Trifecta Capital Advisors LLC Boosts Stake in Meta Platforms, Inc. (NASDAQ:META)

Trifecta Capital Advisors LLC grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 6.8% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 14,751 shares of the social networking company's stock after purchasing an additional 945 shares during the period. Meta Platforms comprises approximately 1.8% of Trifecta Capital Advisors LLC's portfolio, making the stock its 15th biggest position. Trifecta Capital Advisors LLC's holdings in Meta Platforms were worth $8,502,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Fjell Capital LLC purchased a new position in shares of Meta Platforms in the 4th quarter worth approximately $1,836,000. Opulen Financial Group LLC purchased a new position in shares of Meta Platforms in the 4th quarter worth approximately $325,000. Daner Wealth Management LLC purchased a new position in shares of Meta Platforms in the 4th quarter worth approximately $334,000. Brighton Jones LLC boosted its stake in shares of 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 buying an additional 570 shares during the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new position in shares of Meta Platforms in the 4th quarter worth approximately $112,406,000. 79.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on META. DA Davidson dropped their price objective on Meta Platforms from $800.00 to $650.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Wedbush boosted their target price on shares of Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Cantor Fitzgerald boosted their target price on shares of Meta Platforms from $676.00 to $807.00 and gave the company an "overweight" rating in a report on Wednesday. Bank of America boosted their target price on shares of Meta Platforms from $690.00 to $765.00 and gave the company a "buy" rating in a report on Thursday, June 12th. Finally, Citigroup reissued a "buy" rating on shares of Meta Platforms in a report on Thursday, June 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $710.00.

Meta Platforms Stock Down 1.9%

Shares of META traded down $13.42 during mid-day trading on Friday, reaching $682.35. The company had a trading volume of 22,498,010 shares, compared to its average volume of 14,512,174. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. The firm has a 50-day moving average price of $618.10 and a 200 day moving average price of $623.24. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91. The company has a market capitalization of $1.72 trillion, a price-to-earnings ratio of 26.61, a price-to-earnings-growth ratio of 1.68 and a beta of 1.26.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The company had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. During the same period in the previous year, the business earned $4.71 EPS. The firm's revenue for the quarter was up 16.1% on a year-over-year basis. On average, sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be issued a $0.525 dividend. The ex-dividend date is Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.31%. Meta Platforms's payout ratio is currently 8.19%.

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 1,462 shares of the business's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $701.13, for a total value of $1,025,052.06. Following the completion of the transaction, the chief executive officer now directly owns 139,538 shares in the company, valued at $97,834,277.94. The trade was a 1.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jennifer Newstead sold 921 shares of the business's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $627.05, for a total transaction of $577,513.05. Following the completion of the transaction, the insider now owns 31,182 shares of the company's stock, valued at approximately $19,552,673.10. The trade was a 2.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 111,031 shares of company stock worth $73,954,565 in the last three months. Insiders own 13.61% of the company's stock.

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.