Trivant Custom Portfolio Group LLC Boosts Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Trivant Custom Portfolio Group LLC lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,877 shares of the social networking company’s stock after purchasing an additional 21 shares during the period. Meta Platforms comprises about 2.3% of Trivant Custom Portfolio Group LLC’s investment portfolio, making the stock its 14th biggest holding. Trivant Custom Portfolio Group LLC’s holdings in Meta Platforms were worth $3,937,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Delos Wealth Advisors LLC increased its stake in Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after purchasing an additional 58 shares during the last quarter. POM Investment Strategies LLC acquired a new position in shares of Meta Platforms during the second quarter valued at $38,000. Ruedi Wealth Management Inc. boosted its holdings in shares of Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after acquiring an additional 44 shares during the period. Halpern Financial Inc. bought a new position in shares of Meta Platforms during the third quarter worth about $46,000. Finally, Richardson Financial Services Inc. increased its holdings in shares of Meta Platforms by 95.6% in the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after acquiring an additional 43 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on META shares. Morgan Stanley upped their target price on shares of Meta Platforms from $550.00 to $575.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Guggenheim increased their price objective on Meta Platforms from $500.00 to $600.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. DA Davidson assumed coverage on Meta Platforms in a research report on Tuesday, September 10th. They issued a “buy” rating and a $600.00 target price on the stock. The Goldman Sachs Group boosted their price target on Meta Platforms from $522.00 to $555.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Citigroup raised their price target on Meta Platforms from $580.00 to $645.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $598.08.

Meta Platforms Stock Up 2.3 %

Shares of Meta Platforms stock traded up $13.17 on Friday, hitting $595.94. 14,199,788 shares of the company traded hands, compared to its average volume of 15,523,651. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 12-month low of $279.40 and a 12-month high of $596.85. The company has a 50-day moving average price of $527.07 and a 200 day moving average price of $502.60. The company has a market cap of $1.51 trillion, a PE ratio of 34.23, a PEG ratio of 1.39 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. During the same period in the prior year, the firm posted $3.23 EPS. The business’s revenue was up 22.1% compared to the same quarter last year. Sell-side analysts predict that Meta Platforms, Inc. will post 21.36 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.34%. The ex-dividend date was Monday, September 16th. Meta Platforms’s payout ratio is presently 11.49%.

Insider Buying and Selling at Meta Platforms

In other news, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $578.55, for a total transaction of $523,587.75. Following the transaction, the insider now owns 35,102 shares in the company, valued at $20,308,262.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Meta Platforms news, COO Javier Olivan sold 413 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $570.00, for a total value of $235,410.00. Following the completion of the sale, the chief operating officer now owns 12,359 shares of the company’s stock, valued at $7,044,630. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $578.55, for a total value of $523,587.75. Following the transaction, the insider now directly owns 35,102 shares in the company, valued at approximately $20,308,262.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 300,228 shares of company stock worth $158,005,260 over the last ninety days. 13.71% of the stock is currently owned by insiders.

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.