Clear Harbor Asset Management LLC Buys 1,264 Shares of Meta Platforms, Inc. (NASDAQ:META)

Clear Harbor Asset Management LLC raised its stake in Meta Platforms, Inc. (NASDAQ:META) by 16.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,799 shares of the social networking company’s stock after buying an additional 1,264 shares during the period. Clear Harbor Asset Management LLC’s holdings in Meta Platforms were worth $5,152,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. JDM Financial Group LLC acquired a new position in shares of Meta Platforms in the 3rd quarter valued at about $30,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Meta Platforms in the 3rd quarter valued at about $36,000. Avondale Wealth Management acquired a new position in shares of Meta Platforms in the 4th quarter valued at about $41,000. Halpern Financial Inc. acquired a new position in shares of Meta Platforms in the 3rd quarter valued at about $46,000. Finally, West Financial Advisors LLC acquired a new position in shares of Meta Platforms in the 3rd quarter valued at about $49,000. Institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling

In related news, COO Javier Olivan sold 413 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $567.58, for a total value of $234,410.54. Following the sale, the chief operating officer now owns 10,294 shares in the company, valued at approximately $5,842,668.52. This trade represents a 3.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Susan J. Li sold 8,951 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $577.16, for a total value of $5,166,159.16. Following the completion of the sale, the chief financial officer now owns 51,591 shares in the company, valued at $29,776,261.56. This trade represents a 14.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 568,016 shares of company stock worth $346,031,180. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Trading Up 2.1 %

NASDAQ:META opened at $636.45 on Friday. The company has a market cap of $1.61 trillion, a P/E ratio of 29.98, a P/E/G ratio of 1.16 and a beta of 1.19. The stock’s fifty day moving average price is $600.06 and its two-hundred day moving average price is $559.30. Meta Platforms, Inc. has a 1 year low of $385.66 and a 1 year high of $638.40. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.19 by $0.84. The firm had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. As a group, analysts expect that Meta Platforms, Inc. will post 22.96 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were given a $0.50 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.31%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on META shares. Raymond James boosted their price objective on Meta Platforms from $675.00 to $725.00 and gave the company a “strong-buy” rating in a research note on Tuesday. Bank of America upped their price target on Meta Platforms from $660.00 to $710.00 and gave the stock a “buy” rating in a research note on Thursday. Roth Mkm upped their price target on Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. TD Cowen upped their price target on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $811.00 price target on shares of Meta Platforms 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 assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $654.20.

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.