Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. cut its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 23,604 shares of the social networking company’s stock after selling 847 shares during the quarter. Meta Platforms accounts for 0.6% of Harbor Capital Advisors Inc.’s investment portfolio, making the stock its 26th biggest holding. Harbor Capital Advisors Inc.’s holdings in Meta Platforms were worth $13,820,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Lindenwold Advisors INC grew its holdings in Meta Platforms by 0.3% during the 3rd quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock valued at $3,388,000 after buying an additional 17 shares during the last quarter. Insight Wealth Strategies LLC lifted its holdings in Meta Platforms by 1.6% in the 4th quarter. Insight Wealth Strategies LLC now owns 1,067 shares of the social networking company’s stock valued at $625,000 after purchasing an additional 17 shares in the last quarter. Central Valley Advisors LLC grew its holdings in shares of Meta Platforms by 0.3% during the third quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock worth $3,271,000 after buying an additional 18 shares in the last quarter. Cherrydale Wealth Management LLC raised its position in shares of Meta Platforms by 0.5% in 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 last quarter. Finally, Alliance Wealth Advisors LLC lifted its stake in shares of Meta Platforms by 0.7% during 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 during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In related news, CAO Aaron Anderson sold 731 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $407,167.00. Following the sale, the chief accounting officer now directly owns 3,414 shares of the company’s stock, valued at $1,901,598. This trade represents a 17.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Mark Zuckerberg sold 84 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $600.00, for a total transaction of $50,400.00. Following the completion of the transaction, the chief executive officer now directly owns 518,424 shares of the company’s stock, valued at $311,054,400. This trade represents a 0.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 410,536 shares of company stock valued at $249,024,275 in the last three months. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

Shares of META traded down $0.53 during midday trading on Friday, reaching $610.19. 8,416,818 shares of the stock were exchanged, compared to its average volume of 11,469,159. The stock’s 50 day simple moving average is $592.65 and its 200 day simple moving average is $552.16. The company has a market cap of $1.54 trillion, a P/E ratio of 28.74, a PEG ratio of 1.36 and a beta of 1.19. Meta Platforms, Inc. has a twelve month low of $358.61 and a twelve month high of $638.40. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $40.21 billion. On average, sell-side analysts expect that Meta Platforms, Inc. will post 22.68 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date was Monday, December 16th. Meta Platforms’s dividend payout ratio is currently 9.42%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Wedbush increased their price objective on shares of Meta Platforms from $640.00 to $680.00 and gave the stock an “outperform” rating in a report on Monday. Stifel Nicolaus lifted their target price on Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a research note on Thursday, October 31st. JPMorgan Chase & Co. lifted their price target on shares of Meta Platforms from $660.00 to $725.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, Mizuho upped their price objective on shares of Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $646.90.

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.