Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Trivest Advisors Ltd

Trivest Advisors Ltd lessened its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 9.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 367,000 shares of the social networking company’s stock after selling 37,000 shares during the quarter. Meta Platforms comprises approximately 9.8% of Trivest Advisors Ltd’s holdings, making the stock its largest position. Trivest Advisors Ltd’s holdings in Meta Platforms were worth $214,882,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Seelaus Asset Management LLC raised its position in Meta Platforms by 0.9% during the fourth quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company’s stock valued at $960,000 after buying an additional 15 shares during the period. Meredith Wealth Planning increased its position in Meta Platforms by 0.8% in the 4th quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company’s stock worth $1,097,000 after purchasing an additional 15 shares during the last quarter. Maiden Cove Capital LLC increased its position in Meta Platforms by 3.2% in the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company’s stock worth $282,000 after purchasing an additional 15 shares during the last quarter. Stephens Consulting LLC increased its position in Meta Platforms by 5.3% in the 4th quarter. Stephens Consulting LLC now owns 317 shares of the social networking company’s stock worth $186,000 after purchasing an additional 16 shares during the last quarter. Finally, VeraBank N.A. increased its position in Meta Platforms by 0.8% in the 4th quarter. VeraBank N.A. now owns 1,954 shares of the social networking company’s stock worth $1,144,000 after purchasing an additional 16 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In related news, insider Jennifer Newstead sold 921 shares of Meta Platforms stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $600.25, for a total transaction of $552,830.25. Following the completion of the transaction, the insider now owns 32,103 shares in the company, valued at approximately $19,269,825.75. This trade represents a 2.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Susan J. Li sold 8,553 shares of Meta Platforms stock in a transaction dated Saturday, February 15th. The stock was sold at an average price of $736.67, for a total value of $6,300,738.51. Following the transaction, the chief financial officer now owns 51,793 shares of the company’s stock, valued at $38,154,349.31. The trade was a 14.17 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 622,844 shares of company stock valued at $409,212,161. 13.71% of the stock is owned by insiders.

Meta Platforms Stock Performance

META opened at $596.25 on Friday. The business’s 50-day moving average price is $655.38 and its two-hundred day moving average price is $605.08. Meta Platforms, Inc. has a 1 year low of $414.50 and a 1 year high of $740.91. The company has a market capitalization of $1.51 trillion, a price-to-earnings ratio of 24.93, a P/E/G ratio of 1.42 and a beta of 1.23. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same period in the prior year, the business posted $5.33 EPS. Equities analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be given a $0.525 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.35%. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s payout ratio is currently 8.78%.

Wall Street Analyst Weigh In

META has been the topic of several research reports. Benchmark raised Meta Platforms from a “hold” rating to a “buy” rating and set a $820.00 target price on the stock in a research report on Thursday, January 30th. Cantor Fitzgerald upped their price target on Meta Platforms from $720.00 to $790.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. UBS Group upped their price target on Meta Platforms from $736.00 to $786.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Truist Financial upped their price target on Meta Platforms from $700.00 to $770.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Finally, JMP Securities reiterated a “market outperform” rating and set a $750.00 price target on shares of Meta Platforms in a research note on Monday, January 27th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $718.31.

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.