Trifecta Capital Advisors LLC Buys 1,031 Shares of Meta Platforms, Inc. (NASDAQ:META)

Trifecta Capital Advisors LLC grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 8.1% in the fourth quarter, Holdings Channel reports. The fund owned 13,806 shares of the social networking company’s stock after acquiring an additional 1,031 shares during the quarter. Meta Platforms accounts for about 1.6% of Trifecta Capital Advisors LLC’s portfolio, making the stock its 18th largest position. Trifecta Capital Advisors LLC’s holdings in Meta Platforms were worth $8,084,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. JDM Financial Group LLC purchased a new stake in Meta Platforms during the third quarter valued at about $30,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Meta Platforms during the 3rd quarter valued at approximately $36,000. Avondale Wealth Management bought a new position in Meta Platforms in the 4th quarter worth approximately $41,000. Cordant Inc. purchased a new position in Meta Platforms in the 4th quarter valued at approximately $59,000. Finally, Reston Wealth Management LLC purchased a new position in Meta Platforms in the 3rd quarter valued at approximately $61,000. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

META stock opened at $668.20 on Monday. Meta Platforms, Inc. has a 1 year low of $414.50 and a 1 year high of $740.91. The company has a market cap of $1.69 trillion, a P/E ratio of 27.93, a PEG ratio of 1.42 and a beta of 1.20. The firm has a 50-day moving average of $653.18 and a 200 day moving average of $597.08. 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 earnings results 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 return on equity of 38.17% and a net margin of 37.91%. During the same period in the previous year, the firm posted $5.33 earnings per share. On average, sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.525 per share. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.31%. Meta Platforms’s dividend payout ratio (DPR) is currently 8.78%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on META shares. Citigroup raised their price target on Meta Platforms from $753.00 to $780.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. lifted their target price on Meta Platforms from $660.00 to $725.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Raymond James reissued a “strong-buy” rating and issued a $800.00 price target (up from $725.00) on shares of Meta Platforms in a report on Thursday, January 30th. Piper Sandler boosted their price objective on shares of Meta Platforms from $670.00 to $775.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $811.00 target price on shares of Meta Platforms in a report on Monday, January 27th. Two research 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $719.26.

Insider Activity

In related news, COO Javier Olivan sold 4,706 shares of the firm’s stock in a transaction that occurred on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total transaction of $3,466,769.02. Following the completion of the transaction, the chief operating officer now owns 20,935 shares of the company’s stock, valued at $15,422,186.45. This trade represents a 18.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Andrew Bosworth sold 5,060 shares of the business’s stock in a transaction on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total value of $3,727,550.20. Following the completion of the sale, the chief technology officer now directly owns 5,139 shares in the company, valued at $3,785,747.13. This trade represents a 49.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 813,538 shares of company stock worth $526,326,729. Insiders own 13.71% of the company’s stock.

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.