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

TrinityPoint Wealth LLC raised its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 13.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 accounts for about 1.1% of TrinityPoint Wealth LLC’s holdings, making the stock its 18th largest holding. TrinityPoint Wealth LLC’s holdings in Meta Platforms were worth $7,491,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. True Wealth Design LLC raised its position in shares of Meta Platforms by 76.6% in the 4th 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 in the last quarter. Two Star Manager LLC raised its position in shares of Meta Platforms by 1.9% in the 4th 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 in the last quarter. State of Wyoming raised its position in shares of Meta Platforms by 105.5% in the 4th 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 in the last quarter. Stonebrook Private Inc. raised its position in shares of Meta Platforms by 5.2% in the 4th 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 in the last quarter. Finally, Strategic Global Advisors LLC raised its position in shares of Meta Platforms by 4.3% in the 4th 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 in the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

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

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. The company had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. Meta Platforms’s revenue was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.71 earnings per share. On average, equities analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 19,668 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $703.21, for a total transaction of $13,830,734.28. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jennifer Newstead sold 907 shares of the business’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $645.77, for a total transaction of $585,713.39. Following the transaction, the insider now owns 24,749 shares in the company, valued at $15,982,161.73. This trade represents a 3.54% 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 over the last 90 days. 13.71% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Monness Crespi & Hardt raised their price objective on Meta Platforms from $775.00 to $780.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $740.00 price objective on shares of Meta Platforms in a research report on Thursday, May 1st. UBS Group lifted their price objective on Meta Platforms from $650.00 to $683.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Wells Fargo & Company reduced their price objective on Meta Platforms from $752.00 to $664.00 and set an “overweight” rating for the company in a report on Thursday, May 1st. Finally, KeyCorp lifted their price objective on Meta Platforms from $645.00 to $655.00 and gave the stock an “overweight” rating in a 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 given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $701.05.

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.