TrinityPoint Wealth LLC Buys 1,540 Shares of Meta Platforms, Inc. (NASDAQ:META)

TrinityPoint Wealth LLC lifted its stake in Meta Platforms, Inc. (NASDAQ:META) by 13.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,793 shares of the social networking company’s stock after purchasing an additional 1,540 shares during the period. Meta Platforms comprises about 1.1% of TrinityPoint Wealth LLC’s investment portfolio, making the stock its 18th largest position. TrinityPoint Wealth LLC’s holdings in Meta Platforms were worth $7,491,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the business. True Wealth Design LLC lifted its stake in Meta Platforms by 76.6% in the fourth quarter. True Wealth Design LLC now owns 113 shares of the social networking company’s stock worth $66,000 after acquiring an additional 49 shares during the period. Two Star Manager LLC lifted its stake in Meta Platforms by 1.9% in the fourth quarter. Two Star Manager LLC now owns 27,111 shares of the social networking company’s stock worth $15,874,000 after acquiring an additional 505 shares during the period. State of Wyoming lifted its stake in Meta Platforms by 105.5% in the fourth quarter. State of Wyoming now owns 11,375 shares of the social networking company’s stock worth $6,660,000 after acquiring an additional 5,840 shares during the period. Stonebrook Private Inc. lifted its stake in Meta Platforms by 5.2% in the fourth quarter. Stonebrook Private Inc. now owns 5,279 shares of the social networking company’s stock worth $3,091,000 after acquiring an additional 263 shares during the period. Finally, Strategic Global Advisors LLC lifted its stake in Meta Platforms by 4.3% in the fourth quarter. Strategic Global Advisors LLC now owns 21,263 shares of the social networking company’s stock worth $12,450,000 after acquiring an additional 867 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Meta Platforms news, COO Javier Olivan sold 608 shares of Meta Platforms stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $736.07, for a total transaction of $447,530.56. Following the sale, the chief operating officer now owns 9,878 shares of the company’s stock, valued at $7,270,899.46. The trade was a 5.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jennifer Newstead sold 921 shares of Meta Platforms stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $736.07, for a total transaction of $677,920.47. Following the sale, the insider now directly owns 35,787 shares in the company, valued at approximately $26,341,737.09. This trade represents a 2.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 62,852 shares of company stock valued at $41,665,958 in the last 90 days. 13.71% of the stock is owned by insiders.

Meta Platforms Price Performance

Meta Platforms stock opened at $640.34 on Friday. The company’s fifty day moving average price is $571.37 and its 200 day moving average price is $606.82. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $740.91. The stock has a market capitalization of $1.61 trillion, a P/E ratio of 26.77, a P/E/G ratio of 1.42 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results 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. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The firm had revenue of $42.31 billion for the quarter, compared to analysts’ expectations of $41.45 billion. During the same quarter last year, the company earned $4.71 EPS. The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

META has been the subject of several recent analyst reports. Citigroup raised their target price on shares of Meta Platforms from $655.00 to $690.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Moffett Nathanson raised their target price on shares of Meta Platforms from $525.00 to $605.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Wedbush raised their target price on shares of Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. Jefferies Financial Group decreased their price objective on shares of Meta Platforms from $725.00 to $600.00 and set a “buy” rating for the company in a research report on Monday, April 7th. Finally, The Goldman Sachs Group increased their price objective on shares of Meta Platforms from $685.00 to $690.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $701.05.

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.