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

Invera Wealth Advisors LLC trimmed its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 7.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,456 shares of the social networking company’s stock after selling 293 shares during the quarter. Meta Platforms makes up approximately 1.8% of Invera Wealth Advisors LLC’s investment portfolio, making the stock its 19th largest position. Invera Wealth Advisors LLC’s holdings in Meta Platforms were worth $1,772,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in META. Moser Wealth Advisors LLC raised its position in shares of Meta Platforms by 8.5% during the 2nd quarter. Moser Wealth Advisors LLC now owns 1,300 shares of the social networking company’s stock worth $655,000 after purchasing an additional 102 shares during the last quarter. HCR Wealth Advisors raised its holdings in shares of Meta Platforms by 0.6% during the second quarter. HCR Wealth Advisors now owns 18,132 shares of the social networking company’s stock valued at $9,143,000 after acquiring an additional 111 shares during the last quarter. NRI Wealth Management LC purchased a new position in shares of Meta Platforms in the second quarter valued at approximately $501,000. Private Management Group Inc. boosted its stake in shares of Meta Platforms by 15.9% in the second quarter. Private Management Group Inc. now owns 1,101 shares of the social networking company’s stock worth $555,000 after acquiring an additional 151 shares during the last quarter. Finally, First Foundation Advisors increased its position in shares of Meta Platforms by 10.7% during the second quarter. First Foundation Advisors now owns 22,171 shares of the social networking company’s stock worth $11,179,000 after purchasing an additional 2,151 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on META. Sanford C. Bernstein raised their price objective on Meta Platforms from $565.00 to $575.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Raymond James raised their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the stock a “strong-buy” rating in a research note on Monday, July 1st. Benchmark reaffirmed a “hold” rating on shares of Meta Platforms in a research note on Thursday, July 25th. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a report on Wednesday, September 4th. Finally, DA Davidson began coverage on Meta Platforms in a report on Tuesday. They set a “buy” rating and a $600.00 target price on the stock. Two analysts have rated the stock with a sell rating, two have given a hold rating, thirty-four have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average price target of $577.26.

Meta Platforms Stock Up 2.7 %

Shares of NASDAQ:META opened at $525.60 on Friday. The firm has a market capitalization of $1.33 trillion, a PE ratio of 30.19, a price-to-earnings-growth ratio of 1.23 and a beta of 1.21. Meta Platforms, Inc. has a 1 year low of $279.40 and a 1 year high of $544.23. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. The firm’s 50-day moving average is $505.44 and its two-hundred day moving average is $495.07.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. During the same period in the prior year, the firm earned $3.23 EPS. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. Analysts predict that Meta Platforms, Inc. will post 21.36 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Monday, September 16th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.38%. The ex-dividend date is Monday, September 16th. Meta Platforms’s payout ratio is currently 11.49%.

Insider Buying and Selling

In other Meta Platforms news, COO Javier Olivan sold 413 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $536.92, for a total value of $221,747.96. Following the sale, the chief operating officer now owns 14,424 shares of the company’s stock, valued at approximately $7,744,534.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $451.15, for a total value of $406,486.15. Following the sale, the insider now directly owns 33,324 shares of the company’s stock, valued at approximately $15,034,122.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $536.92, for a total transaction of $221,747.96. Following the sale, the chief operating officer now directly owns 14,424 shares of the company’s stock, valued at $7,744,534.08. The disclosure for this sale can be found here. Insiders sold 357,574 shares of company stock valued at $185,587,773 in the last three months. 13.71% of the stock is owned by corporate insiders.

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.