Everpar Advisors LLC Has $3.20 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Everpar Advisors LLC increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 23.2% in the second quarter, Holdings Channel.com reports. The fund owned 6,349 shares of the social networking company’s stock after buying an additional 1,196 shares during the quarter. Meta Platforms comprises about 1.6% of Everpar Advisors LLC’s portfolio, making the stock its 9th largest holding. Everpar Advisors LLC’s holdings in Meta Platforms were worth $3,201,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of META. Norges Bank purchased a new position in Meta Platforms during the 4th quarter worth $11,285,855,000. Capital Research Global Investors increased its holdings in Meta Platforms by 17.2% during the 4th quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock worth $10,695,722,000 after purchasing an additional 4,440,229 shares during the period. Concentrum Wealth Management increased its holdings in Meta Platforms by 111.0% during the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after purchasing an additional 3,888,308 shares during the period. Vanguard Group Inc. increased its holdings in Meta Platforms by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock worth $65,960,215,000 after purchasing an additional 3,104,550 shares during the period. Finally, Jennison Associates LLC increased its holdings in Meta Platforms by 24.7% during the 1st quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock worth $6,733,731,000 after purchasing an additional 2,748,620 shares during the period. 79.91% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on META shares. BNP Paribas initiated coverage on Meta Platforms in a report on Thursday, May 2nd. They set an “underperform” rating and a $360.00 price objective on the stock. Wedbush reiterated an “outperform” rating and issued a $570.00 price target on shares of Meta Platforms in a report on Wednesday, July 24th. Benchmark reiterated a “hold” rating on shares of Meta Platforms in a report on Thursday, July 25th. Canaccord Genuity Group cut their price target on Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Finally, Wells Fargo & Company lifted their price target on Meta Platforms from $625.00 to $647.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-three have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $574.41.

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $467.57, for a total transaction of $423,150.85. Following the transaction, the insider now owns 43,275 shares in the company, valued at $20,234,091.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $467.57, for a total transaction of $423,150.85. Following the transaction, the insider now owns 43,275 shares in the company, valued at $20,234,091.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $528.51, for a total value of $8,827,174.02. Following the transaction, the chief executive officer now owns 72,473 shares in the company, valued at approximately $38,302,705.23. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 349,174 shares of company stock worth $175,146,777. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Stock Down 1.8 %

Meta Platforms stock opened at $527.42 on Monday. The firm has a market cap of $1.34 trillion, a price-to-earnings ratio of 30.29, a price-to-earnings-growth ratio of 1.27 and a beta of 1.21. Meta Platforms, Inc. has a 52 week low of $274.38 and a 52 week high of $542.81. The business’s 50-day moving average price is $500.48 and its 200 day moving average price is $488.50. The company has a quick ratio of 2.68, a current ratio of 2.83 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.70 by $0.46. The firm had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. Meta Platforms’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period last year, the company earned $3.23 earnings per share. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 20.5 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.38%. The ex-dividend date was Friday, June 14th. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

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.