Hartford Financial Management Inc. Has $2.67 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Hartford Financial Management Inc. grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,666 shares of the social networking company’s stock after purchasing an additional 154 shares during the quarter. Hartford Financial Management Inc.’s holdings in Meta Platforms were worth $2,671,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in META. International Assets Investment Management LLC increased its position in shares of 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. Capital Research Global Investors increased its holdings in shares of Meta Platforms by 14.5% during the 1st quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock worth $16,799,612,000 after acquiring an additional 4,379,826 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Meta Platforms by 24.7% during the 1st quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock worth $6,733,731,000 after acquiring an additional 2,748,620 shares during the last quarter. Sustainable Growth Advisers LP acquired a new position in shares of Meta Platforms during the 2nd quarter worth approximately $595,152,000. Finally, Vanguard Group Inc. increased its holdings in shares of Meta Platforms by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock worth $90,891,055,000 after acquiring an additional 831,047 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Activity

In other news, CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $2,663,825.32. Following the completion of the sale, the chief technology officer now owns 11,990 shares of the company’s stock, valued at approximately $6,315,852.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $2,663,825.32. Following the completion of the sale, the chief technology officer now owns 11,990 shares of the company’s stock, valued at approximately $6,315,852.40. This represents a 0.00 % 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, CEO Mark Zuckerberg sold 84 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $600.00, for a total value of $50,400.00. Following the sale, the chief executive officer now directly owns 518,424 shares of the company’s stock, valued at $311,054,400. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 251,092 shares of company stock valued at $132,865,496. Company insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. BMO Capital Markets boosted their target price on Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a report on Thursday. Piper Sandler boosted their target price on Meta Platforms from $575.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday. Susquehanna boosted their target price on Meta Platforms from $600.00 to $675.00 and gave the stock a “positive” rating in a report on Thursday. Mizuho upped their price objective on Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Hsbc Global Res raised Meta Platforms to a “hold” rating in a report on Thursday, October 24th. 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $634.10.

Meta Platforms Price Performance

Meta Platforms stock opened at $567.16 on Monday. The company has a market capitalization of $1.43 trillion, a PE ratio of 26.72, a P/E/G ratio of 1.36 and a beta of 1.22. The stock has a 50-day moving average price of $555.99 and a two-hundred day moving average price of $513.25. The company has a current ratio of 2.73, a quick ratio of 2.83 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 12 month low of $308.33 and a 12 month high of $602.95.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.19 by $0.84. The company had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. Analysts expect that Meta Platforms, Inc. will post 21.84 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. Meta Platforms’s payout ratio is 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.