Summit Trail Advisors LLC Has $17.40 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Summit Trail Advisors LLC boosted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 35.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,710 shares of the social networking company’s stock after buying an additional 7,711 shares during the quarter. Meta Platforms makes up 0.6% of Summit Trail Advisors LLC’s holdings, making the stock its 22nd biggest holding. Summit Trail Advisors LLC’s holdings in Meta Platforms were worth $17,396,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in META. JDM Financial Group LLC bought a new position in shares of Meta Platforms during the 3rd quarter worth approximately $30,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Meta Platforms during the third quarter worth approximately $36,000. Avondale Wealth Management acquired a new position in shares of Meta Platforms during the fourth quarter worth approximately $41,000. Cordant Inc. purchased a new stake in Meta Platforms in the 4th quarter valued at $59,000. Finally, Reston Wealth Management LLC purchased a new stake in Meta Platforms in the 3rd quarter valued at $61,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, COO Javier Olivan sold 413 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $562.77, for a total transaction of $232,424.01. Following the completion of the sale, the chief operating officer now directly owns 19,579 shares of the company’s stock, valued at approximately $11,018,473.83. This represents a 2.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 19,668 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $721.69, for a total transaction of $14,194,198.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 751,033 shares of company stock valued at $480,911,671. 13.71% of the stock is owned by company insiders.

Meta Platforms Stock Performance

Meta Platforms stock opened at $736.67 on Monday. The firm’s 50 day simple moving average is $638.73 and its 200-day simple moving average is $584.28. The company has a market cap of $1.87 trillion, a P/E ratio of 30.80, a price-to-earnings-growth ratio of 1.46 and a beta of 1.20. 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, Inc. has a fifty-two week low of $414.50 and a fifty-two week high of $740.91.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same quarter in the prior year, the firm earned $5.33 EPS. As a group, equities research analysts predict that Meta Platforms, Inc. will post 26.66 EPS for the current year.

Meta Platforms Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.29%. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, March 14th. Meta Platforms’s payout ratio is presently 8.36%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Mizuho raised their price target on Meta Platforms from $675.00 to $750.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Raymond James reissued a “strong-buy” rating and set a $800.00 price objective (up from $725.00) on shares of Meta Platforms in a report on Thursday, January 30th. Citigroup lifted their price target on Meta Platforms from $753.00 to $780.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Arete Research upgraded Meta Platforms to a “hold” rating in a research report on Friday, January 24th. Finally, KeyCorp boosted their price target on Meta Platforms from $700.00 to $750.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $717.90.

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.