Trifecta Capital Advisors LLC Has $5.99 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Trifecta Capital Advisors LLC lifted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 4,333.2% during the 2nd quarter, Holdings Channel reports. The firm owned 11,881 shares of the social networking company’s stock after purchasing an additional 11,613 shares during the quarter. Meta Platforms comprises 1.3% of Trifecta Capital Advisors LLC’s portfolio, making the stock its 18th biggest holding. Trifecta Capital Advisors LLC’s holdings in Meta Platforms were worth $5,991,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. S.A. Mason LLC lifted its holdings in shares of Meta Platforms by 1.5% during the 1st quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock worth $645,000 after acquiring an additional 20 shares during the period. Horizon Bancorp Inc. IN lifted its holdings in shares of Meta Platforms by 2.0% during the 1st quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock worth $513,000 after acquiring an additional 21 shares during the period. Northern Capital Management Inc. lifted its holdings in shares of Meta Platforms by 3.4% during the 1st quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company’s stock worth $314,000 after acquiring an additional 21 shares during the period. Buckingham Capital Management Inc. lifted its holdings in shares of Meta Platforms by 5.1% during the 2nd quarter. Buckingham Capital Management Inc. now owns 433 shares of the social networking company’s stock worth $218,000 after acquiring an additional 21 shares during the period. Finally, LongView Wealth Management lifted its holdings in shares of Meta Platforms by 1.3% during the 1st quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock worth $856,000 after acquiring an additional 22 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Down 0.2 %

Meta Platforms stock opened at $524.62 on Friday. Meta Platforms, Inc. has a 1-year low of $279.40 and a 1-year high of $544.23. The firm has a market capitalization of $1.33 trillion, a price-to-earnings ratio of 30.13, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21. The firm’s fifty day moving average price is $505.13 and its two-hundred day moving average price is $495.43. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. During the same period last year, the firm earned $3.23 earnings per share. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. On average, equities research analysts predict that Meta Platforms, Inc. will post 21.36 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Monday, September 16th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date is Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

Insider Buying and Selling at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $496.99, for a total transaction of $449,775.95. Following the transaction, the insider now directly owns 38,750 shares of the company’s stock, valued at $19,258,362.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $496.99, for a total transaction of $449,775.95. Following the transaction, the insider now directly owns 38,750 shares of the company’s stock, valued at $19,258,362.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Susan J. Li sold 33,018 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total transaction of $17,101,342.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 357,574 shares of company stock valued at $185,587,773. Corporate insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

META has been the subject of a number of recent analyst reports. Bank of America upped their price target on shares of Meta Platforms from $550.00 to $563.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Truist Financial upped their price target on shares of Meta Platforms from $535.00 to $570.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Rosenblatt Securities increased their price objective on shares of Meta Platforms from $562.00 to $643.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Raymond James increased their price objective on shares of Meta Platforms from $550.00 to $600.00 and gave the company a “strong-buy” rating in a research note on Monday, July 1st. Finally, Oppenheimer increased their price objective on shares of Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have given a hold rating, thirty-four have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus price target of $577.26.

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.