Oriental Harbor Investment Fund Takes $95.73 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Oriental Harbor Investment Fund purchased a new stake in Meta Platforms, Inc. (NASDAQ:META) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 166,691 shares of the social networking company’s stock, valued at approximately $95,734,000. Meta Platforms accounts for 10.7% of Oriental Harbor Investment Fund’s holdings, making the stock its 2nd largest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. JDM Financial Group LLC bought a new stake in Meta Platforms in the 3rd quarter valued at $30,000. Safe Harbor Fiduciary LLC bought a new stake in Meta Platforms in the 3rd quarter valued at $36,000. POM Investment Strategies LLC bought a new stake in Meta Platforms in the 2nd quarter valued at $38,000. Ruedi Wealth Management Inc. lifted its position in Meta Platforms by 122.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after acquiring an additional 44 shares in the last quarter. Finally, Halpern Financial Inc. bought a new stake in Meta Platforms during the 3rd quarter worth about $46,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Activity

In other news, CAO Aaron Anderson sold 731 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $557.00, for a total transaction of $407,167.00. Following the completion of the transaction, the chief accounting officer now owns 3,414 shares of the company’s stock, valued at approximately $1,901,598. This trade represents a 17.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 35,921 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $633.25, for a total transaction of $22,746,973.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 214,002 shares of company stock valued at $126,740,653. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $630.79 on Friday. The company has a 50 day moving average of $583.48 and a 200-day moving average of $536.44. Meta Platforms, Inc. has a 1-year low of $328.64 and a 1-year high of $638.40. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The company has a market cap of $1.59 trillion, a PE ratio of 29.71, a price-to-earnings-growth ratio of 1.39 and a beta of 1.20.

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

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 16th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.32%. The ex-dividend date is Monday, December 16th. Meta Platforms’s payout ratio is 9.42%.

Analyst Upgrades and Downgrades

Several brokerages have commented on META. JMP Securities boosted their price target on shares of Meta Platforms from $635.00 to $660.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 31st. DA Davidson began coverage on shares of Meta Platforms in a research report on Tuesday, September 10th. They set a “buy” rating and a $600.00 price target on the stock. Rosenblatt Securities reissued a “buy” rating and set a $811.00 price target on shares of Meta Platforms in a research report on Thursday, October 31st. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research report on Thursday, October 31st. Finally, Mizuho boosted their price target on shares of Meta Platforms from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $635.20.

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.