Scotia Capital Inc. boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 3.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 306,724 shares of the social networking company’s stock after buying an additional 10,275 shares during the period. Scotia Capital Inc.’s holdings in Meta Platforms were worth $108,567,000 as of its most recent filing with the Securities and Exchange Commission.
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Several other large investors have also recently bought and sold shares of the business. Stone House Investment Management LLC grew its stake in Meta Platforms by 625.0% in the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after purchasing an additional 75 shares in the last quarter. Beaird Harris Wealth Management LLC grew its stake in Meta Platforms by 68.9% in the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after purchasing an additional 42 shares in the last quarter. Quest Partners LLC purchased a new position in Meta Platforms in the fourth quarter valued at about $32,000. Cranbrook Wealth Management LLC grew its stake in Meta Platforms by 80.4% in the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after purchasing an additional 45 shares in the last quarter. Finally, Gilfoyle & Co LLC purchased a new position in Meta Platforms in the fourth quarter valued at about $39,000. 79.91% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
META has been the subject of several recent analyst reports. Stifel Nicolaus upped their price target on Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Deutsche Bank Aktiengesellschaft decreased their price target on Meta Platforms from $540.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Monness Crespi & Hardt upped their price target on Meta Platforms from $370.00 to $540.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Wolfe Research decreased their price target on Meta Platforms from $530.00 to $500.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Finally, Robert W. Baird decreased their price target on Meta Platforms from $525.00 to $500.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus target price of $509.80.
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Insider Activity
In other news, Director Sheryl Sandberg sold 105,000 shares of the stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $476.71, for a total transaction of $50,054,550.00. Following the completion of the sale, the director now owns 630,293 shares of the company’s stock, valued at $300,466,976.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Javier Olivan sold 412 shares of the stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $472.70, for a total transaction of $194,752.40. Following the completion of the sale, the chief operating officer now owns 15,376 shares of the company’s stock, valued at $7,268,235.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sheryl Sandberg sold 105,000 shares of the firm’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $476.71, for a total transaction of $50,054,550.00. Following the completion of the transaction, the director now directly owns 630,293 shares of the company’s stock, valued at approximately $300,466,976.03. The disclosure for this sale can be found here. Insiders sold 790,965 shares of company stock worth $390,715,438 over the last quarter. 13.71% of the stock is currently owned by company insiders.
Meta Platforms Trading Down 0.0 %
META traded down $0.22 during mid-day trading on Friday, reaching $466.83. The stock had a trading volume of 16,919,805 shares, compared to its average volume of 11,500,032. Meta Platforms, Inc. has a 52 week low of $258.45 and a 52 week high of $531.49. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. The stock has a market capitalization of $1.18 trillion, a P/E ratio of 26.81, a P/E/G ratio of 1.21 and a beta of 1.21. The firm’s fifty day simple moving average is $481.07 and its two-hundred day simple moving average is $430.48.
Meta Platforms (NASDAQ:META – Get Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The business had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. On average, equities analysts predict that Meta Platforms, Inc. will post 20.19 EPS for the current year.
Meta Platforms Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.00 annualized dividend and a yield of 0.43%. Meta Platforms’s dividend payout ratio (DPR) is currently 11.49%.
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.
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