TD Private Client Wealth LLC decreased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 1.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,633 shares of the social networking company's stock after selling 759 shares during the quarter. TD Private Client Wealth LLC's holdings in Meta Platforms were worth $23,791,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the stock. Proficio Capital Partners LLC boosted 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 acquiring an additional 6,240,810 shares in the last quarter. Integrated Investment Consultants LLC boosted its stake in Meta Platforms by 61,769.3% in the 3rd quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company's stock worth $2,365,820,000 after purchasing an additional 4,126,190 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Meta Platforms during the 4th quarter valued at about $2,243,603,000. Strategic Financial Concepts LLC grew its position in Meta Platforms by 87,269.8% during the 4th quarter. Strategic Financial Concepts LLC now owns 1,067,659 shares of the social networking company's stock valued at $625,125,000 after purchasing an additional 1,066,437 shares during the last quarter. Finally, World Investment Advisors LLC increased its stake in Meta Platforms by 4,658.5% during the 3rd quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company's stock valued at $520,662,000 after purchasing an additional 890,434 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research firms have recently commented on META. Pivotal Research increased their price target on shares of Meta Platforms from $800.00 to $875.00 and gave the company a "buy" rating in a report on Thursday, January 30th. JPMorgan Chase & Co. increased their price objective on Meta Platforms from $660.00 to $725.00 and gave the company an "overweight" rating in a research report on Wednesday, December 18th. Oppenheimer boosted their target price on Meta Platforms from $650.00 to $800.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Bank of America upped their target price on shares of Meta Platforms from $710.00 to $765.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. Finally, Royal Bank of Canada boosted their price objective on shares of Meta Platforms from $700.00 to $800.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Two 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.com, the company has an average rating of "Moderate Buy" and an average target price of $718.31.
Check Out Our Latest Research Report on Meta Platforms
Meta Platforms Trading Down 1.4 %
META stock traded down $8.40 during midday trading on Thursday, reaching $602.58. The company's stock had a trading volume of 10,412,777 shares, compared to its average volume of 13,822,847. The business's 50-day simple moving average is $656.12 and its 200-day simple moving average is $608.02. The stock has a market cap of $1.53 trillion, a PE ratio of 25.19, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 52 week low of $414.50 and a 52 week high of $740.91.
Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share 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 period in the previous year, the firm earned $5.33 earnings per share. As a group, sell-side analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.
Meta Platforms Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date was Friday, March 14th. This is an increase from Meta Platforms's previous quarterly dividend of $0.50. Meta Platforms's dividend payout ratio (DPR) is 8.78%.
Insider Buying and Selling at Meta Platforms
In other news, CEO Mark Zuckerberg sold 2,311 shares of the firm's stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $600.21, for a total transaction of $1,387,085.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Andrew Bosworth sold 5,060 shares of Meta Platforms 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 $3,727,550.20. Following the completion of the sale, the chief technology officer now owns 5,139 shares of the company's stock, valued at approximately $3,785,747.13. The trade was a 49.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 586,213 shares of company stock valued at $387,084,349 in the last quarter. 13.71% of the stock is currently owned by insiders.
Meta Platforms Company Profile
(
Free Report)
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.
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