Meta Platforms, Inc. (NASDAQ:META) is TD Asset Management Inc.’s seventh largest holding.

VaselineSeptember 9, 2024

0 5 minutes read

TD Asset Management Inc increased its holdings in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 4.5% in the second quarter, Holdings Channel reports. The institutional investor owned 3,418,341 shares of the social networking company’s stock after purchasing an additional 148,285 shares during the period. Meta Platforms makes up about 1.6% of TD Asset Management Inc’s portfolio, making the stock its 7th biggest position. TD Asset Management Inc’s holdings in Meta Platforme were worth $1,723,596,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $11,285,855,000. Capital Research Global Investors grew its holdings in shares of Meta Platforms by 17.2% during the 4th quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock worth $10,695,722,000 after bought another 4,440,229 shares during the period. Concentrum Wealth Management grew its holdings in shares of Meta Platforms by 111.0% during the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after buying another 3,888,308 shares during that period. Vanguard Group Inc. raised its holdings in shares of Meta Platforms by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock worth $65,960,215,000 after buying an additional 3,104,550 shares during the period. Finally, Jennison Associates LLC boosted its holdings in shares of Meta Platforms by 24.7% in the 1st quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock worth $6,733,731,000 after purchasing an additional 2,748,620 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s shares.

Insider buying and selling

In other news, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $503.18, for a total value of $8,404,112.36. Following the completion of the transaction, the chief executive officer now owns 301,478 shares of the company’s stock, valued at $151,697,700.04. The transaction was disclosed in a filing with the SEC, which is available on the SEC’s website. In other news, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $503.18, for a total value of $8,404,112.36. Following the completion of the transaction, the chief executive officer now owns 301,478 shares of the company’s stock, valued at $151,697,700.04. The transaction was disclosed in a filing with the SEC, which is available on the SEC’s website. Also, COO Javier Olivan sold 413 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $536.92, for a total value of $221,747.96. Following the completion of the transaction, the chief operating officer now directly owns 14,424 shares of the company’s stock, valued at approximately $7,744,534.08. The disclosure for this sale can be found here. Insiders have sold a total of 390,977 shares of company stock worth $202,384,548 over the last three months. 13.71% of shares are owned by insiders.

Analysts on Wall Street are forecasting an increase

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A number of equities analysts have covered the company. Raymond James boosted their target price on Meta Platforms from $550.00 to $600.00 and gave the stock a “strong-buy” rating in a report on Monday, July 1st. Citigroup boosted their target price on Meta Platforms from $550.00 to $580.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Stifel Nicolaus boosted their target price on Meta Platforms from $550.00 to $590.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Loop Capital boosted their target price on Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-three have assigned a buy rating and two have issued a strong buy rating to the company. Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $576.66, according to MarketBeat.com.

Get the latest stock report on meta platforms

Price performance of meta platforms

Shares of META opened at $500.27 on Monday. The company has a market cap of $1.27 trillion, a P/E ratio of 28.73, a PEG ratio of 1.29 and a beta of 1.21. The stock has a fifty day moving average price of $505.18 and a 200 day moving average price of $494.46. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83, and a quick ratio of 2.83. Meta Platforms, Inc. has a 12-month low of $279.40 and a 12-month high of $544.23.

Meta Platforms (NASDAQ:META – Get Free Report ) last posted its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The firm had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company’s revenue increased by 22.1% year-over-year. During the same period in the prior year, the business earned $3.23 EPS. On average, research analysts estimate that Meta Platforms, Inc. will post 21.3 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Monday, September 16th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, September 16. This represents a dividend of $2.00 on an annualized basis and a yield of 0.40%. Meta Platforms’ payout ratio is currently 11.49%.

Platform meta profile

(Free report)

Meta Platforms, Inc is committed to developing products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets and wearables around the world. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which allows people to share, chat, discover and connect with interests; Instagram, a community for sharing photos, videos and private messages, as well as feeds, stories, movies, videos, live and shops; Messenger, a messaging app for people to connect with friends, family, communities and businesses across platforms and devices through text, audio and video calls; and WhatsApp, a messaging app that is used by people and businesses to communicate and transact privately.