Evergreen Wealth Management LLC reduced its position in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,600 shares of the social networking company’s stock after selling 201 shares during the period. Meta Platforms comprises approximately 3.7% of Evergreen Wealth Management LLC’s holdings, making the stock its 9th largest position. Evergreen Wealth Management LLC’s holdings in Meta Platforms were worth $6,206,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the company. JDM Financial Group LLC purchased a new position in Meta Platforms during the third quarter valued at approximately $30,000. Safe Harbor Fiduciary LLC purchased a new position in Meta Platforms during the third quarter valued at approximately $36,000. Avondale Wealth Management purchased a new position in Meta Platforms during the fourth quarter valued at approximately $41,000. Cordant Inc. purchased a new position in Meta Platforms during the fourth quarter valued at approximately $59,000. Finally, Reston Wealth Management LLC purchased a new position in Meta Platforms during the third quarter valued at approximately $61,000. 79.91% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Meta Platforms
In other news, CEO Mark Zuckerberg sold 19,668 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $703.21, for a total value of $13,830,734.28. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Javier Olivan sold 413 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $577.49, for a total transaction of $238,503.37. Following the sale, the chief operating officer now directly owns 19,166 shares in the company, valued at approximately $11,068,173.34. This represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 809,804 shares of company stock valued at $523,576,440. 13.71% of the stock is owned by insiders.
Meta Platforms Trading Down 1.6 %
Shares of META stock opened at $683.62 on Monday. The firm has a fifty day moving average of $647.09 and a 200-day moving average of $591.96. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. Meta Platforms, Inc. has a 52-week low of $414.50 and a 52-week high of $740.91. The stock has a market cap of $1.73 trillion, a price-to-earnings ratio of 28.58, a P/E/G ratio of 1.42 and a beta of 1.20.
Meta Platforms (NASDAQ:META – Get Free Report) last posted its 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 net margin of 37.91% and a return on equity of 38.17%. During the same period last year, the business posted $5.33 EPS. On average, equities research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.
Meta Platforms Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be issued a $0.525 dividend. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, March 14th. This represents a $2.10 annualized dividend and a dividend yield of 0.31%. Meta Platforms’s dividend payout ratio is presently 8.78%.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on META. Scotiabank boosted their price objective on shares of Meta Platforms from $583.00 to $627.00 and gave the company a “sector perform” rating in a research report on Thursday, January 30th. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a research report on Monday, January 27th. Morgan Stanley boosted their target price on shares of Meta Platforms from $600.00 to $660.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. DA Davidson boosted their target price on shares of Meta Platforms from $700.00 to $800.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Finally, Barclays boosted their target price on shares of Meta Platforms from $630.00 to $705.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Two equities research 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 issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $719.26.
Check Out Our Latest Stock Analysis on META
Meta Platforms 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.
Further Reading
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