Meta Platforms, Inc. (NASDAQ:META) is Trust Asset Management LLC's 10th Largest Position

Trust Asset Management LLC lowered its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 1.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 25,105 shares of the social networking company's stock after selling 481 shares during the period. Meta Platforms makes up approximately 1.2% of Trust Asset Management LLC's investment portfolio, making the stock its 10th largest position. Trust Asset Management LLC's holdings in Meta Platforms were worth $14,470,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Valley Financial Group Inc. grew its position in Meta Platforms by 2.4% during the 4th quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock worth $344,000 after purchasing an additional 14 shares during the last quarter. Lantern Wealth Advisors LLC boosted its holdings in Meta Platforms by 0.5% during the fourth quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company's stock worth $1,743,000 after buying an additional 14 shares in the last quarter. ABLE Financial Group LLC boosted its holdings in Meta Platforms by 0.7% during the fourth quarter. ABLE Financial Group LLC now owns 2,136 shares of the social networking company's stock worth $1,251,000 after buying an additional 15 shares in the last quarter. Mosaic Family Wealth Partners LLC boosted its holdings in Meta Platforms by 1.2% during the fourth quarter. Mosaic Family Wealth Partners LLC now owns 1,435 shares of the social networking company's stock worth $840,000 after buying an additional 17 shares in the last quarter. Finally, Orin Green Financial LLC raised its position in Meta Platforms by 2.2% during the fourth quarter. Orin Green Financial LLC now owns 795 shares of the social networking company's stock worth $465,000 after acquiring an additional 17 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on META. Piper Sandler boosted their price objective on shares of Meta Platforms from $808.00 to $880.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Stifel Nicolaus boosted their price objective on shares of Meta Platforms from $845.00 to $900.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. TD Securities decreased their target price 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. Bank of America upped their target price on shares of Meta Platforms from $775.00 to $900.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Finally, Robert W. Baird increased their price objective on shares of Meta Platforms from $635.00 to $740.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Four equities research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $822.41.

Meta Platforms Trading Up 0.3%

NASDAQ:META opened at $782.13 on Friday. Meta Platforms, Inc. has a 12 month low of $479.80 and a 12 month high of $795.46. The firm has a market cap of $1.96 trillion, a price-to-earnings ratio of 28.32, a P/E/G ratio of 1.62 and a beta of 1.27. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.15. The company's 50 day moving average is $722.68 and its 200-day moving average is $654.81.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results on Wednesday, July 30th. The social networking company reported $7.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.75 by $1.39. Meta Platforms had a net margin of 39.99% and a return on equity of 39.33%. The business had revenue of $47.52 billion for the quarter, compared to analyst estimates of $44.55 billion. During the same quarter in the previous year, the firm posted $5.16 earnings per share. Meta Platforms's revenue was up 21.6% compared to the same quarter last year. Equities analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. Meta Platforms's payout ratio is 7.60%.

Insiders Place Their Bets

In related news, CEO Mark Zuckerberg sold 15,847 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $753.43, for a total transaction of $11,939,605.21. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Christopher K. Cox sold 60,000 shares of the business's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $775.95, for a total transaction of $46,557,000.00. Following the transaction, the insider directly owned 237,205 shares in the company, valued at $184,059,219.75. This trade represents a 20.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 269,243 shares of company stock worth $200,605,051 in the last ninety days. 13.61% of the stock is currently owned by insiders.

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.

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