TD Asset Management Inc Has $1.59 Billion Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

TD Asset Management Inc grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 22.6% in the 1st quarter, Holdings Channel.com reports. The fund owned 3,270,056 shares of the social networking company’s stock after purchasing an additional 601,743 shares during the period. Meta Platforms makes up about 1.5% of TD Asset Management Inc’s holdings, making the stock its 10th biggest holding. TD Asset Management Inc’s holdings in Meta Platforms were worth $1,587,874,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake 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 during the last quarter. Capital World Investors raised its stake in Meta Platforms by 2.5% during the fourth quarter. Capital World Investors now owns 38,054,513 shares of the social networking company’s stock worth $13,469,906,000 after buying an additional 927,491 shares during the last quarter. Capital International Investors raised its stake in Meta Platforms by 3.2% during the fourth quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock worth $12,296,383,000 after buying an additional 1,083,719 shares during the last quarter. Norges Bank bought a new position in Meta Platforms during the fourth quarter worth $11,285,855,000. Finally, Capital Research Global Investors raised 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 worth $10,695,722,000 after buying an additional 4,440,229 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of META stock traded up $5.66 during trading on Thursday, reaching $467.65. 9,989,348 shares of the company’s stock traded hands, compared to its average volume of 16,205,480. The company has a market capitalization of $1.19 trillion, a P/E ratio of 26.88, a PEG ratio of 1.27 and a beta of 1.21. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The firm’s 50-day moving average is $493.38 and its 200 day moving average is $469.42. Meta Platforms, Inc. has a 1 year low of $274.38 and a 1 year high of $542.81.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The business had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. Equities research analysts expect that Meta Platforms, Inc. will post 20.21 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s dividend payout ratio is presently 11.49%.

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $501.42, for a total value of $453,785.10. Following the sale, the insider now directly owns 36,035 shares in the company, valued at approximately $18,068,669.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $501.42, for a total value of $453,785.10. Following the transaction, the insider now owns 36,035 shares of the company’s stock, valued at approximately $18,068,669.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Javier Olivan sold 490 shares of the stock in a transaction on Friday, April 19th. The stock was sold at an average price of $501.18, for a total transaction of $245,578.20. Following the completion of the transaction, the chief operating officer now directly owns 7,089 shares in the company, valued at approximately $3,552,865.02. The disclosure for this sale can be found here. Insiders have sold 311,596 shares of company stock worth $154,788,523 in the last three months. 13.71% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on META shares. Piper Sandler reissued an “overweight” rating and set a $545.00 target price (down previously from $600.00) on shares of Meta Platforms in a research note on Thursday, April 25th. Benchmark reaffirmed a “hold” rating on shares of Meta Platforms in a research note on Monday, April 22nd. JMP Securities reaffirmed a “market outperform” rating and issued a $550.00 price target on shares of Meta Platforms in a research note on Monday, April 22nd. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Meta Platforms from $540.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Finally, KeyCorp boosted their target price on shares of Meta Platforms from $475.00 to $540.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-six have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average price target of $518.50.

About Meta Platforms

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.