Zurcher Kantonalbank Zurich Cantonalbank Has $312.18 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in Meta Platforms, Inc. (NASDAQ:META) by 4.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 881,961 shares of the social networking company’s stock after acquiring an additional 34,100 shares during the period. Meta Platforms accounts for approximately 1.2% of Zurcher Kantonalbank Zurich Cantonalbank’s investment portfolio, making the stock its 9th biggest position. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Meta Platforms were worth $312,179,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Stone House Investment Management LLC raised its holdings in shares of Meta Platforms by 625.0% in the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after purchasing an additional 75 shares during the period. Gilfoyle & Co LLC bought a new stake in Meta Platforms during the 4th quarter valued at $39,000. Cranbrook Wealth Management LLC grew its position in shares of Meta Platforms by 80.4% during the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after purchasing an additional 45 shares in the last quarter. Beaird Harris Wealth Management LLC grew its position in shares of Meta Platforms by 68.9% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after purchasing an additional 42 shares in the last quarter. Finally, Stephens Investment Management Group LLC purchased a new position in shares of Meta Platforms during the 2nd quarter valued at $30,000. 79.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on META. Wedbush boosted their price target on shares of Meta Platforms from $420.00 to $520.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. The Goldman Sachs Group upped their price objective on shares of Meta Platforms from $500.00 to $555.00 and gave the company a “buy” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft increased their price target on shares of Meta Platforms from $450.00 to $525.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Sanford C. Bernstein upped their price objective on shares of Meta Platforms from $435.00 to $535.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Finally, Wolfe Research upped their price objective on shares of Meta Platforms from $430.00 to $530.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $509.28.

Insider Activity

In other news, CEO Mark Zuckerberg sold 19,681 shares of the firm’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $381.77, for a total transaction of $7,513,615.37. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total transaction of $305,370.00. Following the transaction, the insider now directly owns 38,398 shares of the company’s stock, valued at $20,043,756. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 19,681 shares of Meta Platforms stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $381.77, for a total value of $7,513,615.37. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,439,788 shares of company stock valued at $684,542,792. Company insiders own 14.03% of the company’s stock.

Meta Platforms Stock Down 0.1 %

Shares of NASDAQ:META opened at $499.76 on Wednesday. Meta Platforms, Inc. has a 52-week low of $207.13 and a 52-week high of $531.49. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $1.27 trillion, a price-to-earnings ratio of 33.54, a price-to-earnings-growth ratio of 1.28 and a beta of 1.20. The company has a 50 day moving average of $493.16 and a two-hundred day moving average of $396.01.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Thursday, February 1st. The social networking company reported $5.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.82 by $0.51. The firm had revenue of $40.11 billion for the quarter, compared to analysts’ expectations of $39.12 billion. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. The firm’s revenue for the quarter was up 24.7% on a year-over-year basis. During the same period last year, the business posted $3.00 earnings per share. As a group, analysts forecast that Meta Platforms, Inc. will post 20.06 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend was Wednesday, February 21st. Meta Platforms’s dividend payout ratio (DPR) is 13.42%.

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.