Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Granite Harbor Advisors Inc.

Granite Harbor Advisors Inc. increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.1% during the 3rd quarter, Holdings Channel.com reports. The fund owned 6,672 shares of the social networking company’s stock after buying an additional 74 shares during the period. Meta Platforms makes up approximately 2.2% of Granite Harbor Advisors Inc.’s portfolio, making the stock its 16th biggest position. Granite Harbor Advisors Inc.’s holdings in Meta Platforms were worth $3,819,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Delos Wealth Advisors LLC boosted its holdings in shares of Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after acquiring an additional 58 shares in the last quarter. POM Investment Strategies LLC bought a new stake in Meta Platforms during the second quarter worth approximately $38,000. Ruedi Wealth Management Inc. boosted its holdings in Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after buying an additional 44 shares in the last quarter. Halpern Financial Inc. bought a new stake in Meta Platforms during the third quarter worth approximately $46,000. Finally, West Financial Advisors LLC bought a new stake in Meta Platforms during the third quarter worth approximately $49,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 901 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $451.15, for a total value of $406,486.15. Following the transaction, the insider now directly owns 33,324 shares in the company, valued at $15,034,122.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Jennifer Newstead sold 901 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $451.15, for a total value of $406,486.15. Following the transaction, the insider now directly owns 33,324 shares in the company, valued at $15,034,122.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Susan J. Li sold 8,950 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the completion of the transaction, the chief financial officer now owns 74,579 shares in the company, valued at $39,285,234.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 252,443 shares of company stock worth $133,105,284. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

NASDAQ:META traded up $6.84 on Monday, reaching $596.79. The stock had a trading volume of 2,238,271 shares, compared to its average volume of 15,295,687. The company has a market capitalization of $1.51 trillion, a P/E ratio of 33.99, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. Meta Platforms, Inc. has a 1-year low of $279.40 and a 1-year high of $602.95. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The stock has a fifty day moving average price of $538.12 and a 200-day moving average price of $505.67.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The firm had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period in the previous year, the business earned $3.23 earnings per share. Research analysts forecast that Meta Platforms, Inc. will post 21.37 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. Meta Platforms’s payout ratio is 11.49%.

Analyst Ratings Changes

META has been the subject of a number of research reports. Tigress Financial raised their target price on shares of Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a report on Friday, August 16th. Rosenblatt Securities lifted their price objective on shares of Meta Platforms from $643.00 to $811.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Susquehanna lifted their price objective on shares of Meta Platforms from $550.00 to $600.00 and gave the stock a “positive” rating in a research report on Thursday, August 1st. Guggenheim lifted their price objective on shares of Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Finally, Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a research report on Wednesday, September 4th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $611.49.

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.