Addenda Capital Inc. Sells 47 Shares of Meta Platforms, Inc. (NASDAQ:META)

Addenda Capital Inc. decreased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,544 shares of the social networking company’s stock after selling 47 shares during the quarter. Addenda Capital Inc.’s holdings in Meta Platforms were worth $9,681,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Fiera Capital Corp lifted its position in shares of Meta Platforms by 35.1% in the 2nd quarter. Fiera Capital Corp now owns 27,272 shares of the social networking company’s stock worth $13,751,000 after purchasing an additional 7,089 shares during the period. Harmony Asset Management LLC boosted its position in Meta Platforms by 55.9% during the 2nd quarter. Harmony Asset Management LLC now owns 1,624 shares of the social networking company’s stock valued at $819,000 after acquiring an additional 582 shares in the last quarter. Nippon Life Global Investors Americas Inc. increased its holdings in shares of Meta Platforms by 6.2% in the 2nd quarter. Nippon Life Global Investors Americas Inc. now owns 90,060 shares of the social networking company’s stock valued at $45,410,000 after acquiring an additional 5,250 shares during the period. J. Stern & Co. LLP raised its position in shares of Meta Platforms by 4.2% in the 2nd quarter. J. Stern & Co. LLP now owns 111,306 shares of the social networking company’s stock worth $56,123,000 after acquiring an additional 4,487 shares in the last quarter. Finally, Steel Grove Capital Advisors LLC boosted its position in Meta Platforms by 22.4% during the second quarter. Steel Grove Capital Advisors LLC now owns 2,095 shares of the social networking company’s stock valued at $1,056,000 after purchasing an additional 384 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insiders Place Their Bets

In related news, COO Javier Olivan sold 413 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $574.16, for a total transaction of $237,128.08. Following the transaction, the chief operating officer now directly owns 10,707 shares in the company, valued at approximately $6,147,531.12. The trade was a 3.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $580.10, for a total transaction of $524,990.50. Following the completion of the sale, the insider now owns 31,482 shares of the company’s stock, valued at approximately $18,262,708.20. The trade was a 2.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 567,111 shares of company stock valued at $345,453,784 in the last 90 days. 13.71% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Bank of America increased their price target on shares of Meta Platforms from $630.00 to $660.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. UBS Group raised their target price on shares of Meta Platforms from $690.00 to $719.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. The Goldman Sachs Group upped their price target on Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Morgan Stanley raised their price objective on Meta Platforms from $600.00 to $660.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Finally, Barclays upped their target price on Meta Platforms from $550.00 to $630.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average target price of $652.98.

Meta Platforms Stock Up 1.1 %

Shares of NASDAQ META opened at $623.50 on Thursday. The firm has a market cap of $1.57 trillion, a price-to-earnings ratio of 29.37, a price-to-earnings-growth ratio of 1.16 and a beta of 1.19. The company’s 50-day simple moving average is $598.87 and its 200-day simple moving average is $558.76. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 52-week low of $382.08 and a 52-week high of $638.40.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The company had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Equities analysts predict that Meta Platforms, Inc. will post 22.96 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.32%. The ex-dividend date was Monday, December 16th. Meta Platforms’s dividend payout ratio is currently 9.42%.

Meta Platforms 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.