Meta Platforms, Inc. (NASDAQ:META) Shares Sold by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC decreased its stake in Meta Platforms, Inc. (NASDAQ:META) by 2.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,690 shares of the social networking company’s stock after selling 421 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Meta Platforms were worth $7,450,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Delos Wealth Advisors LLC increased its stake in Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after buying an additional 58 shares in the last quarter. POM Investment Strategies LLC acquired a new stake in shares of Meta Platforms in the second quarter worth approximately $38,000. Ruedi Wealth Management Inc. increased its position in shares of Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after purchasing an additional 44 shares in the last quarter. Richardson Financial Services Inc. increased its position in shares of Meta Platforms by 95.6% during the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after purchasing an additional 43 shares in the last quarter. Finally, Quest Partners LLC acquired a new position in Meta Platforms in the 4th quarter valued at $32,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Up 0.5 %

Meta Platforms stock opened at $564.41 on Tuesday. The firm has a market capitalization of $1.43 trillion, a P/E ratio of 32.42, a P/E/G ratio of 1.26 and a beta of 1.21. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a twelve month low of $279.40 and a twelve month high of $573.98. The stock’s fifty day simple moving average is $507.58 and its 200-day simple moving average is $497.28.

Meta Platforms (NASDAQ:META) last released 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 during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the firm posted $3.23 EPS. As a group, equities analysts expect that Meta Platforms, Inc. will post 21.36 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Monday, September 16th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. Meta Platforms’s payout ratio is 11.49%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on META shares. Roth Mkm lifted their target price on shares of Meta Platforms from $510.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. boosted their price target on shares of Meta Platforms from $480.00 to $610.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Jefferies Financial Group increased their price objective on shares of Meta Platforms from $565.00 to $600.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company raised their target price on shares of Meta Platforms from $625.00 to $647.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, Robert W. Baird upped their price target on Meta Platforms from $500.00 to $530.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have given a hold rating, thirty-four have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $578.92.

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $510.88, for a total transaction of $8,532,717.76. Following the completion of the transaction, the chief executive officer now owns 230,461 shares in the company, valued at approximately $117,737,915.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Meta Platforms news, CFO Susan J. Li sold 8,950 shares of Meta Platforms stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the completion of the sale, the chief financial officer now directly owns 74,579 shares of the company’s stock, valued at approximately $39,285,234.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $510.88, for a total value of $8,532,717.76. Following the transaction, the chief executive officer now directly owns 230,461 shares of the company’s stock, valued at $117,737,915.68. The disclosure for this sale can be found here. Insiders have sold a total of 365,761 shares of company stock valued at $190,846,038 over the last 90 days. 13.71% of the stock is owned by corporate insiders.

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.