Trinity Financial Advisors LLC Grows Stake in Meta Platforms, Inc. (NASDAQ:META)

Trinity Financial Advisors LLC lifted its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 367.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,216 shares of the social networking company's stock after buying an additional 4,101 shares during the period. Meta Platforms makes up about 0.6% of Trinity Financial Advisors LLC's investment portfolio, making the stock its 23rd biggest position. Trinity Financial Advisors LLC's holdings in Meta Platforms were worth $3,006,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Millstone Evans Group LLC bought a new position in Meta Platforms in the fourth quarter worth approximately $40,000. WealthTrak Capital Management LLC bought a new position in Meta Platforms in the fourth quarter worth approximately $43,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in Meta Platforms in the fourth quarter worth approximately $45,000. Stuart Chaussee & Associates Inc. bought a new position in Meta Platforms in the fourth quarter worth approximately $47,000. Finally, Principia Wealth Advisory LLC raised its position in Meta Platforms by 53.6% in the first quarter. Principia Wealth Advisory LLC now owns 86 shares of the social networking company's stock worth $50,000 after acquiring an additional 30 shares during the period. Institutional investors own 79.91% of the company's stock.

Insider Buying and Selling at Meta Platforms

In other news, COO Javier Olivan sold 608 shares of Meta Platforms stock in a transaction on Monday, March 17th. The stock was sold at an average price of $607.50, for a total value of $369,360.00. Following the transaction, the chief operating officer now directly owns 7,446 shares in the company, valued at approximately $4,523,445. This trade represents a 7.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Andrew Bosworth sold 22,449 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $636.85, for a total value of $14,296,645.65. Following the sale, the chief technology officer now owns 1,183 shares of the company's stock, valued at $753,393.55. This trade represents a 94.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 86,201 shares of company stock valued at $56,377,837 in the last three months. Company insiders own 13.61% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on META shares. KeyCorp increased their price target on shares of Meta Platforms from $645.00 to $655.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Wedbush raised their price objective on shares of Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Roth Capital raised their price objective on shares of Meta Platforms from $580.00 to $620.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Citigroup lifted their target price on Meta Platforms from $655.00 to $690.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Finally, Scotiabank dropped their price target on 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms currently has a consensus rating of "Moderate Buy" and a consensus price target of $704.26.

Meta Platforms Trading Down 0.1%

Shares of META stock traded down $0.78 on Thursday, reaching $693.36. 7,303,916 shares of the company's stock were exchanged, compared to its average volume of 14,503,798. The company's fifty day simple moving average is $597.08 and its 200 day simple moving average is $617.62. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $1.74 trillion, a PE ratio of 28.99, a P/E/G ratio of 1.42 and a beta of 1.26.

Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping the consensus estimate of $5.33 by $1.10. The business had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The business's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period last year, the company earned $4.71 earnings per share. As a group, analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed 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 0.30%. Meta Platforms's dividend payout ratio (DPR) is 8.19%.

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.