Meta Platforms, Inc. (NASDAQ:META) Shares Sold by TrinityPoint Wealth LLC

TrinityPoint Wealth LLC decreased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 0.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,253 shares of the social networking company’s stock after selling 44 shares during the period. Meta Platforms comprises approximately 0.9% of TrinityPoint Wealth LLC’s portfolio, making the stock its 22nd largest position. TrinityPoint Wealth LLC’s holdings in Meta Platforms were worth $6,441,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Central Valley Advisors LLC boosted its holdings in shares of Meta Platforms by 0.3% during the third quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock worth $3,271,000 after purchasing an additional 18 shares during the period. Cherrydale Wealth Management LLC boosted its position in shares of Meta Platforms by 0.5% during the 3rd quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock valued at $2,199,000 after acquiring an additional 18 shares in the last quarter. Alliance Wealth Advisors LLC grew its stake in shares of Meta Platforms by 0.7% in the 3rd quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock valued at $1,595,000 after purchasing an additional 18 shares during the period. Kozak & Associates Inc. lifted its holdings in shares of Meta Platforms by 1.0% during the third quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock valued at $1,099,000 after acquiring an additional 18 shares during the period. Finally, Capital Advisors Ltd. LLC grew its stake in Meta Platforms by 0.5% during the third quarter. Capital Advisors Ltd. LLC now owns 3,560 shares of the social networking company’s stock worth $2,038,000 after buying an additional 18 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $507.63, for a total transaction of $459,405.15. Following the completion of the sale, the insider now owns 37,817 shares of the company’s stock, valued at $19,197,043.71. This trade represents a 2.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 492 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $600.75, for a total transaction of $295,569.00. Following the sale, the chief executive officer now directly owns 518,508 shares of the company’s stock, valued at approximately $311,493,681. This trade represents a 0.09 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 185,958 shares of company stock worth $101,181,747. 13.71% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on META. Piper Sandler increased their price target on shares of Meta Platforms from $575.00 to $650.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $670.00 price target on shares of Meta Platforms in a research report on Wednesday, October 16th. Robert W. Baird raised their price objective on shares of Meta Platforms from $605.00 to $630.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Finally, BMO Capital Markets increased their price objective on Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $634.10.

Meta Platforms Stock Performance

NASDAQ:META opened at $565.52 on Thursday. Meta Platforms, Inc. has a fifty-two week low of $313.66 and a fifty-two week high of $602.95. The stock has a fifty day moving average price of $571.30 and a 200-day moving average price of $523.03. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The company has a market cap of $1.43 trillion, a price-to-earnings ratio of 26.64, a PEG ratio of 1.23 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. The firm had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

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.