Greenfield Savings Bank Purchases 70 Shares of Meta Platforms, Inc. (NASDAQ:META)

Greenfield Savings Bank increased its position in Meta Platforms, Inc. (NASDAQ:META) by 1.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,832 shares of the social networking company’s stock after acquiring an additional 70 shares during the period. Meta Platforms comprises about 1.5% of Greenfield Savings Bank’s investment portfolio, making the stock its 17th biggest holding. Greenfield Savings Bank’s holdings in Meta Platforms were worth $2,832,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Baird Financial Group Inc. grew its holdings in shares of Meta Platforms by 24.2% in the fourth quarter. Baird Financial Group Inc. now owns 835,972 shares of the social networking company’s stock worth $295,901,000 after acquiring an additional 163,067 shares during the period. California State Teachers Retirement System grew its holdings in Meta Platforms by 1.5% during the fourth quarter. California State Teachers Retirement System now owns 3,576,285 shares of the social networking company’s stock valued at $1,265,862,000 after purchasing an additional 51,900 shares during the period. Donoghue Forlines LLC grew its holdings in Meta Platforms by 94.4% during the fourth quarter. Donoghue Forlines LLC now owns 8,349 shares of the social networking company’s stock valued at $2,955,000 after purchasing an additional 4,054 shares during the period. Daiwa Securities Group Inc. grew its holdings in Meta Platforms by 7.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company’s stock valued at $159,841,000 after purchasing an additional 32,423 shares during the period. Finally, Voyager Global Management LP grew its holdings in Meta Platforms by 37.3% during the fourth quarter. Voyager Global Management LP now owns 515,000 shares of the social networking company’s stock valued at $182,289,000 after purchasing an additional 140,000 shares during the period. Institutional investors own 79.91% of the company’s stock.

Insider Activity

In other news, CEO Mark Zuckerberg sold 77,412 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $504.82, for a total value of $39,079,125.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Susan J. Li sold 8,951 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total value of $4,223,529.35. Following the completion of the sale, the chief financial officer now owns 74,580 shares of the company’s stock, valued at approximately $35,190,573. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 77,412 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $504.82, for a total value of $39,079,125.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 313,169 shares of company stock worth $153,344,736. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Trading Down 1.4 %

Shares of NASDAQ:META opened at $494.78 on Friday. Meta Platforms, Inc. has a 12-month low of $274.38 and a 12-month high of $531.49. The business’s fifty day simple moving average is $478.95 and its 200-day simple moving average is $446.29. The company has a market capitalization of $1.26 trillion, a PE ratio of 28.42, a P/E/G ratio of 1.30 and a beta of 1.21. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The business had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. As a group, equities research analysts predict that Meta Platforms, Inc. will post 20.16 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th will be issued a $0.50 dividend. The ex-dividend date is Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.40%. Meta Platforms’s dividend payout ratio is presently 11.49%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. JMP Securities reissued a “market outperform” rating and set a $550.00 price target on shares of Meta Platforms in a report on Monday, April 22nd. Oppenheimer cut their price target on Meta Platforms from $585.00 to $500.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Jefferies Financial Group dropped their price objective on Meta Platforms from $585.00 to $540.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Royal Bank of Canada dropped their price objective on Meta Platforms from $600.00 to $570.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Finally, KeyCorp upped their price objective on Meta Platforms from $475.00 to $540.00 and gave the stock an “overweight” rating in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and an average target price of $510.05.

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.