TD Asset Management Inc. Has $2.12 Billion Stake in Meta Platforms, Inc. (NASDAQ:META)

TD Asset Management Inc. boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,618,903 shares of the social networking company’s stock after acquiring an additional 123,190 shares during the period. Meta Platforms makes up approximately 1.9% of TD Asset Management Inc.’s holdings, making the stock its 6th largest holding. TD Asset Management Inc.’s holdings in Meta Platforms were worth $2,118,904,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Howard Capital Management Group LLC lifted its holdings in shares of Meta Platforms by 17.9% during the 3rd quarter. Howard Capital Management Group LLC now owns 1,652 shares of the social networking company’s stock worth $946,000 after acquiring an additional 251 shares during the period. Principal Financial Group Inc. raised its position in Meta Platforms by 6.5% in the third quarter. Principal Financial Group Inc. now owns 3,368,361 shares of the social networking company’s stock worth $1,928,185,000 after purchasing an additional 204,412 shares in the last quarter. United Bank lifted its stake in Meta Platforms by 22.2% during the third quarter. United Bank now owns 5,569 shares of the social networking company’s stock worth $3,188,000 after purchasing an additional 1,011 shares during the period. Algert Global LLC acquired a new stake in Meta Platforms during the third quarter valued at approximately $6,885,000. Finally, KKM Financial LLC grew its stake in shares of Meta Platforms by 8.1% in the 3rd quarter. KKM Financial LLC now owns 13,130 shares of the social networking company’s stock valued at $7,516,000 after purchasing an additional 988 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Trading Up 1.2 %

NASDAQ META opened at $626.31 on Wednesday. Meta Platforms, Inc. has a 12 month low of $414.50 and a 12 month high of $740.91. The stock has a 50-day simple moving average of $656.24 and a 200 day simple moving average of $608.00. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $1.59 trillion, a PE ratio of 26.18, a P/E/G ratio of 1.42 and a beta of 1.23.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same period in the previous year, the firm posted $5.33 earnings per share. Research 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. Shareholders of record on Friday, March 14th will be issued a $0.525 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a yield of 0.34%. Meta Platforms’s dividend payout ratio (DPR) is 8.78%.

Insider Transactions at Meta Platforms

In other news, insider Christopher K. Cox sold 20,000 shares of Meta Platforms stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $677.71, for a total transaction of $13,554,200.00. Following the transaction, the insider now owns 308,686 shares in the company, valued at $209,199,589.06. The trade was a 6.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 2,311 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $600.21, for a total transaction of $1,387,085.31. The disclosure for this sale can be found here. Insiders have sold a total of 585,605 shares of company stock valued at $386,710,448 over the last three months. 13.71% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

META has been the subject of several analyst reports. BMO Capital Markets raised their target price on Meta Platforms from $530.00 to $610.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Argus set a $775.00 price objective on Meta Platforms in a report on Tuesday, February 4th. Morgan Stanley upped their target price on shares of Meta Platforms from $600.00 to $660.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a report on Monday, January 27th. Finally, UBS Group upped their price objective on shares of Meta Platforms from $736.00 to $786.00 and gave the stock a “buy” 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 given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.