Greenleaf Trust Sells 784 Shares of Meta Platforms, Inc. (NASDAQ:META)

Greenleaf Trust trimmed its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.7% in the fourth quarter, HoldingsChannel reports. The firm owned 112,715 shares of the social networking company’s stock after selling 784 shares during the period. Meta Platforms makes up 0.6% of Greenleaf Trust’s portfolio, making the stock its 14th biggest position. Greenleaf Trust’s holdings in Meta Platforms were worth $65,996,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Geode Capital Management LLC increased its stake in shares of Meta Platforms by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock valued at $27,470,870,000 after buying an additional 698,884 shares during the period. Jennison Associates LLC increased its position in Meta Platforms by 1.9% in the third quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock worth $8,266,531,000 after purchasing an additional 263,063 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Meta Platforms by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock worth $7,915,451,000 after purchasing an additional 118,298 shares during the last quarter. International Assets Investment Management LLC lifted its position in Meta Platforms by 57,001.5% during the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock valued at $5,447,975,000 after purchasing an additional 9,500,444 shares during the period. Finally, Franklin Resources Inc. boosted its stake in shares of Meta Platforms by 2.8% in the 3rd quarter. Franklin Resources Inc. now owns 6,946,755 shares of the social networking company’s stock valued at $4,101,602,000 after purchasing an additional 186,728 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 8,951 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $577.16, for a total transaction of $5,166,159.16. Following the transaction, the chief financial officer now owns 51,591 shares in the company, valued at $29,776,261.56. This represents a 14.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $562.77, for a total transaction of $232,424.01. Following the transaction, the chief operating officer now directly owns 19,579 shares in the company, valued at $11,018,473.83. This represents a 2.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 701,146 shares of company stock worth $435,387,895 over the last quarter. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

META opened at $711.99 on Friday. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The stock has a market cap of $1.80 trillion, a price-to-earnings ratio of 29.77, a PEG ratio of 1.47 and a beta of 1.20. Meta Platforms, Inc. has a 12-month low of $414.50 and a 12-month high of $718.90. The business has a 50 day moving average of $624.43 and a 200-day moving average of $572.13.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating the consensus estimate of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same period in the prior year, the company earned $5.33 EPS. On average, equities research analysts expect that Meta Platforms, Inc. will post 25.94 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were given a dividend of $0.50 per share. The ex-dividend date was Monday, December 16th. This represents a $2.00 annualized dividend and a yield of 0.28%. Meta Platforms’s dividend payout ratio (DPR) is presently 8.36%.

Analyst Ratings Changes

Several brokerages recently weighed in on META. Wolfe Research increased their price objective on shares of Meta Platforms from $670.00 to $730.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Truist Financial lifted their price objective on Meta Platforms from $700.00 to $770.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. TD Cowen increased their target price on Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Jefferies Financial Group boosted their target price on Meta Platforms from $675.00 to $715.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, Mizuho lifted their price objective on shares of Meta Platforms from $675.00 to $750.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Two investment 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. Based on data from MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus price target of $710.83.

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.