Everpar Advisors LLC Sells 216 Shares of Meta Platforms, Inc. (NASDAQ:META)

Everpar Advisors LLC cut its stake in Meta Platforms, Inc. (NASDAQ:META) by 3.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,133 shares of the social networking company’s stock after selling 216 shares during the quarter. Meta Platforms comprises about 1.8% of Everpar Advisors LLC’s investment portfolio, making the stock its 9th biggest position. Everpar Advisors LLC’s holdings in Meta Platforms were worth $3,511,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Delos Wealth Advisors LLC raised its stake in shares of Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after purchasing an additional 58 shares in the last quarter. POM Investment Strategies LLC bought a new position in Meta Platforms in the 2nd quarter worth about $38,000. Ruedi Wealth Management Inc. boosted 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 buying an additional 44 shares during the period. Richardson Financial Services Inc. grew its holdings in Meta Platforms by 95.6% in the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after buying an additional 43 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. bought a new position in Meta Platforms in the 1st quarter worth approximately $44,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $578.55, for a total transaction of $523,587.75. Following the completion of the sale, the insider now directly owns 35,102 shares of the company’s stock, valued at approximately $20,308,262.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Susan J. Li sold 33,018 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total value of $17,101,342.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $578.55, for a total value of $523,587.75. Following the sale, the insider now owns 35,102 shares in the company, valued at approximately $20,308,262.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 283,526 shares of company stock worth $149,140,674 in the last quarter. Insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

META stock traded down $1.26 during midday trading on Monday, reaching $594.68. 4,563,333 shares of the stock were exchanged, compared to its average volume of 15,467,060. The company has a fifty day moving average price of $527.07 and a 200 day moving average price of $502.63. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $602.95. The stock has a market capitalization of $1.51 trillion, a PE ratio of 34.22, a P/E/G ratio of 1.39 and a beta of 1.22. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83.

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 business had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm’s revenue was up 22.1% compared to the same quarter last year. During the same period last year, the company earned $3.23 EPS. As a group, analysts expect that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm 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 0.34%. The ex-dividend date was Monday, September 16th. Meta Platforms’s payout ratio is presently 11.49%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Stifel Nicolaus boosted their price target on Meta Platforms from $550.00 to $590.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Citigroup lifted their target price on Meta Platforms from $580.00 to $645.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Wedbush reaffirmed an “outperform” rating and set a $600.00 target price on shares of Meta Platforms in a report on Thursday, September 26th. Rosenblatt Securities increased their price target on Meta Platforms from $643.00 to $811.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, Susquehanna boosted their price objective on Meta Platforms from $550.00 to $600.00 and gave the stock a “positive” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus target price of $598.08.

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.