TD Private Client Wealth LLC Has $23.79 Million Position in Meta Platforms, Inc. (NASDAQ:META)

TD Private Client Wealth LLC cut its position in Meta Platforms, Inc. (NASDAQ:META) by 1.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in META. JDM Financial Group LLC bought a new position in Meta Platforms during the 3rd quarter worth $30,000. Safe Harbor Fiduciary LLC bought a new position in shares of Meta Platforms in the third quarter worth $36,000. Avondale Wealth Management acquired a new position in Meta Platforms in the fourth quarter valued at about $41,000. Cordant Inc. acquired a new position in Meta Platforms in the fourth quarter valued at about $59,000. Finally, Bear Mountain Capital Inc. bought a new stake in Meta Platforms during the fourth quarter worth about $70,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Trading Up 1.7 %

NASDAQ META opened at $596.25 on Monday. Meta Platforms, Inc. has a one year low of $414.50 and a one year high of $740.91. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The business has a 50 day simple moving average of $655.38 and a 200 day simple moving average of $606.39. The stock has a market capitalization of $1.51 trillion, a P/E ratio of 24.93, a P/E/G ratio of 1.42 and a beta of 1.23.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data 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 last year, the company posted $5.33 earnings per share. Research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date is Friday, March 14th. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio is 8.78%.

Insider Activity

In related news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $602.47, for a total value of $545,235.35. Following the completion of the sale, the insider now owns 33,820 shares of the company’s stock, valued at approximately $20,375,535.40. This trade represents a 2.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 35,921 shares of the company’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $604.46, for a total transaction of $21,712,807.66. The disclosure for this sale can be found here. Insiders sold a total of 622,431 shares of company stock worth $408,968,491 in the last three months. Company insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Benchmark upgraded shares of Meta Platforms from a “hold” rating to a “buy” rating and set a $820.00 target price for the company in a research report on Thursday, January 30th. Raymond James restated a “strong-buy” rating and set a $800.00 target price (up from $725.00) on shares of Meta Platforms in a research note on Thursday, January 30th. Jefferies Financial Group raised their target price on Meta Platforms from $675.00 to $715.00 and gave the company a “buy” rating in a report on Monday, January 6th. Mizuho boosted their price target on Meta Platforms from $675.00 to $750.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Finally, Royal Bank of Canada raised their price objective on Meta Platforms from $700.00 to $800.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Two 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $718.31.

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.