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

Glenview Trust co increased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 191,258 shares of the social networking company’s stock after acquiring an additional 1,335 shares during the quarter. Meta Platforms makes up approximately 2.1% of Glenview Trust co’s holdings, making the stock its 11th biggest holding. Glenview Trust co’s holdings in Meta Platforms were worth $111,983,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. JDM Financial Group LLC purchased a new position in shares of Meta Platforms during the 3rd quarter worth about $30,000. Safe Harbor Fiduciary LLC acquired a new position in Meta Platforms during the third quarter worth approximately $36,000. Avondale Wealth Management acquired a new position in shares of Meta Platforms in the 4th quarter valued at $41,000. Cordant Inc. purchased a new stake in shares of Meta Platforms during the 4th quarter valued at $59,000. Finally, Peterson Financial Group Inc. acquired a new stake in shares of Meta Platforms during the 3rd quarter worth $70,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Scotiabank lifted their target price on Meta Platforms from $583.00 to $627.00 and gave the company a “sector perform” rating in a report on Thursday, January 30th. Citigroup boosted their target price on Meta Platforms from $753.00 to $780.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Bank of America raised their price target on shares of Meta Platforms from $710.00 to $765.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Benchmark upgraded shares of Meta Platforms from a “hold” rating to a “buy” rating and set a $820.00 price objective for the company in a research note on Thursday, January 30th. Finally, Oppenheimer raised their target price on shares of Meta Platforms from $650.00 to $800.00 and gave the company an “outperform” 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 issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $718.31.

Insider Activity at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $590.00, for a total value of $243,670.00. Following the sale, the chief operating officer now owns 17,927 shares in the company, valued at approximately $10,576,930. This trade represents a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 35,921 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $604.46, for a total value of $21,712,807.66. The disclosure for this sale can be found here. Insiders have sold a total of 632,023 shares of company stock worth $414,734,884 in the last ninety days. 13.71% of the stock is owned by insiders.

Meta Platforms Stock 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 firm’s 50-day moving average price is $656.27 and its two-hundred day moving average price is $604.69. Meta Platforms, Inc. has a 52-week low of $414.50 and a 52-week high of $740.91. The stock has a market capitalization of $1.48 trillion, a P/E ratio of 24.42, a P/E/G ratio of 1.42 and a beta of 1.23.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same quarter last year, the company posted $5.33 earnings per share. As a group, sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date is Friday, March 14th. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio (DPR) is 8.78%.

Meta Platforms 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.