Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 971,497 shares of the social networking company’s stock after purchasing an additional 3,040 shares during the period. Mackenzie Financial Corp’s holdings in Meta Platforms were worth $489,848,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of META. Capital Research Global Investors boosted its stake in Meta Platforms by 17.2% during the fourth quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock valued at $10,695,722,000 after buying an additional 4,440,229 shares in the last quarter. Concentrum Wealth Management grew its stake in shares of Meta Platforms by 111.0% in the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after purchasing an additional 3,888,308 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Meta Platforms by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock worth $65,960,215,000 after buying an additional 3,104,550 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of Meta Platforms by 24.7% in the first quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock valued at $6,733,731,000 after buying an additional 2,748,620 shares in the last quarter. Finally, Sustainable Growth Advisers LP bought a new stake in shares of Meta Platforms during the 2nd quarter worth $595,152,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Benchmark restated a “hold” rating on shares of Meta Platforms in a report on Thursday, July 25th. Robert W. Baird raised their price objective on shares of Meta Platforms from $530.00 to $605.00 and gave the stock an “outperform” rating in a research note on Thursday. Rosenblatt Securities increased their target price on Meta Platforms from $643.00 to $811.00 and gave the company a “buy” rating in a report on Thursday. Citigroup raised their target price on Meta Platforms from $580.00 to $645.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $570.00 price target on shares of Meta Platforms in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-four have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $591.23.

Insider Activity at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total transaction of $17,101,342.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Jennifer Newstead sold 901 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $451.15, for a total transaction of $406,486.15. Following the completion of the transaction, the insider now directly owns 33,324 shares of the company’s stock, valued at $15,034,122.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Susan J. Li sold 33,018 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 342,358 shares of company stock valued at $179,431,101. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Price Performance

Shares of META stock opened at $567.84 on Friday. The firm’s 50 day moving average price is $514.38 and its two-hundred day moving average price is $499.02. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. Meta Platforms, Inc. has a 52-week low of $279.40 and a 52-week high of $577.40. The stock has a market cap of $1.44 trillion, a PE ratio of 32.62, a PEG ratio of 1.39 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.46. The business had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The firm’s revenue was up 22.1% on a year-over-year basis. During the same period last year, the company earned $3.23 EPS. As a group, analysts forecast that Meta Platforms, Inc. will post 21.36 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is 11.49%.

Meta Platforms 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.