Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Trifecta Capital Advisors LLC

Trifecta Capital Advisors LLC lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 6.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,751 shares of the social networking company’s stock after acquiring an additional 945 shares during the quarter. Meta Platforms comprises about 1.8% of Trifecta Capital Advisors LLC’s investment portfolio, making the stock its 15th biggest holding. Trifecta Capital Advisors LLC’s holdings in Meta Platforms were worth $8,502,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in META. Fjell Capital LLC bought a new stake in Meta Platforms during the fourth quarter worth approximately $1,836,000. Opulen Financial Group LLC acquired a new position in Meta Platforms in the 4th quarter worth approximately $325,000. Daner Wealth Management LLC acquired a new position in Meta Platforms in the 4th quarter worth approximately $334,000. Brighton Jones LLC boosted its stake in Meta Platforms by 1.7% in the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock worth $20,230,000 after purchasing an additional 570 shares during the period. Finally, Union Bancaire Privee UBP SA acquired a new position in Meta Platforms in the 4th quarter worth approximately $112,406,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of META opened at $682.35 on Friday. The company has a market capitalization of $1.72 trillion, a PE ratio of 26.61, a price-to-earnings-growth ratio of 1.68 and a beta of 1.26. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66. The company’s fifty day moving average price is $618.10 and its 200 day moving average price is $623.14.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping the consensus estimate of $5.33 by $1.10. The firm had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The business’s quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter last year, the firm posted $4.71 EPS. As a group, analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be given a $0.525 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.31%. Meta Platforms’s dividend payout ratio is 8.19%.

Insiders Place Their Bets

In other Meta Platforms news, COO Javier Olivan sold 608 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $614.97, for a total value of $373,901.76. Following the sale, the chief operating officer now directly owns 6,838 shares in the company, valued at $4,205,164.86. This trade represents a 8.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Susan J. Li sold 6,874 shares of the firm’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the completion of the sale, the chief financial officer now owns 70,040 shares in the company, valued at $46,181,574.40. This represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 111,031 shares of company stock worth $73,954,565 in the last ninety days. Insiders own 13.61% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on META shares. TD Securities decreased their price objective on shares of Meta Platforms from $725.00 to $700.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Scotiabank decreased their price objective on shares of Meta Platforms from $627.00 to $525.00 and set a “sector perform” rating for the company in a research note on Monday, April 21st. Guggenheim increased their target price on shares of Meta Platforms from $675.00 to $725.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Susquehanna cut their target price on shares of Meta Platforms from $800.00 to $700.00 and set a “positive” rating for the company in a research report on Thursday, May 1st. Finally, Benchmark cut their target price on shares of Meta Platforms from $820.00 to $640.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus target price of $710.00.

Meta Platforms Company 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.