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

Addenda Capital Inc. lessened its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. International Assets Investment Management LLC raised its position in shares of Meta Platforms by 57,001.5% in the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after acquiring an additional 9,500,444 shares in the last quarter. Integrated Investment Consultants LLC raised its holdings in Meta Platforms by 61,769.3% in the third quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock worth $2,365,820,000 after purchasing an additional 4,126,190 shares in the last quarter. World Investment Advisors LLC lifted its position in Meta Platforms by 4,658.5% during the third quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock valued at $520,662,000 after buying an additional 890,434 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Meta Platforms by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock valued at $27,470,870,000 after buying an additional 698,884 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Meta Platforms by 926.6% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 733,358 shares of the social networking company’s stock worth $369,774,000 after acquiring an additional 661,923 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on META shares. TD Cowen upped their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Stifel Nicolaus raised their price objective on Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Hsbc Global Res raised Meta Platforms to a “hold” rating in a report on Thursday, October 24th. Monness Crespi & Hardt raised their price target on Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Morgan Stanley upped their price target on shares of Meta Platforms from $600.00 to $660.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Two investment 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 issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $652.98.

Meta Platforms Stock Up 1.1 %

META opened at $623.50 on Thursday. The company has a market capitalization of $1.57 trillion, a PE ratio of 29.37, a price-to-earnings-growth ratio of 1.16 and a beta of 1.19. The firm has a 50-day simple moving average of $598.87 and a two-hundred day simple moving average of $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 released its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The business had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. Analysts forecast that Meta Platforms, Inc. will post 22.96 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date was Monday, December 16th. Meta Platforms’s dividend payout ratio (DPR) is 9.42%.

Insider Activity

In related news, COO Javier Olivan sold 413 shares of the business’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $574.16, for a total transaction of $237,128.08. Following the completion of the transaction, the chief operating officer now owns 10,707 shares in the company, valued at $6,147,531.12. The trade was a 3.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 35,921 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $633.25, for a total value of $22,746,973.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 567,111 shares of company stock valued at $345,453,784. 13.71% of the stock is currently owned by insiders.

Meta Platforms Company 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.