Northeast Financial Consultants Inc Purchases 81 Shares of Meta Platforms, Inc. (NASDAQ:META)

Northeast Financial Consultants Inc boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 6.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,388 shares of the social networking company’s stock after purchasing an additional 81 shares during the period. Northeast Financial Consultants Inc’s holdings in Meta Platforms were worth $795,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kensington Investment Counsel LLC boosted its holdings in shares of Meta Platforms by 3.8% in the 3rd quarter. Kensington Investment Counsel LLC now owns 2,569 shares of the social networking company’s stock worth $1,471,000 after acquiring an additional 94 shares in the last quarter. Dunhill Financial LLC raised its position in Meta Platforms by 176.0% in the 3rd quarter. Dunhill Financial LLC now owns 1,532 shares of the social networking company’s stock valued at $877,000 after purchasing an additional 977 shares during the last quarter. Tenere Capital LLC boosted its stake in Meta Platforms by 47.6% in the third quarter. Tenere Capital LLC now owns 31,013 shares of the social networking company’s stock worth $17,753,000 after purchasing an additional 10,004 shares in the last quarter. MCIA Inc grew its holdings in shares of Meta Platforms by 7.7% during the third quarter. MCIA Inc now owns 586 shares of the social networking company’s stock worth $343,000 after purchasing an additional 42 shares during the last quarter. Finally, Main Management ETF Advisors LLC acquired a new stake in shares of Meta Platforms in the third quarter valued at $4,442,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $507.63, for a total transaction of $459,405.15. Following the completion of the transaction, the insider now directly owns 37,817 shares of the company’s stock, valued at approximately $19,197,043.71. This represents a 2.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Javier Olivan sold 413 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $520.57, for a total value of $214,995.41. Following the transaction, the chief operating officer now directly owns 13,185 shares in the company, valued at $6,863,715.45. This trade represents a 3.04 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 142,160 shares of company stock worth $81,611,223. 13.71% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on META. JPMorgan Chase & Co. upped their price target on shares of Meta Platforms from $640.00 to $660.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. The Goldman Sachs Group upped their target price on shares of Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Sanford C. Bernstein raised their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Mizuho upped their price objective on Meta Platforms from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Finally, Bank of America lifted their target price on Meta Platforms from $630.00 to $660.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $634.71.

Meta Platforms Trading Up 2.4 %

META opened at $623.77 on Friday. The firm’s fifty day simple moving average is $579.64 and its 200 day simple moving average is $532.13. Meta Platforms, Inc. has a 12 month low of $317.77 and a 12 month high of $629.79. The stock has a market capitalization of $1.57 trillion, a P/E ratio of 29.38, a P/E/G ratio of 1.35 and a beta of 1.20. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last posted 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 return on equity of 35.60% and a net margin of 35.55%. The company had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. As a group, research analysts anticipate that Meta Platforms, Inc. will post 22.68 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

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

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.