Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Greenline Partners LLC

Greenline Partners LLC increased its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 106.0% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 13,735 shares of the social networking company’s stock after acquiring an additional 7,069 shares during the period. Meta Platforms makes up approximately 1.1% of Greenline Partners LLC’s holdings, making the stock its 24th largest holding. Greenline Partners LLC’s holdings in Meta Platforms were worth $8,042,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank purchased a new position in Meta Platforms in the 4th quarter valued at about $19,949,512,000. Proficio Capital Partners LLC lifted its stake in shares of Meta Platforms by 78,471.1% in the fourth quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company’s stock worth $3,658,713,000 after acquiring an additional 6,240,810 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Meta Platforms in the fourth quarter valued at about $2,243,603,000. Northern Trust Corp grew its stake in Meta Platforms by 13.5% during the 4th quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company’s stock valued at $13,727,613,000 after purchasing an additional 2,787,832 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Meta Platforms by 27.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 8,901,521 shares of the social networking company’s stock worth $5,211,967,000 after purchasing an additional 1,892,509 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of META opened at $592.49 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The firm’s 50 day moving average is $568.87 and its 200-day moving average is $604.22. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91. The stock has a market capitalization of $1.50 trillion, a P/E ratio of 24.77, a P/E/G ratio of 1.42 and a beta of 1.24.

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

Meta Platforms Increases Dividend

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

Analyst Upgrades and Downgrades

META has been the subject of several research analyst reports. TD Securities reduced their target price on Meta Platforms from $725.00 to $700.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Morgan Stanley increased their price objective on shares of Meta Platforms from $615.00 to $650.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. raised their price objective on shares of Meta Platforms from $610.00 to $675.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. Barclays cut their target price on shares of Meta Platforms from $705.00 to $640.00 and set an “overweight” rating on the stock in a research note on Thursday, May 1st. Finally, Evercore ISI lifted their price target on Meta Platforms from $725.00 to $750.00 and gave the stock an “outperform” rating in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and an average price target of $696.45.

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 921 shares of Meta Platforms stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $592.52, for a total transaction of $545,710.92. Following the transaction, the insider now directly owns 25,656 shares in the company, valued at approximately $15,201,693.12. The trade was a 3.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 35,795 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $715.82, for a total value of $25,622,776.90. The disclosure for this sale can be found here. Insiders sold 155,689 shares of company stock worth $109,097,842 in the last quarter. 13.71% of the stock is owned by company insiders.

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.