Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Glenview Trust co

Glenview Trust co boosted its position in Meta Platforms, Inc. (NASDAQ:META) by 0.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 191,258 shares of the social networking company’s stock after purchasing an additional 1,335 shares during the period. Meta Platforms makes up about 2.1% of Glenview Trust co’s portfolio, making the stock its 11th largest holding. Glenview Trust co’s holdings in Meta Platforms were worth $111,983,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ballentine Partners LLC raised its holdings in shares of Meta Platforms by 1.4% in the 4th quarter. Ballentine Partners LLC now owns 58,218 shares of the social networking company’s stock worth $34,087,000 after purchasing an additional 808 shares in the last quarter. UMB Bank n.a. grew its position in Meta Platforms by 0.6% in the fourth quarter. UMB Bank n.a. now owns 140,585 shares of the social networking company’s stock worth $82,314,000 after buying an additional 897 shares during the last quarter. Brueske Advisory Services LLC bought a new position in shares of Meta Platforms in the fourth quarter valued at $459,000. Charles Schwab Investment Management Inc. lifted its position in shares of 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 valued at $7,915,451,000 after acquiring an additional 118,298 shares during the last quarter. Finally, Apollon Financial LLC boosted its stake in shares of Meta Platforms by 11.1% during the 4th quarter. Apollon Financial LLC now owns 1,479 shares of the social networking company’s stock worth $866,000 after acquiring an additional 148 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $584.06 on Thursday. 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 business has a 50 day moving average price of $656.27 and a 200 day moving average price of $604.69. The company has a market cap of $1.48 trillion, a price-to-earnings ratio of 24.42, a PEG ratio of 1.42 and a beta of 1.23. Meta Platforms, Inc. has a twelve month low of $414.50 and a twelve month high of $740.91.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, topping 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 business earned $5.33 EPS. Research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be given a dividend of $0.525 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.36%. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio is currently 8.78%.

Insider Activity at Meta Platforms

In related news, insider Jennifer Newstead sold 902 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $713.32, for a total value of $643,414.64. Following the completion of the transaction, the insider now directly owns 27,488 shares in the company, valued at approximately $19,607,740.16. This represents a 3.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Javier Olivan sold 608 shares of Meta Platforms stock in a transaction on Monday, March 17th. The stock was sold at an average price of $607.50, for a total transaction of $369,360.00. Following the sale, the chief operating officer now owns 7,446 shares in the company, valued at $4,523,445. This represents a 7.55 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 632,023 shares of company stock worth $414,734,884. Company insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

META has been the subject of several analyst reports. DA Davidson upped their target price on Meta Platforms from $700.00 to $800.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Scotiabank raised their target price on shares of Meta Platforms from $583.00 to $627.00 and gave the stock a “sector perform” rating in a report on Thursday, January 30th. JMP Securities restated a “market outperform” rating and set a $750.00 price target on shares of Meta Platforms in a report on Monday, January 27th. Morgan Stanley raised their price objective on shares of Meta Platforms from $600.00 to $660.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Finally, Cantor Fitzgerald boosted their target price on shares of Meta Platforms from $720.00 to $790.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have issued 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 $718.31.

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.