Greenline Partners LLC Has $8.04 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Greenline Partners LLC lifted its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 106.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,735 shares of the social networking company's stock after buying an additional 7,069 shares during the period. Meta Platforms makes up 1.1% of Greenline Partners LLC's holdings, making the stock its 24th largest position. Greenline Partners LLC's holdings in Meta Platforms were worth $8,042,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of META. Millstone Evans Group LLC acquired a new position in Meta Platforms during the fourth quarter valued at $40,000. Avondale Wealth Management acquired a new position in Meta Platforms during the fourth quarter valued at $41,000. WealthTrak Capital Management LLC acquired a new position in Meta Platforms during the fourth quarter valued at $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Meta Platforms in the fourth quarter valued at about $45,000. Finally, Cordant Inc. purchased a new position in Meta Platforms in the fourth quarter valued at about $59,000. Institutional investors own 79.91% of the company's stock.

Insider Transactions at Meta Platforms

In related news, CFO Susan J. Li sold 8,553 shares of the firm's stock in a transaction on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total transaction of $6,300,738.51. Following the completion of the sale, the chief financial officer now directly owns 51,793 shares of the company's stock, valued at $38,154,349.31. This trade represents a 14.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Javier Olivan sold 608 shares of the firm's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $488.18, for a total value of $296,813.44. Following the sale, the chief operating officer now directly owns 5,622 shares of the company's stock, valued at $2,744,547.96. This represents a 9.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 155,689 shares of company stock valued at $109,097,842. Corporate insiders own 13.71% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on META shares. Wedbush boosted their target price on Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Rosenblatt Securities boosted their target price on Meta Platforms from $846.00 to $918.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Jefferies Financial Group lowered their target price on Meta Platforms from $725.00 to $600.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Guggenheim boosted their target price on Meta Platforms from $675.00 to $725.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Finally, Loop Capital lowered their target price on Meta Platforms from $900.00 to $695.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $696.45.

Meta Platforms Stock Performance

Shares of META stock traded down $5.52 during mid-day trading on Friday, reaching $592.49. The stock had a trading volume of 10,401,916 shares, compared to its average volume of 14,465,666. The firm's 50 day simple moving average is $568.87 and its 200 day simple moving average is $604.75. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91. The firm has a market cap of $1.50 trillion, a PE ratio of 24.77, a P/E/G ratio of 1.42 and a beta of 1.24.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The company had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter last year, the company earned $4.71 EPS. The company's quarterly revenue was up 16.1% on a year-over-year basis. On average, analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current 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 $0.525 dividend. The ex-dividend date was Friday, March 14th. This is a boost from Meta Platforms's previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.35%. Meta Platforms's dividend payout ratio is presently 8.19%.

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.