Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Greenleaf Trust

Greenleaf Trust trimmed its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 5.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 117,470 shares of the social networking company’s stock after selling 6,883 shares during the period. Meta Platforms comprises 0.4% of Greenleaf Trust’s investment portfolio, making the stock its 15th largest position. Greenleaf Trust’s holdings in Meta Platforms were worth $41,580,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in Meta Platforms during the 4th quarter valued at $4,223,148,000. Morgan Stanley bought a new position in shares of Meta Platforms during the fourth quarter worth about $4,072,543,000. Moneta Group Investment Advisors LLC acquired a new position in Meta Platforms in the fourth quarter worth about $1,796,633,000. Legal & General Group Plc bought a new stake in Meta Platforms in the fourth quarter valued at about $1,731,491,000. Finally, FMR LLC raised its stake in Meta Platforms by 4.0% during the third quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock valued at $39,270,443,000 after buying an additional 5,001,647 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on META. JPMorgan Chase & Co. lifted their target price on Meta Platforms from $420.00 to $535.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. Wedbush increased their target price on shares of Meta Platforms from $420.00 to $520.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Evercore ISI lifted their price target on shares of Meta Platforms from $425.00 to $550.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Canaccord Genuity Group increased their price objective on shares of Meta Platforms from $580.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Bank of America lifted their target price on Meta Platforms from $425.00 to $510.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-eight have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $519.53.

Meta Platforms Trading Down 4.1 %

Shares of META opened at $481.07 on Friday. The business’s 50-day moving average price is $494.55 and its 200 day moving average price is $398.64. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $1.23 trillion, a P/E ratio of 32.29, a P/E/G ratio of 1.27 and a beta of 1.20. Meta Platforms, Inc. has a 1-year low of $207.13 and a 1-year high of $531.49.

Meta Platforms (NASDAQ:META) last released its earnings results on Thursday, February 1st. The social networking company reported $5.33 earnings per share for the quarter, topping the consensus estimate of $4.82 by $0.51. The business had revenue of $40.11 billion for the quarter, compared to the consensus estimate of $39.12 billion. Meta Platforms had a net margin of 28.98% and a return on equity of 29.48%. The firm’s quarterly revenue was up 24.7% compared to the same quarter last year. During the same period last year, the firm posted $3.00 earnings per share. Analysts expect that Meta Platforms, Inc. will post 20.18 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd were issued a $0.50 dividend. The ex-dividend date was Wednesday, February 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.42%. Meta Platforms’s payout ratio is currently 13.42%.

Insider Activity

In other Meta Platforms news, COO Javier Olivan sold 9,000 shares of the firm’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $388.90, for a total transaction of $3,500,100.00. Following the completion of the sale, the chief operating officer now directly owns 79,935 shares in the company, valued at approximately $31,086,721.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Meta Platforms news, CEO Mark Zuckerberg sold 97,093 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $469.67, for a total value of $45,601,669.31. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Javier Olivan sold 9,000 shares of the firm’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $388.90, for a total value of $3,500,100.00. Following the sale, the chief operating officer now directly owns 79,935 shares of the company’s stock, valued at $31,086,721.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,421,182 shares of company stock worth $677,574,550. 13.75% of the stock is owned by corporate insiders.

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.