networking company's stock after acquiring an additional 350 shares during the period. Harbour Investments Inc.'s holdings in Meta Platforms were worth $6,571,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its holdings in shares of Meta Platforms by 2.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company's stock valued at $24,777,282,000 after purchasing an additional 1,049,121 shares during the period. Capital World Investors increased its holdings in shares of Meta Platforms by 2.9% in the fourth quarter. Capital World Investors now owns 40,317,105 shares of the social networking company's stock valued at $23,606,338,000 after purchasing an additional 1,141,355 shares during the period. GAMMA Investing LLC increased its holdings in shares of Meta Platforms by 67,172.9% in the first quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company's stock valued at $13,517,178,000 after purchasing an additional 23,417,803 shares during the period. Northern Trust Corp increased its holdings in shares of Meta Platforms by 13.5% in the fourth quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company's stock valued at $13,727,613,000 after purchasing an additional 2,787,832 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Meta Platforms by 2.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,007,308 shares of the social networking company's stock valued at $7,030,399,000 after purchasing an additional 280,357 shares during the period. 79.91% of the stock is owned by institutional investors.

Analysts Set New Price Targets

META has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on Meta Platforms from $795.00 to $875.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Rosenblatt Securities increased their price target on Meta Platforms from $846.00 to $918.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Royal Bank Of Canada increased their price target on Meta Platforms from $740.00 to $840.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Citizens Jmp increased their price target on Meta Platforms from $750.00 to $900.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Finally, Moffett Nathanson increased their price target on Meta Platforms from $525.00 to $605.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms presently has a consensus rating of "Moderate Buy" and a consensus price target of $822.41.

Insider Activity at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 22,449 shares of Meta Platforms stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $636.85, for a total value of $14,296,645.65. Following the transaction, the chief technology officer owned 1,183 shares in the company, valued at approximately $753,393.55. The trade was a 94.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 15,847 shares of Meta Platforms stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $753.43, for a total transaction of $11,939,605.21. The disclosure for this sale can be found here. In the last 90 days, insiders sold 167,298 shares of company stock worth $116,742,790. 13.61% of the stock is currently owned by company insiders.

Meta Platforms Stock Performance

Shares of META traded down $12.91 during mid-day trading on Tuesday, reaching $763.46. 11,612,061 shares of the company's stock traded hands, compared to its average volume of 13,355,778. The business's 50-day moving average price is $704.66 and its 200-day moving average price is $647.27. The stock has a market capitalization of $1.92 trillion, a P/E ratio of 27.64, a price-to-earnings-growth ratio of 1.59 and a beta of 1.27. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.97 and a current ratio of 1.97. Meta Platforms, Inc. has a 12 month low of $478.65 and a 12 month high of $784.75.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The social networking company reported $7.14 earnings per share for the quarter, beating analysts' consensus estimates of $5.75 by $1.39. The company had revenue of $47.52 billion for the quarter, compared to analysts' expectations of $44.55 billion. Meta Platforms had a return on equity of 39.33% and a net margin of 39.99%. The business's revenue for the quarter was up 21.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.16 earnings per share. Equities analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were given a $0.525 dividend. The ex-dividend date was Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.3%. Meta Platforms's payout ratio is 7.60%.

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.