Triangle Securities Wealth Management Has $2.73 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Triangle Securities Wealth Management grew its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,741 shares of the social networking company’s stock after acquiring an additional 68 shares during the quarter. Triangle Securities Wealth Management’s holdings in Meta Platforms were worth $2,733,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of META. Suvretta Capital Management LLC boosted its holdings 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 valued at $99,735,000 after buying an additional 1,850 shares during the last quarter. Skye Global Management LP boosted its holdings in shares of Meta Platforms by 130.9% in the 4th quarter. Skye Global Management LP now owns 76,200 shares of the social networking company’s stock valued at $44,616,000 after buying an additional 43,200 shares during the last quarter. Brueske Advisory Services LLC acquired a new stake in shares of Meta Platforms in the 4th quarter valued at approximately $459,000. Apollon Financial LLC raised its stake in Meta Platforms by 11.1% in the 4th quarter. Apollon Financial LLC now owns 1,479 shares of the social networking company’s stock valued at $866,000 after acquiring an additional 148 shares during the period. Finally, Kovitz Investment Group Partners LLC raised its stake in Meta Platforms by 255.9% in the 4th 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 acquiring an additional 1,229,350 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

META has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price target on Meta Platforms from $610.00 to $675.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. Roth Capital increased their price target on Meta Platforms from $580.00 to $620.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Royal Bank of Canada restated an “outperform” rating and issued a $740.00 price target on shares of Meta Platforms in a research note on Thursday, May 1st. UBS Group increased their price target on Meta Platforms from $650.00 to $683.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Finally, Jefferies Financial Group dropped their price target on Meta Platforms from $725.00 to $600.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $701.05.

Insider Activity

In related news, COO Javier Olivan sold 517 shares of Meta Platforms stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $635.41, for a total value of $328,506.97. Following the transaction, the chief operating officer now directly owns 10,438 shares of the company’s stock, valued at $6,632,409.58. The trade was a 4.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Andrew Bosworth sold 5,057 shares of Meta Platforms 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 $3,334,383.52. Following the completion of the transaction, the chief technology officer now directly owns 16,463 shares in the company, valued at approximately $10,855,043.68. This represents a 23.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,135 shares of company stock valued at $34,481,779. 13.61% of the stock is currently owned by corporate insiders.

Meta Platforms Stock Performance

Shares of META stock opened at $666.85 on Wednesday. The business’s 50-day moving average price is $581.05 and its 200-day moving average price is $612.48. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91. The firm has a market capitalization of $1.68 trillion, a price-to-earnings ratio of 27.88, a PEG ratio of 1.42 and a beta of 1.24. 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 (NASDAQ:META) last announced its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating analysts’ consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The firm had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same period last year, the firm posted $4.71 earnings per share. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. Equities research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date of this dividend is Monday, June 16th. Meta Platforms’s payout ratio is 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.