Trilogy Capital Inc. Increases Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Trilogy Capital Inc. raised its stake in Meta Platforms, Inc. (NASDAQ:META) by 80.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,754 shares of the social networking company’s stock after acquiring an additional 783 shares during the period. Trilogy Capital Inc.’s holdings in Meta Platforms were worth $852,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ameriprise Financial Inc. increased its holdings in shares of Meta Platforms by 7.7% in the third quarter. Ameriprise Financial Inc. now owns 8,314,722 shares of the social networking company’s stock valued at $2,496,450,000 after purchasing an additional 592,085 shares during the period. Alps Advisors Inc. grew its position in Meta Platforms by 69.9% in the 3rd quarter. Alps Advisors Inc. now owns 26,817 shares of the social networking company’s stock valued at $8,051,000 after buying an additional 11,033 shares during the last quarter. Alerus Financial NA increased its stake in Meta Platforms by 503.5% in the 3rd quarter. Alerus Financial NA now owns 22,920 shares of the social networking company’s stock valued at $6,881,000 after buying an additional 19,122 shares during the period. Adage Capital Partners GP L.L.C. raised its position in Meta Platforms by 0.3% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 2,211,935 shares of the social networking company’s stock worth $664,045,000 after buying an additional 6,300 shares during the last quarter. Finally, Evergreen Capital Management LLC lifted its stake in shares of Meta Platforms by 0.4% in the 3rd quarter. Evergreen Capital Management LLC now owns 28,577 shares of the social networking company’s stock worth $8,579,000 after acquiring an additional 125 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analysts Set New Price Targets

META has been the subject of a number of analyst reports. BMO Capital Markets reissued a “market perform” rating and set a $450.00 target price on shares of Meta Platforms in a research note on Wednesday, June 12th. JMP Securities reissued a “market outperform” rating and issued a $550.00 target price on shares of Meta Platforms in a report on Monday, April 22nd. Wedbush decreased their price target on Meta Platforms from $570.00 to $480.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Robert W. Baird dropped their price target on Meta Platforms from $525.00 to $500.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Finally, Oppenheimer decreased their price objective on shares of Meta Platforms from $585.00 to $500.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $510.05.

Insider Buying and Selling

In other Meta Platforms news, CTO Andrew Bosworth sold 5,058 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total transaction of $2,386,617.30. Following the completion of the transaction, the chief technology officer now directly owns 15,412 shares of the company’s stock, valued at approximately $7,272,152.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CTO Andrew Bosworth sold 5,058 shares of Meta Platforms stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total value of $2,386,617.30. Following the completion of the transaction, the chief technology officer now directly owns 15,412 shares in the company, valued at $7,272,152.20. 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 8,951 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total value of $4,223,529.35. Following the sale, the chief financial officer now owns 74,580 shares in the company, valued at approximately $35,190,573. The disclosure for this sale can be found here. Over the last quarter, insiders sold 201,557 shares of company stock worth $97,894,296. Insiders own 13.71% of the company’s stock.

Meta Platforms Trading Down 3.0 %

NASDAQ META opened at $504.22 on Monday. The stock has a market cap of $1.28 trillion, a P/E ratio of 28.96, a PEG ratio of 1.31 and a beta of 1.21. The company’s fifty day simple moving average is $480.00 and its 200-day simple moving average is $455.62. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 52 week low of $274.38 and a 52 week high of $531.49.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The company had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. Equities research analysts predict that Meta Platforms, Inc. will post 20.16 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s payout ratio is currently 11.49%.

Meta Platforms Company 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.