Trinity Financial Advisors LLC Has $3.01 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Trinity Financial Advisors LLC lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 367.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,216 shares of the social networking company’s stock after acquiring an additional 4,101 shares during the period. Meta Platforms accounts for about 0.6% of Trinity Financial Advisors LLC’s portfolio, making the stock its 23rd largest position. Trinity Financial Advisors LLC’s holdings in Meta Platforms were worth $3,006,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Suvretta Capital Management LLC grew its stake in shares of Meta Platforms by 1.1% in the 4th quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company’s stock worth $99,735,000 after acquiring an additional 1,850 shares in the last quarter. Skye Global Management LP lifted its holdings in Meta Platforms by 130.9% during the fourth quarter. Skye Global Management LP now owns 76,200 shares of the social networking company’s stock valued at $44,616,000 after purchasing an additional 43,200 shares during the last quarter. Brueske Advisory Services LLC purchased a new stake in Meta Platforms during the fourth quarter valued at about $459,000. Apollon Financial LLC lifted its holdings in Meta Platforms by 11.1% during the fourth quarter. Apollon Financial LLC now owns 1,479 shares of the social networking company’s stock valued at $866,000 after purchasing an additional 148 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC lifted its holdings in Meta Platforms by 255.9% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,709,694 shares of the social networking company’s stock valued at $1,001,044,000 after purchasing an additional 1,229,350 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on META. Evercore ISI upped their price objective on shares of Meta Platforms from $725.00 to $750.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. DA Davidson lowered their price target on shares of Meta Platforms from $800.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Raymond James lowered their price target on shares of Meta Platforms from $800.00 to $750.00 and set a “strong-buy” rating on the stock 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 report on Thursday, May 1st. Finally, Benchmark lowered their price target on shares of Meta Platforms from $820.00 to $640.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. One investment 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 company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $702.48.

Insider Activity at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 6,874 shares of the company’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total value of $4,532,440.64. Following the completion of the transaction, the chief financial officer now directly owns 70,040 shares in the company, valued at $46,181,574.40. This represents a 8.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 1,462 shares of the company’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $701.13, for a total value of $1,025,052.06. Following the sale, the chief executive officer now directly owns 139,538 shares in the company, valued at $97,834,277.94. This trade represents a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 85,682 shares of company stock worth $56,014,018. 13.61% of the stock is owned by company insiders.

Meta Platforms Trading Down 1.2%

Shares of NASDAQ:META opened at $694.14 on Thursday. The stock has a 50 day moving average of $597.08 and a 200 day moving average of $617.62. The company has a market cap of $1.75 trillion, a PE ratio of 29.02, a price-to-earnings-growth ratio of 1.42 and a beta of 1.26. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.33 by $1.10. The company had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The firm’s revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the company posted $4.71 EPS. As a group, equities research analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be paid a dividend of $0.525 per share. The ex-dividend date is Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.30%. Meta Platforms’s dividend payout ratio (DPR) is presently 8.19%.

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.