Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd raised its holdings in Meta Platforms, Inc. (NASDAQ:META) by 30.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 121,108 shares of the social networking company’s stock after buying an additional 28,194 shares during the quarter. Meta Platforms accounts for 4.1% of Harvest Fund Management Co. Ltd’s investment portfolio, making the stock its 5th largest holding. Harvest Fund Management Co. Ltd’s holdings in Meta Platforms were worth $69,313,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of META. Jennison Associates LLC boosted its stake in Meta Platforms by 1.9% during the third quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock worth $8,266,531,000 after acquiring an additional 263,063 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Meta Platforms by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock valued at $7,915,451,000 after buying an additional 118,298 shares during the period. International Assets Investment Management LLC increased its position in Meta Platforms by 57,001.5% in the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock valued at $5,447,975,000 after buying an additional 9,500,444 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Meta Platforms by 2.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,754,450 shares of the social networking company’s stock worth $3,911,029,000 after buying an additional 208,677 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in Meta Platforms by 4.6% in the third quarter. Fisher Asset Management LLC now owns 6,565,134 shares of the social networking company’s stock worth $3,758,146,000 after acquiring an additional 289,207 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Insider Transactions at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 413 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $562.77, for a total value of $232,424.01. Following the transaction, the chief operating officer now directly owns 19,579 shares in the company, valued at $11,018,473.83. This represents a 2.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 84 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $600.00, for a total value of $50,400.00. Following the transaction, the chief executive officer now directly owns 518,424 shares of the company’s stock, valued at $311,054,400. The trade was a 0.02 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 110,656 shares of company stock valued at $61,933,867. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Stock Performance

NASDAQ:META opened at $573.54 on Wednesday. Meta Platforms, Inc. has a 52-week low of $313.66 and a 52-week high of $602.95. The business’s fifty day moving average is $573.38 and its 200 day moving average is $525.35. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The firm has a market cap of $1.45 trillion, a price-to-earnings ratio of 27.02, a PEG ratio of 1.23 and a beta of 1.22.

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 firm had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Research analysts predict that Meta Platforms, Inc. will post 22.62 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently declared 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 was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) is currently 9.42%.

Wall Street Analysts Forecast Growth

META has been the subject of several recent research reports. BMO Capital Markets boosted their price objective on Meta Platforms from $525.00 to $530.00 and gave the company a “market perform” rating in a report on Thursday, October 31st. Piper Sandler boosted their price target on shares of Meta Platforms from $575.00 to $650.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Susquehanna raised their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “positive” rating in a research note on Thursday, October 31st. The Goldman Sachs Group lifted their price objective on shares of Meta Platforms from $555.00 to $636.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, DA Davidson initiated coverage on shares of Meta Platforms in a research report on Tuesday, September 10th. They issued a “buy” rating and a $600.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, four 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $634.71.

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.