Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 11.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,910,940 shares of the social networking company’s stock after buying an additional 198,935 shares during the period. Meta Platforms comprises 2.2% of Caisse DE Depot ET Placement DU Quebec’s investment portfolio, making the stock its 6th largest position. Caisse DE Depot ET Placement DU Quebec owned 0.08% of Meta Platforms worth $1,093,898,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of META. Jennison Associates LLC boosted its stake in shares of Meta Platforms by 1.9% in the third quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock valued at $8,266,531,000 after purchasing an additional 263,063 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Meta Platforms by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock valued at $7,915,451,000 after buying an additional 118,298 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Meta Platforms by 57,001.5% during the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock valued at $5,447,975,000 after acquiring an additional 9,500,444 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Meta Platforms by 2.8% during the second quarter. Dimensional Fund Advisors LP now owns 7,754,450 shares of the social networking company’s stock worth $3,911,029,000 after acquiring an additional 208,677 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its stake in shares of Meta Platforms by 4.6% in the third quarter. Fisher Asset Management LLC now owns 6,565,134 shares of the social networking company’s stock worth $3,758,146,000 after acquiring an additional 289,207 shares in the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Stock Performance

META opened at $574.32 on Friday. The business has a 50 day moving average price of $575.21 and a two-hundred day moving average price of $527.37. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The company has a market capitalization of $1.45 trillion, a price-to-earnings ratio of 27.05, a price-to-earnings-growth ratio of 1.25 and a beta of 1.22. Meta Platforms, Inc. has a 1-year low of $313.66 and a 1-year high of $602.95.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data 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. The business had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. Research analysts predict that Meta Platforms, Inc. will post 22.62 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were issued a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. Meta Platforms’s payout ratio is currently 9.42%.

Insider Activity at Meta Platforms

In other news, COO Javier Olivan sold 413 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $520.57, for a total transaction of $214,995.41. Following the sale, the chief operating officer now directly owns 13,185 shares of the company’s stock, valued at $6,863,715.45. The trade was a 3.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $565.30, for a total value of $511,596.50. Following the completion of the transaction, the insider now owns 37,790 shares of the company’s stock, valued at $21,362,687. This trade represents a 2.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 106,239 shares of company stock valued at $59,681,541 over the last ninety days. Insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on META shares. JPMorgan Chase & Co. upped their target price on Meta Platforms from $640.00 to $660.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a research note on Thursday, October 31st. Scotiabank decreased their price objective on shares of Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating for the company in a report on Thursday, October 31st. Stifel Nicolaus upped their target price on shares of Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, The Goldman Sachs Group lifted their price target on Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $634.71.

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.