Meta Platforms, Inc. (NASDAQ:META) Shares Sold by TriaGen Wealth Management LLC

TriaGen Wealth Management LLC lessened its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 5.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,040 shares of the social networking company’s stock after selling 114 shares during the period. TriaGen Wealth Management LLC’s holdings in Meta Platforms were worth $1,194,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ballentine Partners LLC increased its stake in Meta Platforms by 1.4% during the 4th quarter. Ballentine Partners LLC now owns 58,218 shares of the social networking company’s stock valued at $34,087,000 after buying an additional 808 shares during the period. UMB Bank n.a. boosted its holdings in shares of Meta Platforms by 0.6% in the fourth quarter. UMB Bank n.a. now owns 140,585 shares of the social networking company’s stock valued at $82,314,000 after acquiring an additional 897 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Meta Platforms by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock valued at $7,915,451,000 after acquiring an additional 118,298 shares during the period. LS Investment Advisors LLC increased its stake in shares of Meta Platforms by 111.4% during the third quarter. LS Investment Advisors LLC now owns 11,679 shares of the social networking company’s stock valued at $6,686,000 after acquiring an additional 6,155 shares during the period. Finally, Cutter & CO Brokerage Inc. increased its stake in shares of Meta Platforms by 0.7% during the third quarter. Cutter & CO Brokerage Inc. now owns 9,735 shares of the social networking company’s stock valued at $5,573,000 after acquiring an additional 65 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Mizuho raised their price objective on shares of Meta Platforms from $675.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Raymond James reiterated a “strong-buy” rating and set a $800.00 price objective (up previously from $725.00) on shares of Meta Platforms in a research note on Thursday, January 30th. JPMorgan Chase & Co. raised their price objective on shares of Meta Platforms from $660.00 to $725.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Morgan Stanley raised their price objective on shares of Meta Platforms from $600.00 to $660.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Finally, Roth Mkm raised their price objective on shares of Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $710.83.

Meta Platforms Stock Performance

META stock opened at $704.19 on Wednesday. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $1.78 trillion, a price-to-earnings ratio of 29.44, a P/E/G ratio of 1.47 and a beta of 1.20. Meta Platforms, Inc. has a 12 month low of $414.50 and a 12 month high of $710.79. The firm has a 50 day moving average of $618.86 and a two-hundred day moving average of $570.21.

Meta Platforms (NASDAQ:META) last released its quarterly 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 net margin of 37.91% and a return on equity of 38.17%. During the same period last year, the business earned $5.33 EPS. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 25.94 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date was Monday, December 16th. Meta Platforms’s dividend payout ratio is 8.36%.

Insider Activity

In other news, CEO Mark Zuckerberg sold 12,975 shares of Meta Platforms stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $696.39, for a total value of $9,035,660.25. Following the transaction, the chief executive officer now owns 210,971 shares of the company’s stock, valued at $146,918,094.69. This trade represents a 5.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $666.00, for a total transaction of $602,730.00. Following the completion of the transaction, the insider now directly owns 29,295 shares in the company, valued at approximately $19,510,470. This represents a 3.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 673,878 shares of company stock valued at $416,269,904 over the last 90 days. 13.71% of the stock is currently owned by company insiders.

Meta Platforms 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.