Meta Platforms, Inc. $META Shares Sold by Glenview Trust Co

Glenview Trust Co trimmed its position in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 2.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 195,699 shares of the social networking company’s stock after selling 4,753 shares during the period. Meta Platforms accounts for approximately 2.3% of Glenview Trust Co’s investment portfolio, making the stock its 9th biggest position. Glenview Trust Co’s holdings in Meta Platforms were worth $143,717,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Brighton Jones LLC raised its holdings in Meta Platforms by 1.7% in the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock valued at $20,230,000 after buying an additional 570 shares during the last quarter. Revolve Wealth Partners LLC increased its position in Meta Platforms by 10.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company’s stock valued at $5,537,000 after acquiring an additional 875 shares during the period. Headwater Capital Co Ltd raised its stake in shares of Meta Platforms by 294.7% during the first quarter. Headwater Capital Co Ltd now owns 150,000 shares of the social networking company’s stock valued at $86,454,000 after acquiring an additional 112,000 shares during the last quarter. Dymon Asia Capital Singapore PTE. LTD. bought a new position in shares of Meta Platforms during the second quarter valued at $213,000. Finally, Capital & Planning LLC acquired a new position in shares of Meta Platforms during the second quarter worth $322,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on META. Wedbush increased their price objective on Meta Platforms from $880.00 to $900.00 and gave the company an “outperform” rating in a report on Thursday, January 29th. JPMorgan Chase & Co. upped their price target on Meta Platforms from $800.00 to $825.00 and gave the company an “overweight” rating in a research report on Thursday, January 29th. Argus reissued a “buy” rating and issued a $800.00 price target on shares of Meta Platforms in a research note on Monday, February 2nd. Oppenheimer downgraded Meta Platforms from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 30th. Finally, Benchmark cut Meta Platforms from a “buy” rating to a “hold” rating in a report on Thursday, October 30th. Three analysts have rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $844.44.

Check Out Our Latest Stock Report on META

Insider Buying and Selling

In other Meta Platforms news, CTO Andrew Bosworth sold 8,089 shares of the business’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $631.24, for a total transaction of $5,106,100.36. Following the completion of the sale, the chief technology officer owned 2,841 shares in the company, valued at approximately $1,793,352.84. The trade was a 74.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Javier Olivan sold 2,461 shares of the company’s stock in a transaction on Sunday, February 15th. The stock was sold at an average price of $639.77, for a total transaction of $1,574,473.97. Following the transaction, the chief operating officer owned 12,108 shares in the company, valued at approximately $7,746,335.16. The trade was a 16.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 27,791 shares of company stock worth $17,835,648 over the last quarter. Corporate insiders own 13.61% of the company’s stock.

Key Stories Impacting Meta Platforms

Here are the key news stories impacting Meta Platforms this week:

Meta Platforms Price Performance

Shares of NASDAQ META opened at $637.25 on Tuesday. The firm has a market capitalization of $1.61 trillion, a P/E ratio of 27.12, a P/E/G ratio of 1.12 and a beta of 1.28. The firm’s 50-day moving average price is $656.47 and its 200-day moving average price is $688.15. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 0.27. Meta Platforms, Inc. has a 1-year low of $479.80 and a 1-year high of $796.25.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its earnings results on Wednesday, January 28th. The social networking company reported $8.88 EPS for the quarter, beating analysts’ consensus estimates of $8.16 by $0.72. Meta Platforms had a return on equity of 38.61% and a net margin of 30.08%.The business had revenue of $59.89 billion during the quarter, compared to analyst estimates of $58.33 billion. During the same period in the previous year, the company posted $8.02 EPS. The firm’s revenue was up 23.8% compared to the same quarter last year. Equities research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Monday, March 16th will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, March 16th. Meta Platforms’s dividend payout ratio is presently 8.94%.

About Meta Platforms

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

Further Reading

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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