Fiera Capital Corp Raises Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Fiera Capital Corp lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 35.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,272 shares of the social networking company’s stock after purchasing an additional 7,089 shares during the quarter. Fiera Capital Corp’s holdings in Meta Platforms were worth $13,751,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in META. Vantage Financial Partners LLC raised its holdings in Meta Platforms by 3.2% in the fourth quarter. Vantage Financial Partners LLC now owns 1,323 shares of the social networking company’s stock valued at $468,000 after acquiring an additional 41 shares in the last quarter. Concentrum Wealth Management lifted its position in shares of Meta Platforms by 111.0% during 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. Aveo Capital Partners LLC grew its stake in shares of Meta Platforms by 45.7% during the fourth quarter. Aveo Capital Partners LLC now owns 2,302 shares of the social networking company’s stock worth $815,000 after purchasing an additional 722 shares in the last quarter. 9258 Wealth Management LLC increased its holdings in Meta Platforms by 66.4% in the fourth quarter. 9258 Wealth Management LLC now owns 3,993 shares of the social networking company’s stock valued at $1,413,000 after buying an additional 1,594 shares during the last quarter. Finally, Rollins Financial raised its stake in Meta Platforms by 7.5% in the fourth quarter. Rollins Financial now owns 30,657 shares of the social networking company’s stock valued at $10,851,000 after buying an additional 2,133 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $500.57, for a total value of $453,015.85. Following the transaction, the insider now owns 37,845 shares in the company, valued at approximately $18,944,071.65. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, COO Javier Olivan sold 412 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $463.00, for a total transaction of $190,756.00. Following the completion of the sale, the chief operating officer now owns 5,559 shares of the company’s stock, valued at approximately $2,573,817. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $500.57, for a total transaction of $453,015.85. Following the transaction, the insider now directly owns 37,845 shares in the company, valued at $18,944,071.65. The disclosure for this sale can be found here. Over the last quarter, insiders sold 325,656 shares of company stock valued at $171,028,659. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

NASDAQ META opened at $567.36 on Monday. The business has a fifty day moving average of $516.19 and a 200-day moving average of $499.63. Meta Platforms, Inc. has a fifty-two week low of $279.40 and a fifty-two week high of $577.40. The stock has a market cap of $1.44 trillion, a price-to-earnings ratio of 32.59, a price-to-earnings-growth ratio of 1.39 and a beta of 1.21. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data 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 analysts’ expectations of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business’s revenue was up 22.1% on a year-over-year basis. During the same quarter last year, the firm earned $3.23 earnings per share. As a group, analysts predict that Meta Platforms, Inc. will post 21.36 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business 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 yield of 0.35%. Meta Platforms’s payout ratio is 11.49%.

Analyst Ratings Changes

A number of research analysts have recently commented on META shares. Tigress Financial increased their price objective on Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a report on Friday, August 16th. Roth Mkm upped their price target on Meta Platforms from $510.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Wedbush reaffirmed an “outperform” rating and set a $600.00 price target on shares of Meta Platforms in a report on Thursday. Stifel Nicolaus boosted their price objective on shares of Meta Platforms from $550.00 to $590.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Guggenheim raised their target price on shares of Meta Platforms from $500.00 to $600.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-four have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $591.23.

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.