TD Asset Management Inc. Has $1.21 Billion Stake in Meta Platforms, Inc. (NASDAQ:META)

TD Asset Management Inc. decreased its holdings in shares of Meta Platforms, Inc. (NASDAQ:METAGet Rating) by 11.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 5,451,659 shares of the social networking company’s stock after selling 673,091 shares during the period. Meta Platforms accounts for approximately 1.1% of TD Asset Management Inc.’s portfolio, making the stock its 18th biggest position. TD Asset Management Inc.’s holdings in Meta Platforms were worth $1,212,231,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. StrategIQ Financial Group LLC lifted its stake in Meta Platforms by 4.2% in the first quarter. StrategIQ Financial Group LLC now owns 1,600 shares of the social networking company’s stock valued at $356,000 after acquiring an additional 65 shares during the last quarter. Kestra Advisory Services LLC lifted its stake in Meta Platforms by 13.0% in the first quarter. Kestra Advisory Services LLC now owns 119,204 shares of the social networking company’s stock valued at $26,506,000 after acquiring an additional 13,727 shares during the last quarter. Cabot Wealth Management Inc. lifted its stake in Meta Platforms by 0.6% in the first quarter. Cabot Wealth Management Inc. now owns 9,474 shares of the social networking company’s stock valued at $2,107,000 after acquiring an additional 60 shares during the last quarter. EFG Asset Management North America Corp. acquired a new stake in Meta Platforms in the fourth quarter valued at $7,032,000. Finally, Pacer Advisors Inc. lifted its stake in Meta Platforms by 149.1% in the first quarter. Pacer Advisors Inc. now owns 506,232 shares of the social networking company’s stock valued at $112,566,000 after acquiring an additional 303,001 shares during the last quarter. Institutional investors and hedge funds own 65.49% of the company’s stock.

Meta Platforms Stock Down 2.6 %

Meta Platforms stock traded down $4.58 during mid-day trading on Wednesday, hitting $174.89. 446,445 shares of the stock were exchanged, compared to its average volume of 31,058,326. Meta Platforms, Inc. has a 12 month low of $154.25 and a 12 month high of $384.33. The firm’s fifty day simple moving average is $168.32 and its two-hundred day simple moving average is $179.77. The stock has a market capitalization of $470.03 billion, a price-to-earnings ratio of 14.87, a PEG ratio of 2.40 and a beta of 1.32.

Meta Platforms (NASDAQ:METAGet Rating) last released its quarterly earnings data on Wednesday, July 27th. The social networking company reported $2.46 earnings per share for the quarter, missing the consensus estimate of $2.50 by ($0.04). The company had revenue of $28.82 billion during the quarter, compared to the consensus estimate of $28.95 billion. Meta Platforms had a net margin of 28.16% and a return on equity of 26.52%. The business’s revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.61 EPS. As a group, analysts forecast that Meta Platforms, Inc. will post 9.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on META. BMO Capital Markets dropped their price objective on shares of Meta Platforms from $290.00 to $225.00 in a research report on Friday, April 22nd. Piper Sandler lowered their price target on shares of Meta Platforms from $220.00 to $190.00 and set a “neutral” rating on the stock in a research report on Thursday, July 28th. Needham & Company LLC lowered shares of Meta Platforms from a “hold” rating to an “underperform” rating in a research report on Monday, July 11th. Barclays lowered their price target on shares of Meta Platforms from $370.00 to $280.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 5th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Meta Platforms from $265.00 to $235.00 in a research report on Thursday, July 21st. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, thirty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $257.98.

Insider Activity

In other news, insider Jennifer Newstead sold 342 shares of Meta Platforms stock in a transaction on Tuesday, May 31st. The shares were sold at an average price of $194.93, for a total value of $66,666.06. Following the completion of the sale, the insider now owns 19,799 shares in the company, valued at approximately $3,859,419.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 4,104 shares of company stock worth $702,902 in the last quarter. 13.59% of the stock is owned by corporate insiders.

Meta Platforms Company Profile

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Meta Platforms, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, wearables, and in-home devices worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment's products include Facebook, which enables people to share, 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, groups, and businesses across platforms and devices through chat, audio and video calls, and rooms; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.

See Also

Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:METAGet Rating).

Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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