Northern Capital Management Inc. Purchases Shares of 626 Meta Platforms, Inc. (NASDAQ:META)

Northern Capital Management Inc. purchased a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 626 shares of the social networking company’s stock, valued at approximately $222,000. Meta Platforms accounts for approximately 0.2% of Northern Capital Management Inc.’s investment portfolio, making the stock its 28th biggest holding.

A number of other large investors have also made changes to their positions in META. Stone House Investment Management LLC lifted its position in shares of Meta Platforms by 625.0% during the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after buying an additional 75 shares in the last quarter. Beaird Harris Wealth Management LLC lifted its holdings in Meta Platforms by 68.9% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after purchasing an additional 42 shares in the last quarter. Quest Partners LLC purchased a new position in Meta Platforms in the 4th quarter worth approximately $32,000. Clear Investment Research LLC lifted its holdings in Meta Platforms by 411.1% in the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after purchasing an additional 74 shares in the last quarter. Finally, Cranbrook Wealth Management LLC increased its stake in Meta Platforms by 80.4% in the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after acquiring an additional 45 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

META has been the topic of a number of research reports. Barclays reduced their price objective on Meta Platforms from $550.00 to $520.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. Citigroup cut their target price on Meta Platforms from $590.00 to $550.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Wells Fargo & Company cut their target price on Meta Platforms from $609.00 to $600.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 3rd. Guggenheim cut their target price on Meta Platforms from $520.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Finally, The Goldman Sachs Group cut their target price on Meta Platforms from $555.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus price target of $510.41.

Insider Buying and Selling

In related news, COO Javier Olivan sold 412 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $471.67, for a total transaction of $194,328.04. Following the sale, the chief operating officer now directly owns 14,964 shares of the company’s stock, valued at $7,058,069.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $431.05, for a total transaction of $252,164.25. Following the transaction, the insider now owns 36,643 shares in the company, valued at $15,794,965.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Javier Olivan sold 412 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $471.67, for a total value of $194,328.04. Following the transaction, the chief operating officer now owns 14,964 shares in the company, valued at approximately $7,058,069.88. The disclosure for this sale can be found here. Insiders have sold a total of 635,968 shares of company stock valued at $313,346,759 over the last ninety days. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

Shares of META stock traded up $9.51 during mid-day trading on Wednesday, reaching $486.50. The stock had a trading volume of 6,005,811 shares, compared to its average volume of 17,001,648. The business’s fifty day moving average is $480.18 and its 200-day moving average is $433.84. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The firm has a market cap of $1.23 trillion, a price-to-earnings ratio of 28.00, a PEG ratio of 1.24 and a beta of 1.21. Meta Platforms, Inc. has a 1-year low of $258.88 and a 1-year high of $531.49.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. The business had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. On average, research analysts forecast that Meta Platforms, Inc. will post 20.19 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Friday, June 14th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.41%. The ex-dividend date is Friday, June 14th. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

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.