Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Triumph Capital Management

Triumph Capital Management trimmed its position in Meta Platforms, Inc. (NASDAQ:META) by 42.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,992 shares of the social networking company’s stock after selling 1,449 shares during the quarter. Triumph Capital Management’s holdings in Meta Platforms were worth $705,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of META. Daiwa Securities Group Inc. lifted its position in shares of Meta Platforms by 7.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company’s stock worth $159,841,000 after buying an additional 32,423 shares during the last quarter. Bank of Stockton grew its holdings in shares of Meta Platforms by 9.2% during the fourth quarter. Bank of Stockton now owns 4,743 shares of the social networking company’s stock worth $1,819,000 after purchasing an additional 400 shares during the last quarter. Signify Wealth acquired a new stake in shares of Meta Platforms during the fourth quarter worth about $228,000. Illinois Municipal Retirement Fund lifted its holdings in shares of Meta Platforms by 1.8% in the 4th quarter. Illinois Municipal Retirement Fund now owns 223,788 shares of the social networking company’s stock valued at $79,212,000 after purchasing an additional 4,025 shares during the last quarter. Finally, Investment Research & Advisory Group Inc. boosted its position in shares of Meta Platforms by 1.5% in the 4th quarter. Investment Research & Advisory Group Inc. now owns 10,962 shares of the social networking company’s stock valued at $3,880,000 after purchasing an additional 164 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, COO Javier Olivan sold 490 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $441.54, for a total transaction of $216,354.60. Following the completion of the sale, the chief operating officer now directly owns 6,599 shares of the company’s stock, valued at approximately $2,913,722.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Javier Olivan sold 490 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $441.54, for a total transaction of $216,354.60. Following the completion of the sale, the chief operating officer now owns 6,599 shares in the company, valued at approximately $2,913,722.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Andrew Bosworth sold 8,036 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $473.28, for a total transaction of $3,803,278.08. Following the sale, the chief technology officer now directly owns 18,432 shares of the company’s stock, valued at approximately $8,723,496.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,257,291 shares of company stock valued at $612,916,087. Insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Bank of America increased their price objective on Meta Platforms from $425.00 to $510.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Guggenheim decreased their price target on shares of Meta Platforms from $520.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Jefferies Financial Group dropped their price objective on shares of Meta Platforms from $585.00 to $540.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. KeyCorp decreased their target price on shares of Meta Platforms from $575.00 to $555.00 and set an “overweight” rating for the company in a research note on Monday, April 22nd. Finally, Benchmark restated a “hold” rating on shares of Meta Platforms in a research report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $509.18.

Meta Platforms Price Performance

META stock traded up $10.75 during trading on Wednesday, hitting $440.92. The stock had a trading volume of 10,994,730 shares, compared to its average volume of 18,322,441. The company’s 50 day moving average price is $492.83 and its two-hundred day moving average price is $406.97. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. The stock has a market cap of $1.12 trillion, a price-to-earnings ratio of 24.87, a price-to-earnings-growth ratio of 1.12 and a beta of 1.20. Meta Platforms, Inc. has a 1-year low of $229.85 and a 1-year high of $531.49.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The business had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. On average, sell-side analysts forecast that Meta Platforms, Inc. will post 20.17 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd were issued a dividend of $0.50 per share. The ex-dividend date was Wednesday, February 21st. This represents a $2.00 annualized dividend and a dividend yield of 0.45%. Meta Platforms’s payout ratio is currently 11.49%.

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.