IVC Wealth Advisors LLC Has $2.89 Million Position in Meta Platforms, Inc. (NASDAQ:META)

IVC Wealth Advisors LLC lowered its stake in Meta Platforms, Inc. (NASDAQ:META) by 1.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 5,945 shares of the social networking company’s stock after selling 65 shares during the quarter. Meta Platforms accounts for 1.7% of IVC Wealth Advisors LLC’s portfolio, making the stock its 9th biggest position. IVC Wealth Advisors LLC’s holdings in Meta Platforms were worth $2,887,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of META. S.A. Mason LLC grew its stake in shares of Meta Platforms by 1.5% in the first quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock worth $645,000 after acquiring an additional 20 shares during the last quarter. LongView Wealth Management boosted its position in shares of Meta Platforms by 1.3% during the first quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock valued at $856,000 after buying an additional 22 shares during the last quarter. Madison Wealth Partners Inc boosted its position in shares of Meta Platforms by 1.6% during the fourth quarter. Madison Wealth Partners Inc now owns 1,417 shares of the social networking company’s stock valued at $502,000 after buying an additional 23 shares during the last quarter. Henrickson Nauta Wealth Advisors Inc. lifted its holdings in Meta Platforms by 1.9% in the first quarter. Henrickson Nauta Wealth Advisors Inc. now owns 1,247 shares of the social networking company’s stock valued at $648,000 after acquiring an additional 23 shares during the period. Finally, Monterey Private Wealth Inc. lifted its holdings in Meta Platforms by 1.8% in the first quarter. Monterey Private Wealth Inc. now owns 1,379 shares of the social networking company’s stock valued at $670,000 after acquiring an additional 24 shares during the period. Institutional investors own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In related news, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $503.08, for a total value of $8,402,442.16. Following the sale, the chief executive officer now owns 204,280 shares of the company’s stock, valued at approximately $102,769,182.40. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $503.08, for a total value of $8,402,442.16. Following the sale, the chief executive officer now owns 204,280 shares of the company’s stock, valued at approximately $102,769,182.40. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $500.57, for a total value of $453,015.85. Following the completion of the sale, the insider now directly owns 37,845 shares in the company, valued at approximately $18,944,071.65. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 251,905 shares of company stock valued at $123,528,726. 13.71% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. JMP Securities reiterated a “market outperform” rating and set a $550.00 target price on shares of Meta Platforms in a research report on Monday, April 22nd. UBS Group dropped their target price on Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Wells Fargo & Company decreased their price target on Meta Platforms from $609.00 to $600.00 and set an “overweight” rating for the company in a research note on Wednesday, April 3rd. KeyCorp raised their price target on Meta Platforms from $475.00 to $540.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $450.00 target price on shares of Meta Platforms in a research report on Wednesday, June 12th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average price target of $511.27.

Meta Platforms Stock Performance

META opened at $509.96 on Friday. The stock has a market cap of $1.29 trillion, a P/E ratio of 29.29, a P/E/G ratio of 1.32 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. The stock’s 50 day simple moving average is $482.42 and its 200 day simple moving average is $458.78. Meta Platforms, Inc. has a 1-year low of $274.38 and a 1-year high of $531.49.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. The business had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 20.16 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date was Friday, June 14th. Meta Platforms’s payout ratio is currently 11.49%.

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.