Harbor Capital Advisors Inc. Has $13.82 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Harbor Capital Advisors Inc. trimmed its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 23,604 shares of the social networking company’s stock after selling 847 shares during the quarter. Meta Platforms makes up approximately 0.6% of Harbor Capital Advisors Inc.’s investment portfolio, making the stock its 26th biggest position. Harbor Capital Advisors Inc.’s holdings in Meta Platforms were worth $13,820,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Hilltop National Bank boosted its stake in shares of Meta Platforms by 15.8% in the 4th quarter. Hilltop National Bank now owns 4,178 shares of the social networking company’s stock valued at $2,446,000 after purchasing an additional 571 shares during the last quarter. Avondale Wealth Management acquired a new position in Meta Platforms in the fourth quarter valued at $41,000. ORG Partners LLC boosted its position in Meta Platforms by 7.4% during the fourth quarter. ORG Partners LLC now owns 2,881 shares of the social networking company’s stock valued at $1,687,000 after acquiring an additional 198 shares during the last quarter. Baker Tilly Wealth Management LLC grew its holdings in Meta Platforms by 5.7% during the 4th quarter. Baker Tilly Wealth Management LLC now owns 7,725 shares of the social networking company’s stock worth $4,523,000 after acquiring an additional 415 shares during the period. Finally, Fortitude Family Office LLC raised its position in shares of Meta Platforms by 4.1% in the 4th quarter. Fortitude Family Office LLC now owns 1,080 shares of the social networking company’s stock worth $632,000 after acquiring an additional 43 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $589.97, for a total value of $533,922.85. Following the sale, the insider now directly owns 33,292 shares of the company’s stock, valued at $19,641,281.24. This represents a 2.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark Zuckerberg sold 12,975 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $618.42, for a total transaction of $8,023,999.50. Following the sale, the chief executive officer now owns 420,215 shares in the company, valued at approximately $259,869,360.30. This trade represents a 3.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 410,536 shares of company stock valued at $249,024,275. Company insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

META has been the subject of a number of research analyst reports. Piper Sandler lifted their target price on Meta Platforms from $650.00 to $670.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Sanford C. Bernstein boosted their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Raymond James restated a “strong-buy” rating and set a $675.00 price target on shares of Meta Platforms in a research report on Monday, November 25th. The Goldman Sachs Group raised their price objective on shares of Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, Bank of America boosted their target price 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. Two 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 currently has a consensus rating of “Moderate Buy” and an average target price of $646.90.

Meta Platforms Trading Down 0.1 %

Shares of NASDAQ:META traded down $0.53 during trading on Friday, reaching $610.19. 8,416,818 shares of the company traded hands, compared to its average volume of 11,469,159. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 52-week low of $358.61 and a 52-week high of $638.40. The firm has a market capitalization of $1.54 trillion, a price-to-earnings ratio of 28.74, a P/E/G ratio of 1.36 and a beta of 1.19. The business’s fifty day moving average is $592.65 and its 200-day moving average is $552.16.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The business had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. As a group, analysts forecast that Meta Platforms, Inc. will post 22.68 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 annualized dividend and a yield of 0.33%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

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.