TD Private Client Wealth LLC Increases Stock Position in Meta Platforms, Inc. (NASDAQ:META)

TD Private Client Wealth LLC raised its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 5.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,782 shares of the social networking company's stock after buying an additional 2,149 shares during the period. Meta Platforms comprises about 0.7% of TD Private Client Wealth LLC's investment portfolio, making the stock its 29th biggest holding. TD Private Client Wealth LLC's holdings in Meta Platforms were worth $24,658,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Valley Financial Group Inc. increased its stake in shares of Meta Platforms by 2.4% in the 4th quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock worth $344,000 after acquiring an additional 14 shares in the last quarter. Lantern Wealth Advisors LLC increased its stake in shares of Meta Platforms by 0.5% in the 4th quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company's stock worth $1,743,000 after acquiring an additional 14 shares in the last quarter. Maiden Cove Capital LLC increased its stake in shares of Meta Platforms by 3.2% in the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company's stock worth $282,000 after acquiring an additional 15 shares in the last quarter. Riverwater Partners LLC increased its stake in shares of Meta Platforms by 2.7% in the 4th quarter. Riverwater Partners LLC now owns 572 shares of the social networking company's stock worth $335,000 after acquiring an additional 15 shares in the last quarter. Finally, ABLE Financial Group LLC increased its stake in shares of Meta Platforms by 0.7% in the 4th quarter. ABLE Financial Group LLC now owns 2,136 shares of the social networking company's stock worth $1,251,000 after acquiring an additional 15 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.

Meta Platforms Stock Performance

META opened at $727.24 on Friday. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16. The company has a market cap of $1.83 trillion, a price-to-earnings ratio of 28.36, a PEG ratio of 1.80 and a beta of 1.28. The company's 50 day moving average is $672.36 and its 200 day moving average is $633.41. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $747.90.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. The company had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The firm's revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the firm posted $4.71 earnings per share. On average, equities research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms's dividend payout ratio is currently 8.19%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 22,449 shares of Meta Platforms stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the transaction, the chief technology officer owned 1,183 shares of the company's stock, valued at $753,393.55. The trade was a 94.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 13,793 shares of Meta Platforms stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $701.13, for a total transaction of $9,670,686.09. Following the transaction, the chief executive officer directly owned 118,279 shares in the company, valued at $82,928,955.27. This represents a 10.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 153,792 shares of company stock valued at $105,466,325 over the last 90 days. 13.61% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

META has been the subject of several research reports. Stifel Nicolaus increased their price target on shares of Meta Platforms from $628.00 to $655.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Benchmark decreased their price target on shares of Meta Platforms from $820.00 to $640.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Guggenheim increased their price target on shares of Meta Platforms from $675.00 to $725.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Susquehanna cut their price objective on shares of Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock in a research report on Thursday, May 1st. Finally, Citigroup increased their price objective on shares of Meta Platforms from $690.00 to $803.00 and gave the company a "buy" rating in a research report on Tuesday, June 24th. Five research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms has an average rating of "Moderate Buy" and an average target price of $727.95.

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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