Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Evergreen Wealth Management LLC

Evergreen Wealth Management LLC cut its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 11.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,801 shares of the social networking company's stock after selling 1,403 shares during the quarter. Meta Platforms makes up approximately 3.7% of Evergreen Wealth Management LLC's investment portfolio, making the stock its 8th largest holding. Evergreen Wealth Management LLC's holdings in Meta Platforms were worth $6,183,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. POM Investment Strategies LLC acquired a new stake in Meta Platforms during the second quarter worth about $38,000. Ruedi Wealth Management Inc. grew its holdings in Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company's stock worth $40,000 after acquiring an additional 44 shares during the last quarter. Halpern Financial Inc. bought a new stake in Meta Platforms during the 3rd quarter worth approximately $46,000. West Financial Advisors LLC bought a new stake in Meta Platforms during the 3rd quarter worth approximately $49,000. Finally, NewSquare Capital LLC lifted its position in shares of Meta Platforms by 221.9% in the 2nd quarter. NewSquare Capital LLC now owns 103 shares of the social networking company's stock worth $52,000 after purchasing an additional 71 shares during the period. 79.91% of the stock is owned by institutional investors.

Insider Buying and Selling at Meta Platforms

In other news, insider Jennifer Newstead sold 905 shares of the firm's stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $507.63, for a total value of $459,405.15. Following the transaction, the insider now owns 37,817 shares in the company, valued at $19,197,043.71. This trade represents a 2.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Aaron Anderson sold 731 shares of Meta Platforms stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $407,167.00. Following the transaction, the chief accounting officer now owns 3,414 shares in the company, valued at approximately $1,901,598. The trade was a 17.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 185,958 shares of company stock valued at $101,181,747 in the last quarter. 13.71% of the stock is owned by insiders.

Meta Platforms Stock Performance

Shares of NASDAQ:META traded up $0.01 during mid-day trading on Wednesday, reaching $561.10. 5,639,719 shares of the company traded hands, compared to its average volume of 14,995,385. The company's 50 day moving average price is $570.23 and its 200-day moving average price is $522.73. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. Meta Platforms, Inc. has a 52 week low of $313.66 and a 52 week high of $602.95. The firm has a market cap of $1.42 trillion, a PE ratio of 26.23, a PEG ratio of 1.23 and a beta of 1.22.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.19 by $0.84. The business had revenue of $40.59 billion for the quarter, compared to analysts' expectations of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. On average, equities analysts expect that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend 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%.

Wall Street Analyst Weigh In

META has been the topic of a number of research reports. Evercore ISI boosted their target price on shares of Meta Platforms from $550.00 to $600.00 and gave the company an "outperform" rating in a research report on Thursday, August 1st. BMO Capital Markets boosted 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 report on Thursday, October 31st. Morgan Stanley boosted their price target on shares of Meta Platforms from $550.00 to $575.00 and gave the company an "overweight" rating in a research note on Thursday, August 1st. Oppenheimer boosted their price target on shares of Meta Platforms from $525.00 to $615.00 and gave the company an "outperform" rating in a research note on Thursday, August 1st. Finally, Truist Financial boosted their price target on shares of Meta Platforms from $570.00 to $650.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $634.10.

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.