Meta Platforms, Inc. (NASDAQ:META) Stock Holdings Lifted by Greenline Partners LLC

Greenline Partners LLC raised its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 106.0% in the fourth quarter, Holdings Channel reports. The firm owned 13,735 shares of the social networking company’s stock after buying an additional 7,069 shares during the period. Meta Platforms accounts for 1.1% of Greenline Partners LLC’s investment portfolio, making the stock its 24th largest holding. Greenline Partners LLC’s holdings in Meta Platforms were worth $8,042,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Millstone Evans Group LLC bought a new stake in Meta Platforms in the fourth quarter worth approximately $40,000. Avondale Wealth Management acquired a new position in Meta Platforms during the fourth quarter worth $41,000. WealthTrak Capital Management LLC bought a new position in Meta Platforms during the fourth quarter valued at about $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Meta Platforms in the fourth quarter worth about $45,000. Finally, Cordant Inc. bought a new stake in shares of Meta Platforms during the 4th quarter worth about $59,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Down 0.9 %

Shares of NASDAQ META opened at $592.49 on Friday. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $740.91. The firm’s 50-day moving average is $568.87 and its 200-day moving average is $604.22. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $1.50 trillion, a PE ratio of 24.77, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping analysts’ consensus estimates of $5.33 by $1.10. The firm had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The business’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.71 EPS. Equities analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were issued a dividend of $0.525 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a yield of 0.35%. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio (DPR) is 8.19%.

Insider Transactions at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 4,706 shares of the stock in a transaction on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total value of $3,466,769.02. Following the sale, the chief operating officer now directly owns 20,935 shares in the company, valued at approximately $15,422,186.45. This trade represents a 18.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Andrew Bosworth sold 5,060 shares of the business’s stock in a transaction on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total transaction of $3,727,550.20. Following the completion of the transaction, the chief technology officer now directly owns 5,139 shares of the company’s stock, valued at $3,785,747.13. This trade represents a 49.61 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 155,689 shares of company stock worth $109,097,842. 13.71% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

META has been the subject of several analyst reports. Piper Sandler boosted their target price on Meta Platforms from $610.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. Tigress Financial restated a “strong-buy” rating on shares of Meta Platforms in a research note on Tuesday, February 11th. Cantor Fitzgerald raised their target price on shares of Meta Platforms from $624.00 to $676.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. Jefferies Financial Group cut their target price on shares of Meta Platforms from $725.00 to $600.00 and set a “buy” rating for the company in a research report on Monday, April 7th. Finally, Bank of America raised their price target on Meta Platforms from $640.00 to $690.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $696.45.

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.