Evoke Wealth LLC Has $29.14 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Evoke Wealth LLC grew its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 217.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,769 shares of the social networking company's stock after acquiring an additional 34,106 shares during the period. Evoke Wealth LLC's holdings in Meta Platforms were worth $29,140,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Horizon Investments LLC lifted its stake in shares of Meta Platforms by 116.8% during the 4th quarter. Horizon Investments LLC now owns 28,912 shares of the social networking company's stock worth $16,928,000 after buying an additional 15,574 shares during the last quarter. Carlson Capital Management raised its stake in Meta Platforms by 6.6% in the 4th quarter. Carlson Capital Management now owns 1,896 shares of the social networking company's stock worth $1,110,000 after purchasing an additional 118 shares in the last quarter. Thrivent Financial for Lutherans grew its position in Meta Platforms by 1.9% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,488,210 shares of the social networking company's stock worth $871,314,000 after buying an additional 28,211 shares in the last quarter. Custos Family Office LLC acquired a new stake in Meta Platforms during the fourth quarter worth about $307,000. Finally, PDS Planning Inc boosted its position in shares of Meta Platforms by 1.3% during the 4th quarter. PDS Planning Inc now owns 9,950 shares of the social networking company's stock worth $5,826,000 after acquiring an additional 132 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company's stock.

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Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 413 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $589.16, for a total transaction of $243,323.08. Following the sale, the chief operating officer now directly owns 17,514 shares of the company's stock, valued at approximately $10,318,548.24. This represents a 2.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jennifer Newstead sold 905 shares of the company's stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $602.47, for a total value of $545,235.35. Following the transaction, the insider now owns 33,820 shares of the company's stock, valued at approximately $20,375,535.40. The trade was a 2.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 622,431 shares of company stock worth $408,968,491 over the last quarter. 13.71% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

META has been the subject of a number of recent research reports. Susquehanna upped their target price on Meta Platforms from $675.00 to $800.00 and gave the stock a "positive" rating in a report on Thursday, January 30th. Royal Bank of Canada boosted their target price on shares of Meta Platforms from $700.00 to $800.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Benchmark raised shares of Meta Platforms from a "hold" rating to a "buy" rating and set a $820.00 price target for the company in a research report on Thursday, January 30th. UBS Group lifted their price objective on shares of Meta Platforms from $736.00 to $786.00 and gave the stock a "buy" rating in a report on Thursday, January 30th. Finally, Citigroup boosted their target price on shares of Meta Platforms from $753.00 to $780.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $718.31.

Meta Platforms Trading Up 3.9 %

META traded up $23.30 during trading on Monday, hitting $619.55. 15,717,566 shares of the company's stock were exchanged, compared to its average volume of 13,812,137. Meta Platforms, Inc. has a 1 year low of $414.50 and a 1 year high of $740.91. The stock has a 50 day moving average price of $655.38 and a 200 day moving average price of $606.39. The firm has a market cap of $1.57 trillion, a P/E ratio of 25.90, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating analysts' consensus estimates of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same period in the prior year, the company earned $5.33 earnings per share. As a group, analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.525 per share. This is a positive change from Meta Platforms's previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a yield of 0.34%. The ex-dividend date is Friday, March 14th. Meta Platforms's dividend payout ratio (DPR) is currently 8.78%.

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.