Meta Platforms, Inc. (NASDAQ:META) Position Decreased by Evergreen Wealth Management LLC

Evergreen Wealth Management LLC trimmed its stake in Meta Platforms, Inc. (NASDAQ:META) by 11.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,801 shares of the social networking company’s stock after selling 1,403 shares during the period. Meta Platforms accounts for approximately 3.7% of Evergreen Wealth Management LLC’s holdings, making the stock its 8th largest position. Evergreen Wealth Management LLC’s holdings in Meta Platforms were worth $6,183,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of META. LS Investment Advisors LLC lifted its stake in shares of Meta Platforms by 111.4% during the 3rd quarter. LS Investment Advisors LLC now owns 11,679 shares of the social networking company’s stock valued at $6,686,000 after buying an additional 6,155 shares in the last quarter. Gradient Investments LLC lifted its position in shares of Meta Platforms by 8.9% in the second quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company’s stock valued at $36,600,000 after acquiring an additional 5,953 shares in the last quarter. Cutter & CO Brokerage Inc. boosted its stake in shares of Meta Platforms by 0.7% in the third quarter. Cutter & CO Brokerage Inc. now owns 9,735 shares of the social networking company’s stock worth $5,573,000 after acquiring an additional 65 shares during the period. Stanley Laman Group Ltd. grew its position in shares of Meta Platforms by 26.5% during the second quarter. Stanley Laman Group Ltd. now owns 1,678 shares of the social networking company’s stock worth $846,000 after purchasing an additional 352 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in Meta Platforms by 1.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 412,046 shares of the social networking company’s stock valued at $235,872,000 after purchasing an additional 5,594 shares during the period. 79.91% of the stock is owned by institutional investors.

Meta Platforms Trading Up 1.2 %

META opened at $561.09 on Wednesday. Meta Platforms, Inc. has a 12 month low of $313.66 and a 12 month high of $602.95. The stock has a fifty day moving average price of $570.23 and a 200-day moving average price of $522.73. The firm has a market cap of $1.42 trillion, a price-to-earnings ratio of 26.43, a PEG ratio of 1.23 and a beta of 1.22. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The business had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. As a group, equities research analysts anticipate that Meta Platforms, Inc. will post 22.53 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.36%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is currently 9.42%.

Insider Transactions at Meta Platforms

In other news, CFO Susan J. Li sold 33,018 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total transaction of $17,101,342.92. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Javier Olivan sold 413 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $536.92, for a total transaction of $221,747.96. Following the transaction, the chief operating officer now owns 14,424 shares in the company, valued at approximately $7,744,534.08. This trade represents a 2.78 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 185,958 shares of company stock valued at $101,181,747. Corporate insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on META shares. Scotiabank cut their price objective on shares of Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating for the company in a report on Thursday, October 31st. BMO Capital Markets raised their target price on shares of Meta Platforms from $525.00 to $530.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. Bank of America boosted their price target on shares of Meta Platforms from $630.00 to $660.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Guggenheim raised their price objective on Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Finally, TD Cowen boosted their target price on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and a consensus target price of $634.10.

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.