Granite Harbor Advisors Inc. Has $3.87 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Granite Harbor Advisors Inc. lessened its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,611 shares of the social networking company’s stock after selling 61 shares during the period. Meta Platforms makes up about 2.1% of Granite Harbor Advisors Inc.’s portfolio, making the stock its 15th largest holding. Granite Harbor Advisors Inc.’s holdings in Meta Platforms were worth $3,871,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its holdings in shares of Meta Platforms by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock valued at $27,470,870,000 after purchasing an additional 698,884 shares during the last quarter. Jennison Associates LLC increased its holdings in Meta Platforms by 1.9% in the third quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock valued at $8,266,531,000 after purchasing an additional 263,063 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Meta Platforms by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock worth $7,915,451,000 after acquiring an additional 118,298 shares during the last quarter. International Assets Investment Management LLC raised its holdings in Meta Platforms by 57,001.5% during the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after purchasing an additional 9,500,444 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in Meta Platforms by 2.8% during the third quarter. Franklin Resources Inc. now owns 6,946,755 shares of the social networking company’s stock worth $4,101,602,000 after buying an additional 186,728 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Meta Platforms

In related news, COO Javier Olivan sold 413 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $562.77, for a total transaction of $232,424.01. Following the completion of the sale, 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Aaron Anderson sold 731 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $557.00, for a total transaction of $407,167.00. Following the completion of the sale, the chief accounting officer now directly owns 3,414 shares in the company, valued at approximately $1,901,598. This trade represents a 17.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 673,878 shares of company stock worth $416,269,904. 13.71% of the stock is currently owned by insiders.

Meta Platforms Price Performance

Shares of Meta Platforms stock opened at $697.46 on Tuesday. The stock has a market capitalization of $1.76 trillion, a price-to-earnings ratio of 29.16, a price-to-earnings-growth ratio of 1.47 and a beta of 1.20. The company has a fifty day moving average of $616.25 and a 200-day moving average of $568.60. Meta Platforms, Inc. has a 52-week low of $414.50 and a 52-week high of $710.79. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same quarter last year, the business earned $5.33 earnings per share. Equities research analysts expect that Meta Platforms, Inc. will post 25.94 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.29%. Meta Platforms’s dividend payout ratio (DPR) is currently 8.36%.

Analyst Ratings Changes

Several brokerages have recently commented on META. Wolfe Research raised their price objective on shares of Meta Platforms from $670.00 to $730.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Robert W. Baird boosted their price objective on Meta Platforms from $680.00 to $750.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Pivotal Research upped their price objective on shares of Meta Platforms from $800.00 to $875.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Benchmark upgraded Meta Platforms from a “hold” rating to a “buy” rating and set a $820.00 target price on the stock in a research note on Thursday, January 30th. Finally, The Goldman Sachs Group upped their price objective on Meta Platforms from $688.00 to $765.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Two investment 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 company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $710.83.

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.