TD Private Client Wealth LLC Sells 759 Shares of Meta Platforms, Inc. (NASDAQ:META)

TD Private Client Wealth LLC reduced its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.8% during the fourth quarter, Holdings Channel reports. The firm owned 40,633 shares of the social networking company’s stock after selling 759 shares during the period. TD Private Client Wealth LLC’s holdings in Meta Platforms were worth $23,791,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in shares of Meta Platforms by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock worth $27,470,870,000 after buying an additional 698,884 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Meta Platforms by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 14,251,766 shares of the social networking company’s stock valued at $8,344,552,000 after purchasing an additional 424,201 shares during the period. Franklin Resources Inc. raised its stake in shares of Meta Platforms by 2.8% during the 3rd quarter. Franklin Resources Inc. now owns 6,946,755 shares of the social networking company’s stock worth $4,101,602,000 after purchasing an additional 186,728 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Meta Platforms by 1.7% in the 4th quarter. Fisher Asset Management LLC now owns 6,675,174 shares of the social networking company’s stock worth $3,908,382,000 after buying an additional 110,040 shares during the last quarter. Finally, Amundi grew its position in Meta Platforms by 14.6% during the fourth quarter. Amundi now owns 6,262,991 shares of the social networking company’s stock valued at $3,824,934,000 after buying an additional 795,570 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Jennifer Newstead sold 921 shares of Meta Platforms stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $600.25, for a total value of $552,830.25. Following the sale, the insider now directly owns 32,103 shares in the company, valued at approximately $19,269,825.75. This trade represents a 2.79 % decrease in their position. 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 on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total transaction of $3,727,550.20. Following the completion of the sale, the chief technology officer now owns 5,139 shares in the company, valued at approximately $3,785,747.13. This trade represents a 49.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 622,431 shares of company stock valued at $408,968,491 over the last ninety days. 13.71% of the stock is owned by insiders.

Meta Platforms Price Performance

Shares of Meta Platforms stock opened at $596.25 on Monday. 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, Inc. has a one year low of $414.50 and a one year high of $740.91. The business’s 50 day simple moving average is $655.38 and its two-hundred day simple moving average is $606.39. The stock has a market capitalization of $1.51 trillion, a P/E ratio of 24.93, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping 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 prior year, the business earned $5.33 EPS. Analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be issued 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 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend is Friday, March 14th. Meta Platforms’s dividend payout ratio is currently 8.78%.

Analysts Set New Price Targets

Several analysts have commented on META shares. Mizuho lifted their price objective on shares of Meta Platforms from $675.00 to $750.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Arete Research raised Meta Platforms to a “hold” rating in a report on Friday, January 24th. UBS Group boosted their target price on Meta Platforms from $736.00 to $786.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Truist Financial lifted their price objective on Meta Platforms from $700.00 to $770.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, Wells Fargo & Company upped their price objective on shares of Meta Platforms from $685.00 to $752.00 and gave the company an “overweight” 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average price target of $718.31.

About Meta Platforms

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.