Evolution Wealth Advisors LLC Acquires 399 Shares of Meta Platforms, Inc. (NASDAQ:META)

Evolution Wealth Advisors LLC grew its holdings in Meta Platforms, Inc. (NASDAQ:META) by 9.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,580 shares of the social networking company’s stock after purchasing an additional 399 shares during the period. Evolution Wealth Advisors LLC’s holdings in Meta Platforms were worth $2,314,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Tennessee Valley Asset Management Partners increased its position in Meta Platforms by 0.6% during the 4th quarter. Tennessee Valley Asset Management Partners now owns 4,566 shares of the social networking company’s stock worth $1,616,000 after purchasing an additional 27 shares in the last quarter. Oakworth Capital Inc. grew its stake in shares of Meta Platforms by 27.2% during the fourth quarter. Oakworth Capital Inc. now owns 467 shares of the social networking company’s stock worth $165,000 after buying an additional 100 shares during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund increased its holdings in shares of Meta Platforms by 33.8% during the fourth quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 223,612 shares of the social networking company’s stock worth $79,150,000 after buying an additional 56,515 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Meta Platforms by 7.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company’s stock valued at $159,841,000 after acquiring an additional 32,423 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Meta Platforms by 17.3% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 77,397 shares of the social networking company’s stock valued at $27,395,000 after acquiring an additional 11,443 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $514.89, for a total transaction of $8,599,692.78. Following the completion of the transaction, the chief executive officer now owns 89,927 shares in the company, valued at approximately $46,302,513.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $514.89, for a total transaction of $8,599,692.78. Following the transaction, the chief executive officer now directly owns 89,927 shares in the company, valued at approximately $46,302,513.03. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $467.57, for a total transaction of $423,150.85. Following the transaction, the insider now directly owns 43,275 shares in the company, valued at $20,234,091.75. The disclosure for this sale can be found here. Insiders sold a total of 349,174 shares of company stock valued at $175,146,777 over the last three months. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Stock Down 1.8 %

Shares of NASDAQ:META opened at $527.42 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.83. Meta Platforms, Inc. has a 52-week low of $274.38 and a 52-week high of $542.81. The business’s 50 day simple moving average is $500.48 and its two-hundred day simple moving average is $487.81. The firm has a market cap of $1.34 trillion, a P/E ratio of 30.29, a PEG ratio of 1.27 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. During the same period in the prior year, the firm earned $3.23 earnings per share. Meta Platforms’s revenue for the quarter was up 22.1% on a year-over-year basis. As a group, research analysts forecast that Meta Platforms, Inc. will post 20.5 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date was Friday, June 14th. Meta Platforms’s dividend payout ratio is currently 11.49%.

Wall Street Analysts Forecast Growth

META has been the subject of a number of recent research reports. Evercore ISI upped their target price on Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Royal Bank of Canada reiterated an “outperform” rating and issued a $570.00 price objective on shares of Meta Platforms in a report on Thursday, August 1st. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a report on Thursday, August 1st. JPMorgan Chase & Co. upped their price target on shares of Meta Platforms from $480.00 to $610.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, Barclays lifted their price target on shares of Meta Platforms from $520.00 to $550.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-three have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $574.41.

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.