Greenfield Savings Bank Sells 54 Shares of Meta Platforms, Inc. (NASDAQ:META)

Greenfield Savings Bank lessened its stake in Meta Platforms, Inc. (NASDAQ:META) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,900 shares of the social networking company’s stock after selling 54 shares during the quarter. Meta Platforms accounts for approximately 1.7% of Greenfield Savings Bank’s holdings, making the stock its 15th biggest position. Greenfield Savings Bank’s holdings in Meta Platforms were worth $3,455,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Code Waechter LLC raised its holdings in Meta Platforms by 25.8% in the fourth quarter. Code Waechter LLC now owns 1,073 shares of the social networking company’s stock worth $628,000 after buying an additional 220 shares during the last quarter. Grandview Asset Management LLC increased its position in shares of Meta Platforms by 2.3% during the fourth quarter. Grandview Asset Management LLC now owns 8,854 shares of the social networking company’s stock valued at $5,184,000 after acquiring an additional 196 shares in the last quarter. TPG Financial Advisors LLC raised its holdings in Meta Platforms by 6.4% in the 4th quarter. TPG Financial Advisors LLC now owns 750 shares of the social networking company’s stock worth $439,000 after acquiring an additional 45 shares during the last quarter. Marcum Wealth LLC raised its holdings in Meta Platforms by 8.2% in the 4th quarter. Marcum Wealth LLC now owns 6,976 shares of the social networking company’s stock worth $4,085,000 after acquiring an additional 528 shares during the last quarter. Finally, Ellenbecker Investment Group lifted its position in Meta Platforms by 4.0% in the 4th quarter. Ellenbecker Investment Group now owns 1,151 shares of the social networking company’s stock valued at $674,000 after acquiring an additional 44 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Mark Zuckerberg sold 35,921 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $607.97, for a total value of $21,838,890.37. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $631.55, for a total transaction of $571,552.75. Following the transaction, the insider now owns 32,010 shares of the company’s stock, valued at $20,215,915.50. This trade represents a 2.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 423,427 shares of company stock valued at $256,996,450 in the last quarter. 13.71% of the stock is currently owned by insiders.

Meta Platforms Price Performance

META stock opened at $594.25 on Wednesday. The company has a market capitalization of $1.50 trillion, a PE ratio of 27.99, a price-to-earnings-growth ratio of 1.36 and a beta of 1.19. The company’s fifty day moving average price is $595.02 and its 200-day moving average price is $554.81. Meta Platforms, Inc. has a one year low of $358.61 and a one year high of $638.40. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping the consensus estimate of $5.19 by $0.84. The business had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. On average, equities analysts anticipate that Meta Platforms, Inc. will post 22.68 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.34%. The ex-dividend date was Monday, December 16th. Meta Platforms’s dividend payout ratio is presently 9.42%.

Analyst Ratings Changes

Several research firms have recently weighed in on META. Morgan Stanley boosted their price target on Meta Platforms from $600.00 to $660.00 and gave the stock an “overweight” rating in a research note on Monday. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research report on Thursday, October 31st. Monness Crespi & Hardt raised their price target on shares of Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Hsbc Global Res upgraded shares of Meta Platforms to a “hold” rating in a research note on Thursday, October 24th. Finally, Robert W. Baird increased their price objective on shares of Meta Platforms from $605.00 to $630.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and an average target price of $650.05.

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.