Greenleaf Trust Sells 6,883 Shares of Meta Platforms, Inc. (NASDAQ:META)

Greenleaf Trust has reduced its stake in Meta Platforms by 5.5% during the fourth quarter, according to a filing with the Securities & Exchange Commission. The institutional investor now owns 117,470 shares of the company's stock. Meta Platforms is the 15th largest position in Greenleaf Trust's holdings. Several other institutional investors have also bought and sold shares of Meta Platforms. Insiders have sold over 1.4 million shares in the last 90 days. Analysts have set new price targets for the stock.

Greenleaf Trust lessened its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 5.5% during the fourth quarter, according to 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 quarter. Meta Platforms makes up about 0.4% of Greenleaf Trust's holdings, making the stock its 15th largest position. Greenleaf Trust's holdings in Meta Platforms were worth $41,580,000 as of its most recent filing with the Securities & Exchange Commission.

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Comprehensive Analysis of PayPal Stock

Several other institutional investors have also bought and sold shares of META. Stone House Investment Management LLC raised its position in Meta Platforms by 625.0% in the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company's stock worth $26,000 after acquiring an additional 75 shares during the period. MBM Wealth Consultants LLC bought a new stake in shares of Meta Platforms during the 4th quarter valued at about $26,000. Stephens Investment Management Group LLC bought a new position in shares of Meta Platforms in the second quarter worth approximately $30,000. Beaird Harris Wealth Management LLC increased its holdings in shares of Meta Platforms by 68.9% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company's stock worth $31,000 after buying an additional 42 shares during the last quarter. Finally, PayPay Securities Corp lifted its holdings in shares of Meta Platforms by 65.2% during the 3rd quarter. PayPay Securities Corp now owns 109 shares of the social networking company's stock worth $33,000 after acquiring an additional 43 shares during the last quarter. Institutional investors own 79.91% of the company's stock.

Insider Activity at Meta Platforms

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In other news, COO Javier Olivan sold 490 shares of Meta Platforms stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $488.03, for a total transaction of $239,134.70. Following the completion of the sale, the chief operating officer now owns 79,944 shares of the company's stock, valued at $39,015,070.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Meta Platforms news, COO Javier Olivan sold 490 shares of the firm's stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $488.03, for a total transaction of $239,134.70. Following the transaction, the chief operating officer now owns 79,944 shares of the company's stock, valued at approximately $39,015,070.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jennifer Newstead sold 566 shares of the stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $385.00, for a total transaction of $217,910.00. Following the sale, the insider now directly owns 35,286 shares of the company's stock, valued at $13,585,110. The disclosure for this sale can be found here. Insiders sold 1,421,182 shares of company stock worth $677,574,550 in the last 90 days. 13.75% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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Several equities research analysts recently weighed in on META shares. Canaccord Genuity Group increased their target price on Meta Platforms from $450.00 to $540.00 and gave the company a "buy" rating in a report on Friday, February 2nd. Piper Sandler raised their price target on shares of Meta Platforms from $525.00 to $600.00 and gave the company an "overweight" rating in a report on Thursday, April 11th. BMO Capital Markets raised their target price on shares of Meta Platforms from $397.00 to $450.00 and gave the stock a "market perform" rating in a report on Friday, February 2nd. Citigroup lifted their price objective on Meta Platforms from $525.00 to $590.00 and gave the stock a "buy" rating in a report on Monday, April 15th. Finally, KeyCorp increased their target price on Meta Platforms from $465.00 to $575.00 and gave the company an "overweight" rating in a report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $519.53.

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Meta Platforms Stock Performance

Bargain Alert: Apple Shares Are Starting To Look Undervalued

Shares of NASDAQ:META opened at $481.07 on Friday. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 12 month low of $207.13 and a 12 month high of $531.49. The company has a market capitalization of $1.23 trillion, a price-to-earnings ratio of 32.29, a PEG ratio of 1.27 and a beta of 1.20. The firm's 50-day moving average is $494.55 and its 200 day moving average is $398.64.

Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results on Thursday, February 1st. The social networking company reported $5.33 EPS for the quarter, beating analysts' consensus estimates of $4.82 by $0.51. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. The firm had revenue of $40.11 billion for the quarter, compared to analysts' expectations of $39.12 billion. During the same quarter in the prior year, the firm posted $3.00 earnings per share. The company's quarterly revenue was up 24.7% on a year-over-year basis. Research analysts predict that Meta Platforms, Inc. will post 20.18 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Thursday, February 22nd were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.42%. The ex-dividend date was Wednesday, February 21st. Meta Platforms's dividend payout ratio is presently 13.42%.

Meta Platforms Profile

(Free Report)

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.

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