Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 0.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 989,825 shares of the social networking company's stock after purchasing an additional 8,767 shares during the period. Meta Platforms makes up 1.1% of CIBC Private Wealth Group LLC's investment portfolio, making the stock its 13th largest holding. CIBC Private Wealth Group LLC's holdings in Meta Platforms were worth $604,506,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Meta Platforms in the 4th quarter valued at approximately $19,949,512,000. Proficio Capital Partners LLC raised its holdings in Meta Platforms by 78,471.1% in the fourth quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company's stock worth $3,658,713,000 after purchasing an additional 6,240,810 shares in the last quarter. Raymond James Financial Inc. bought a new position in Meta Platforms in the fourth quarter worth $2,243,603,000. Arrowstreet Capital Limited Partnership lifted its position in Meta Platforms by 27.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 8,901,521 shares of the social networking company's stock valued at $5,211,967,000 after buying an additional 1,892,509 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Meta Platforms by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company's stock worth $111,948,344,000 after buying an additional 1,502,553 shares during the period. Institutional investors own 79.91% of the company's stock.

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Meta Platforms Price Performance

Meta Platforms stock traded down $0.38 during midday trading on Monday, reaching $576.36. The company had a trading volume of 21,103,853 shares, compared to its average volume of 14,265,834. The firm's fifty day simple moving average is $655.23 and its 200-day simple moving average is $609.90. Meta Platforms, Inc. has a 12-month low of $414.50 and a 12-month high of $740.91. The company has a market capitalization of $1.46 trillion, a P/E ratio of 24.10, a P/E/G ratio of 1.42 and a beta of 1.23. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating analysts' consensus estimates 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 period in the previous year, the business earned $5.33 earnings per share. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were issued a dividend of $0.525 per share. The ex-dividend date was Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.36%. This is an increase from Meta Platforms's previous quarterly dividend of $0.50. Meta Platforms's dividend payout ratio (DPR) is currently 8.78%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Arete Research raised shares of Meta Platforms to a "hold" rating in a research report on Friday, January 24th. Argus set a $775.00 target price on shares of Meta Platforms in a report on Tuesday, February 4th. Royal Bank of Canada upped their price target on Meta Platforms from $700.00 to $800.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Benchmark upgraded Meta Platforms from a "hold" rating to a "buy" rating and set a $820.00 price objective for the company in a research note on Thursday, January 30th. Finally, Needham & Company LLC reiterated an "underperform" rating on shares of Meta Platforms in a research note on Monday, January 27th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Meta Platforms presently has a consensus rating of "Moderate Buy" and an average price target of $718.55.

Insider Activity

In other Meta Platforms news, CFO Susan J. Li sold 8,553 shares of the business's stock in a transaction that occurred on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total value of $6,300,738.51. Following the sale, the chief financial officer now owns 51,793 shares of the company's stock, valued at $38,154,349.31. The trade was a 14.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $591.76, for a total value of $535,542.80. Following the completion of the sale, the insider now directly owns 32,915 shares of the company's stock, valued at $19,477,780.40. The trade was a 2.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 584,410 shares of company stock valued at $386,031,454. 13.71% of the stock is currently owned by company insiders.

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.