Greenline Partners LLC Acquires 4,302 Shares of Meta Platforms, Inc. (NASDAQ:META)

Greenline Partners LLC raised its holdings in Meta Platforms, Inc. (NASDAQ:META) by 182.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,666 shares of the social networking company’s stock after purchasing an additional 4,302 shares during the quarter. Greenline Partners LLC’s holdings in Meta Platforms were worth $3,364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in META. Vantage Financial Partners LLC increased its position in Meta Platforms by 3.2% in the fourth quarter. Vantage Financial Partners LLC now owns 1,323 shares of the social networking company’s stock worth $468,000 after buying an additional 41 shares during the last quarter. Concentrum Wealth Management raised its stake in Meta Platforms by 111.0% in the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock valued at $2,616,000 after acquiring an additional 3,888,308 shares during the period. Aveo Capital Partners LLC lifted its holdings in Meta Platforms by 45.7% during the fourth quarter. Aveo Capital Partners LLC now owns 2,302 shares of the social networking company’s stock valued at $815,000 after purchasing an additional 722 shares during the last quarter. 9258 Wealth Management LLC boosted its position in Meta Platforms by 66.4% during the fourth quarter. 9258 Wealth Management LLC now owns 3,993 shares of the social networking company’s stock worth $1,413,000 after purchasing an additional 1,594 shares during the period. Finally, Rollins Financial boosted its position in Meta Platforms by 7.5% during the fourth quarter. Rollins Financial now owns 30,657 shares of the social networking company’s stock worth $10,851,000 after purchasing an additional 2,133 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Meta Platforms

In related news, CEO Mark Zuckerberg sold 150 shares of Meta Platforms stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $500.49, for a total value of $75,073.50. Following the transaction, the chief executive officer now directly owns 124,387 shares of the company’s stock, valued at $62,254,449.63. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Meta Platforms news, CEO Mark Zuckerberg sold 150 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $500.49, for a total transaction of $75,073.50. Following the completion of the sale, the chief executive officer now owns 124,387 shares of the company’s stock, valued at approximately $62,254,449.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Susan J. Li sold 8,950 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the completion of the transaction, the chief financial officer now owns 74,579 shares in the company, valued at approximately $39,285,234.04. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 365,761 shares of company stock worth $190,846,038. 13.71% of the stock is currently owned by insiders.

Meta Platforms Price Performance

META stock opened at $564.41 on Tuesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The firm has a market cap of $1.43 trillion, a P/E ratio of 32.42, a P/E/G ratio of 1.26 and a beta of 1.21. The firm’s fifty day moving average is $507.58 and its 200 day moving average is $497.28. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $573.98.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The firm had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. During the same period last year, the firm earned $3.23 earnings per share. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. Research analysts predict that Meta Platforms, Inc. will post 21.36 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Monday, September 16th will be given a $0.50 dividend. The ex-dividend date is Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.35%. Meta Platforms’s payout ratio is currently 11.49%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on META shares. Wolfe Research assumed coverage on shares of Meta Platforms in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 price target on the stock. Truist Financial raised their price target on Meta Platforms from $535.00 to $570.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. TD Cowen lifted their price target on Meta Platforms from $530.00 to $600.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Susquehanna increased their price objective on Meta Platforms from $550.00 to $600.00 and gave the stock a “positive” rating in a report on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average target price of $578.92.

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.