CIBC Asset Management Inc Has $437.96 Million Position in Meta Platforms, Inc. $META

CIBC Asset Management Inc lifted its holdings in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 7.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 596,364 shares of the social networking company’s stock after purchasing an additional 42,078 shares during the quarter. Meta Platforms comprises 1.3% of CIBC Asset Management Inc’s holdings, making the stock its 21st biggest position. CIBC Asset Management Inc’s holdings in Meta Platforms were worth $437,955,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of META. Bare Financial Services Inc bought a new stake in Meta Platforms in the 2nd quarter valued at $30,000. Briaud Financial Planning Inc bought a new position in Meta Platforms during the 2nd quarter worth about $42,000. Knuff & Co LLC bought a new stake in shares of Meta Platforms in the second quarter valued at about $44,000. WFA Asset Management Corp boosted its position in shares of Meta Platforms by 42.6% during the second quarter. WFA Asset Management Corp now owns 67 shares of the social networking company’s stock worth $49,000 after buying an additional 20 shares during the period. Finally, Spurstone Advisory Services LLC acquired a new stake in Meta Platforms in the 2nd quarter valued at approximately $59,000. 79.91% of the stock is owned by institutional investors.

More Meta Platforms News

Here are the key news stories impacting Meta Platforms this week:

Meta Platforms Stock Down 1.4%

Shares of META stock opened at $706.41 on Tuesday. Meta Platforms, Inc. has a 52-week low of $479.80 and a 52-week high of $796.25. The stock has a market cap of $1.78 trillion, a price-to-earnings ratio of 30.06, a PEG ratio of 1.36 and a beta of 1.28. The firm’s 50-day moving average is $653.93 and its 200-day moving average is $696.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.60 and a current ratio of 2.60.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its quarterly earnings results on Wednesday, January 28th. The social networking company reported $8.88 EPS for the quarter, topping analysts’ consensus estimates of $8.16 by $0.72. The business had revenue of $59.89 billion during the quarter, compared to analysts’ expectations of $58.33 billion. Meta Platforms had a return on equity of 38.61% and a net margin of 30.08%.Meta Platforms’s quarterly revenue was up 23.8% on a year-over-year basis. During the same quarter last year, the company posted $8.02 earnings per share. Sell-side analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 23rd. Investors of record on Monday, December 15th were issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, December 15th. Meta Platforms’s dividend payout ratio (DPR) is presently 8.94%.

Insider Activity at Meta Platforms

In other news, insider Jennifer Newstead sold 519 shares of Meta Platforms stock in a transaction on Tuesday, December 30th. The stock was sold at an average price of $658.69, for a total transaction of $341,860.11. Following the completion of the sale, the insider owned 28,658 shares of the company’s stock, valued at approximately $18,876,738.02. This trade represents a 1.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Javier Olivan sold 517 shares of Meta Platforms stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $665.00, for a total transaction of $343,805.00. Following the completion of the sale, the chief operating officer owned 10,132 shares of the company’s stock, valued at $6,737,780. This trade represents a 4.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 39,077 shares of company stock worth $23,955,958 in the last ninety days. 13.61% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on META shares. Wolfe Research reaffirmed an “outperform” rating and set a $850.00 price target (up from $800.00) on shares of Meta Platforms in a research note on Thursday. Piper Sandler raised their target price on shares of Meta Platforms from $840.00 to $880.00 and gave the company an “overweight” rating in a research report on Thursday. Royal Bank Of Canada reiterated an “outperform” rating and issued a $810.00 price target on shares of Meta Platforms in a research note on Thursday, January 29th. Wedbush increased their price objective on shares of Meta Platforms from $880.00 to $900.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Meta Platforms in a report on Monday, December 29th. Five research analysts have rated the stock with a Strong Buy rating, forty-one have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $848.50.

View Our Latest Report on META

Meta Platforms Company Profile

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

Recommended Stories

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

Receive News & Ratings for Meta Platforms Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meta Platforms and related companies with MarketBeat.com's FREE daily email newsletter.