Meta Platforms, Inc. (NASDAQ:META) Stock Holdings Lifted by Canvas Wealth Advisors LLC

Canvas Wealth Advisors LLC grew its stake in Meta Platforms, Inc. (NASDAQ:META) by 6.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,013 shares of the social networking company’s stock after buying an additional 249 shares during the period. Canvas Wealth Advisors LLC’s holdings in Meta Platforms were worth $2,350,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in META. International Assets Investment Management LLC lifted its position in shares of Meta Platforms by 57,001.5% during 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 purchasing an additional 9,500,444 shares during the last quarter. Integrated Investment Consultants LLC grew its stake in shares of Meta Platforms by 61,769.3% in the 3rd quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock valued at $2,365,820,000 after purchasing an additional 4,126,190 shares during the period. Strategic Financial Concepts LLC grew its stake in shares of Meta Platforms by 87,269.8% in the 4th quarter. Strategic Financial Concepts LLC now owns 1,067,659 shares of the social networking company’s stock valued at $625,125,000 after purchasing an additional 1,066,437 shares during the period. World Investment Advisors LLC grew its position in Meta Platforms by 4,658.5% during the 3rd quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock worth $520,662,000 after acquiring an additional 890,434 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in 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 worth $27,470,870,000 after buying an additional 698,884 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Buying and Selling

In other Meta Platforms news, CEO Mark Zuckerberg sold 55,589 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $717.72, for a total value of $39,897,337.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 902 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $713.32, for a total transaction of $643,414.64. Following the transaction, the insider now directly owns 27,488 shares of the company’s stock, valued at $19,607,740.16. This represents a 3.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 793,070 shares of company stock worth $504,185,108 in the last quarter. Insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Susquehanna upped their price objective on Meta Platforms from $675.00 to $800.00 and gave the stock a “positive” rating in a report on Thursday, January 30th. Mizuho raised their price objective on Meta Platforms from $675.00 to $750.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. BMO Capital Markets lifted their price target on Meta Platforms from $530.00 to $610.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. Scotiabank raised their price objective on shares of Meta Platforms from $583.00 to $627.00 and gave the stock a “sector perform” rating in a research report on Thursday, January 30th. Finally, Sanford C. Bernstein raised their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $717.90.

Meta Platforms Price Performance

META stock opened at $736.67 on Friday. The firm has a market cap of $1.87 trillion, a price-to-earnings ratio of 30.80, a PEG ratio of 1.46 and a beta of 1.20. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 12-month low of $414.50 and a 12-month high of $740.91. The company’s fifty day simple moving average is $638.73 and its 200 day simple moving average is $583.52.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, beating the consensus estimate of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same quarter last year, the company earned $5.33 EPS. On average, analysts expect that Meta Platforms, Inc. will post 26.66 earnings per share for the current year.

Meta Platforms Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date is Friday, March 14th. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio is currently 8.36%.

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.