Trek Financial LLC Has $2.21 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Trek Financial LLC lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 4.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,774 shares of the social networking company’s stock after acquiring an additional 174 shares during the quarter. Trek Financial LLC’s holdings in Meta Platforms were worth $2,210,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. JDM Financial Group LLC bought a new position in Meta Platforms during the 3rd quarter worth approximately $30,000. Millstone Evans Group LLC acquired a new stake in shares of Meta Platforms during the fourth quarter worth $40,000. Avondale Wealth Management bought a new position in Meta Platforms during the fourth quarter worth $41,000. WealthTrak Capital Management LLC acquired a new position in Meta Platforms in the fourth quarter valued at $43,000. Finally, Cordant Inc. bought a new stake in Meta Platforms during the fourth quarter valued at $59,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $504.73 on Monday. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The stock has a fifty day simple moving average of $648.15 and a two-hundred day simple moving average of $610.77. Meta Platforms, Inc. has a 1-year low of $414.50 and a 1-year high of $740.91. The firm has a market cap of $1.28 trillion, a price-to-earnings ratio of 21.10, a price-to-earnings-growth ratio of 1.42 and a beta of 1.28.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, topping the consensus estimate of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same quarter in the prior year, the business posted $5.33 earnings per share. Analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Friday, March 14th were paid a dividend of $0.525 per share. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date was Friday, March 14th. Meta Platforms’s dividend payout ratio is presently 8.78%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on META shares. Arete Research raised Meta Platforms to a “hold” rating in a research note on Friday, January 24th. JPMorgan Chase & Co. boosted their price target on Meta Platforms from $660.00 to $725.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Wedbush reiterated an “outperform” rating and issued a $770.00 price objective (up previously from $700.00) on shares of Meta Platforms in a research note on Thursday, January 30th. JMP Securities reiterated a “market outperform” rating and set a $750.00 target price on shares of Meta Platforms in a research report on Monday, January 27th. Finally, KeyCorp decreased their price target on shares of Meta Platforms from $750.00 to $710.00 and set an “overweight” rating for the company in a research note on Tuesday, March 18th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and an average target price of $718.55.

Insider Buying and Selling

In other Meta Platforms news, COO Javier Olivan sold 608 shares of the firm’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $563.03, for a total value of $342,322.24. Following the completion of the transaction, the chief operating officer now owns 6,230 shares in the company, valued at $3,507,676.90. This trade represents a 8.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $631.55, for a total transaction of $571,552.75. Following the completion of the sale, the insider now directly owns 32,010 shares in the company, valued at approximately $20,215,915.50. The trade was a 2.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 535,725 shares of company stock valued at $356,391,449. Company insiders own 13.71% of the company’s stock.

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.