Meta Platforms, Inc. (NASDAQ:META) Stock Holdings Boosted by Tritonpoint Wealth LLC

Tritonpoint Wealth LLC lifted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 7,870 shares of the social networking company’s stock after acquiring an additional 252 shares during the period. Tritonpoint Wealth LLC’s holdings in Meta Platforms were worth $4,536,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Valley Financial Group Inc. raised its holdings in shares of Meta Platforms by 2.4% during the fourth quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company’s stock valued at $344,000 after acquiring an additional 14 shares during the period. Lantern Wealth Advisors LLC raised its holdings in shares of Meta Platforms by 0.5% during the fourth quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company’s stock valued at $1,743,000 after acquiring an additional 14 shares during the period. Seelaus Asset Management LLC raised its holdings in shares of 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 acquiring an additional 15 shares during the period. Meredith Wealth Planning raised its holdings in shares of Meta Platforms by 0.8% during the fourth quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company’s stock valued at $1,097,000 after acquiring an additional 15 shares during the period. Finally, Maiden Cove Capital LLC raised its holdings in shares of Meta Platforms by 3.2% during the fourth quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company’s stock valued at $282,000 after acquiring an additional 15 shares during the period. Institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling

In related news, COO Javier Olivan sold 608 shares of the business’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $488.18, for a total transaction of $296,813.44. Following the transaction, the chief operating officer now owns 5,622 shares of the company’s stock, valued at approximately $2,744,547.96. The trade was a 9.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 7,802 shares of the business’s stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $701.96, for a total transaction of $5,476,691.92. Following the transaction, the chief executive officer now directly owns 110,477 shares in the company, valued at $77,550,434.92. This trade represents a 6.60% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 86,201 shares of company stock valued at $56,377,837. 13.61% of the stock is owned by company insiders.

Analyst Ratings Changes

META has been the topic of a number of recent analyst reports. Oppenheimer boosted their price target on shares of Meta Platforms from $650.00 to $665.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. Wedbush increased their price target on shares of Meta Platforms from $680.00 to $750.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. Scotiabank reduced their price target on shares of Meta Platforms from $627.00 to $525.00 and set a “sector perform” rating for the company in a research report on Monday, April 21st. Royal Bank of Canada reissued an “outperform” rating and issued a $740.00 price target on shares of Meta Platforms in a research report on Thursday, May 1st. Finally, The Goldman Sachs Group increased their price target on shares of Meta Platforms from $685.00 to $690.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. One research 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 issued a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus price target of $704.26.

Meta Platforms Trading Down 1.5%

NASDAQ:META opened at $682.87 on Friday. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91. The firm has a market cap of $1.72 trillion, a price-to-earnings ratio of 28.55, a P/E/G ratio of 1.42 and a beta of 1.26. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The company’s 50 day moving average is $604.07 and its 200-day moving average is $619.60.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating analysts’ consensus estimates of $5.33 by $1.10. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The company had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same quarter last year, the firm posted $4.71 earnings per share. The company’s quarterly revenue was up 16.1% compared to the same quarter last year. Equities analysts anticipate 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. Stockholders of record on Monday, June 16th will be paid a $0.525 dividend. The ex-dividend date is Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.31%. Meta Platforms’s payout ratio 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.