Canopy Partners LLC Purchases 80 Shares of Meta Platforms, Inc. (NASDAQ:META)

Canopy Partners LLC boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,536 shares of the social networking company’s stock after acquiring an additional 80 shares during the quarter. Meta Platforms makes up approximately 2.1% of Canopy Partners LLC’s portfolio, making the stock its 13th largest holding. Canopy Partners LLC’s holdings in Meta Platforms were worth $4,886,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. increased its position in Meta Platforms by 48.8% during the first quarter. China Universal Asset Management Co. Ltd. now owns 49,191 shares of the social networking company’s stock worth $23,886,000 after buying an additional 16,138 shares during the last quarter. Cypress Asset Management Inc. TX increased its holdings in shares of Meta Platforms by 541.8% during the 1st quarter. Cypress Asset Management Inc. TX now owns 3,819 shares of the social networking company’s stock valued at $1,862,000 after acquiring an additional 3,224 shares during the last quarter. Waverly Advisors LLC raised its stake in shares of Meta Platforms by 70.4% in the 1st quarter. Waverly Advisors LLC now owns 12,663 shares of the social networking company’s stock valued at $6,149,000 after acquiring an additional 5,230 shares in the last quarter. Industrial Alliance Investment Management Inc. lifted its holdings in Meta Platforms by 8.5% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 5,873 shares of the social networking company’s stock worth $2,852,000 after purchasing an additional 461 shares during the last quarter. Finally, In Depth Partners LLC boosted its position in Meta Platforms by 2.8% during the first quarter. In Depth Partners LLC now owns 28,841 shares of the social networking company’s stock worth $14,005,000 after purchasing an additional 780 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 7,975 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $516.36, for a total transaction of $4,117,971.00. Following the sale, the chief executive officer now directly owns 531,884 shares of the company’s stock, valued at $274,643,622.24. The trade was a 1.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Javier Olivan sold 620 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $557.00, for a total value of $345,340.00. Following the transaction, the chief operating officer now directly owns 19,992 shares of the company’s stock, valued at $11,135,544. This trade represents a 3.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 152,141 shares of company stock valued at $83,390,497. 13.71% of the stock is owned by insiders.

Meta Platforms Price Performance

Shares of META opened at $559.14 on Monday. The stock has a 50 day simple moving average of $572.74 and a 200 day simple moving average of $524.71. Meta Platforms, Inc. has a 52-week low of $313.66 and a 52-week high of $602.95. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The firm has a market capitalization of $1.41 trillion, a PE ratio of 26.34, a P/E/G ratio of 1.25 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share 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 company had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Sell-side analysts predict that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.36%. Meta Platforms’s payout ratio is presently 9.42%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on META shares. Oppenheimer lifted their price target on shares of Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Piper Sandler lifted their target price on shares of Meta Platforms from $575.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Robert W. Baird upped their price target on shares of Meta Platforms from $605.00 to $630.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Sanford C. Bernstein raised their price target on Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Finally, DA Davidson assumed coverage on Meta Platforms in a research report on Tuesday, September 10th. They set a “buy” rating and a $600.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $634.10.

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.