Northeast Investment Management Boosts Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Northeast Investment Management increased its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 1.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 105,420 shares of the social networking company's stock after acquiring an additional 1,164 shares during the quarter. Meta Platforms accounts for approximately 2.8% of Northeast Investment Management's portfolio, making the stock its 9th largest position. Northeast Investment Management's holdings in Meta Platforms were worth $60,760,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Meta Platforms by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company's stock worth $111,948,344,000 after purchasing an additional 1,502,553 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Meta Platforms by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company's stock valued at $28,719,970,000 after acquiring an additional 1,020,519 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Meta Platforms by 2.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company's stock worth $24,777,282,000 after acquiring an additional 1,049,121 shares in the last quarter. Capital World Investors grew its position in Meta Platforms by 2.9% in the 4th quarter. Capital World Investors now owns 40,317,105 shares of the social networking company's stock valued at $23,606,338,000 after acquiring an additional 1,141,355 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Meta Platforms during the 4th quarter worth $19,949,512,000. Institutional investors own 79.91% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on META shares. Susquehanna dropped their target price on Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock in a report on Thursday, May 1st. Evercore ISI upped their price target on Meta Platforms from $725.00 to $750.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Wedbush upped their price objective on Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Raymond James dropped their price objective on Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating for the company in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. raised their price objective on Meta Platforms from $675.00 to $735.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $704.26.

Meta Platforms Price Performance

NASDAQ:META traded down $0.78 during trading hours on Thursday, reaching $693.36. 7,303,916 shares of the company traded hands, compared to its average volume of 14,503,798. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The stock has a market cap of $1.74 trillion, a P/E ratio of 28.99, a P/E/G ratio of 1.42 and a beta of 1.26. The firm's 50-day moving average is $597.08 and its 200-day moving average is $617.62. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $740.91.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. The firm had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. Meta Platforms's revenue was up 16.1% on a year-over-year basis. During the same quarter last year, the company posted $4.71 earnings per share. Equities research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be given a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.30%. The ex-dividend date is Monday, June 16th. Meta Platforms's dividend payout ratio (DPR) is presently 8.19%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 519 shares of Meta Platforms stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $701.00, for a total value of $363,819.00. Following the sale, the insider now owns 29,183 shares of the company's stock, valued at approximately $20,457,283. The trade was a 1.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Mark Zuckerberg sold 1,462 shares of the business's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $701.13, for a total transaction of $1,025,052.06. Following the transaction, the chief executive officer now directly owns 139,538 shares of the company's stock, valued at approximately $97,834,277.94. This represents a 1.04% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 86,201 shares of company stock valued at $56,377,837. 13.61% of the stock is currently owned by 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.