TD Asset Management Inc. Buys 123,190 Shares of Meta Platforms, Inc. (NASDAQ:META)

TD Asset Management Inc. boosted its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 3.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 3,618,903 shares of the social networking company's stock after purchasing an additional 123,190 shares during the period. Meta Platforms comprises approximately 1.9% of TD Asset Management Inc.'s portfolio, making the stock its 6th largest position. TD Asset Management Inc. owned 0.14% of Meta Platforms worth $2,118,904,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JDM Financial Group LLC purchased a new stake in shares of Meta Platforms in the 3rd quarter valued at $30,000. Safe Harbor Fiduciary LLC acquired a new position in Meta Platforms in the 3rd quarter valued at about $36,000. Millstone Evans Group LLC purchased a new stake in Meta Platforms during the fourth quarter worth about $40,000. Avondale Wealth Management acquired a new stake in shares of Meta Platforms during the fourth quarter worth about $41,000. Finally, Cordant Inc. purchased a new position in shares of Meta Platforms in the fourth quarter valued at approximately $59,000. Hedge funds and other institutional investors own 79.91% of the company's stock.

Meta Platforms Price Performance

Shares of META traded down $22.08 during mid-day trading on Friday, hitting $580.50. The company's stock had a trading volume of 8,123,490 shares, compared to its average volume of 14,206,572. The firm has a 50-day simple moving average of $655.95 and a 200 day simple moving average of $607.98. Meta Platforms, Inc. has a 1-year low of $414.50 and a 1-year high of $740.91. The firm has a market capitalization of $1.47 trillion, a P/E ratio of 24.28, a P/E/G ratio of 1.42 and a beta of 1.23. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16.

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Meta Platforms (NASDAQ:META - Get Free Report) last released 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 return on equity of 38.17% and a net margin of 37.91%. During the same period in the prior year, the company earned $5.33 earnings per share. Analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were given a dividend of $0.525 per share. This is a positive change from Meta Platforms's previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a yield of 0.36%. The ex-dividend date was Friday, March 14th. Meta Platforms's dividend payout ratio is presently 8.78%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on META shares. Mizuho upped their target price on shares of Meta Platforms from $675.00 to $750.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Rosenblatt Securities reiterated a "buy" rating and issued a $811.00 price objective on shares of Meta Platforms in a research note on Monday, January 27th. Wedbush reiterated an "outperform" rating and issued a $770.00 target price (up from $700.00) on shares of Meta Platforms in a report on Thursday, January 30th. Needham & Company LLC restated an "underperform" rating on shares of Meta Platforms in a report on Monday, January 27th. Finally, BMO Capital Markets lifted their price objective on Meta Platforms from $530.00 to $610.00 and gave the company a "market perform" rating in a research note on Thursday, January 30th. Two equities 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 issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $718.31.

Insider Buying and Selling at Meta Platforms

In other news, insider Jennifer Newstead sold 921 shares of the firm's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $627.05, for a total value of $577,513.05. Following the completion of the transaction, the insider now owns 31,182 shares in the company, valued at $19,552,673.10. This trade represents a 2.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Javier Olivan sold 413 shares of the business's stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $589.16, for a total transaction of $243,323.08. Following the completion of the sale, the chief operating officer now owns 17,514 shares in the company, valued at $10,318,548.24. This represents a 2.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 584,823 shares of company stock valued at $386,274,777. Corporate insiders own 13.71% of the company's stock.

Meta Platforms 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.