BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $338.80 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its position in Meta Platforms, Inc. (NASDAQ:META) by 11.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 591,848 shares of the social networking company’s stock after selling 76,917 shares during the quarter. Meta Platforms accounts for 2.0% of BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s portfolio, making the stock its 7th largest position. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Meta Platforms were worth $338,797,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of META. Encompass More Asset Management raised its stake in Meta Platforms by 155.2% during the third quarter. Encompass More Asset Management now owns 2,077 shares of the social networking company’s stock worth $1,189,000 after acquiring an additional 1,263 shares in the last quarter. Edgestream Partners L.P. grew its holdings in shares of Meta Platforms by 313.0% during the third quarter. Edgestream Partners L.P. now owns 29,665 shares of the social networking company’s stock worth $16,981,000 after purchasing an additional 22,483 shares during the last quarter. L.M. Kohn & Company grew its holdings in shares of Meta Platforms by 11.7% during the third quarter. L.M. Kohn & Company now owns 3,279 shares of the social networking company’s stock worth $1,877,000 after purchasing an additional 343 shares during the last quarter. Kolinsky Wealth Management LLC boosted its holdings in Meta Platforms by 7.1% in the third quarter. Kolinsky Wealth Management LLC now owns 3,720 shares of the social networking company’s stock valued at $2,130,000 after acquiring an additional 247 shares during the last quarter. Finally, Harvard Management Co. Inc. boosted its holdings in Meta Platforms by 57.0% in the third quarter. Harvard Management Co. Inc. now owns 1,190,381 shares of the social networking company’s stock valued at $681,422,000 after acquiring an additional 431,996 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

META has been the topic of a number of recent analyst reports. Hsbc Global Res upgraded Meta Platforms to a “hold” rating in a report on Thursday, October 24th. Loop Capital raised their target price on Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Guggenheim raised their target price on Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $670.00 price target on shares of Meta Platforms in a research report on Wednesday, October 16th. Finally, The Goldman Sachs Group raised their price target on Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $634.71.

Insider Activity at Meta Platforms

In other news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was 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 directly owns 37,790 shares of the company’s stock, valued at $21,362,687. This trade represents a 2.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Aaron Anderson sold 731 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $407,167.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,414 shares of the company’s stock, valued at $1,901,598. The trade was a 17.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 106,239 shares of company stock valued at $59,681,541. 13.71% of the stock is owned by insiders.

Meta Platforms Stock Up 0.9 %

Shares of Meta Platforms stock opened at $574.32 on Friday. Meta Platforms, Inc. has a one year low of $313.66 and a one year high of $602.95. 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 stock’s 50-day moving average is $575.21 and its 200 day moving average is $527.37. The firm has a market cap of $1.45 trillion, a price-to-earnings ratio of 27.05, a PEG ratio of 1.25 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping the consensus estimate of $5.19 by $0.84. The firm had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. Equities research analysts anticipate that Meta Platforms, Inc. will post 22.62 EPS for the current year.

Meta Platforms Announces Dividend

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

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.