Invera Wealth Advisors LLC Reduces Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Invera Wealth Advisors LLC lowered its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 7.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,456 shares of the social networking company’s stock after selling 293 shares during the quarter. Meta Platforms makes up about 1.8% of Invera Wealth Advisors LLC’s holdings, making the stock its 19th biggest position. Invera Wealth Advisors LLC’s holdings in Meta Platforms were worth $1,772,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Vantage Financial Partners LLC grew its stake in Meta Platforms by 3.2% during the 4th quarter. Vantage Financial Partners LLC now owns 1,323 shares of the social networking company’s stock worth $468,000 after buying an additional 41 shares during the last quarter. Concentrum Wealth Management boosted its holdings in shares of Meta Platforms by 111.0% in the fourth quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock valued at $2,616,000 after acquiring an additional 3,888,308 shares during the period. Aveo Capital Partners LLC grew its position in shares of Meta Platforms by 45.7% during the fourth quarter. Aveo Capital Partners LLC now owns 2,302 shares of the social networking company’s stock worth $815,000 after acquiring an additional 722 shares during the last quarter. 9258 Wealth Management LLC increased its holdings in shares of Meta Platforms by 66.4% in the 4th quarter. 9258 Wealth Management LLC now owns 3,993 shares of the social networking company’s stock valued at $1,413,000 after acquiring an additional 1,594 shares during the period. Finally, Rollins Financial raised its position in Meta Platforms by 7.5% in the 4th quarter. Rollins Financial now owns 30,657 shares of the social networking company’s stock valued at $10,851,000 after purchasing an additional 2,133 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analyst Ratings Changes

META has been the topic of a number of recent research reports. Guggenheim lifted their price objective on shares of Meta Platforms from $500.00 to $600.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Stifel Nicolaus boosted their price target on Meta Platforms from $550.00 to $590.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Bank of America increased their price objective on Meta Platforms from $550.00 to $563.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Cantor Fitzgerald assumed coverage on Meta Platforms in a report on Thursday, September 5th. They issued an “overweight” rating and a $660.00 target price on the stock. Finally, TD Securities increased their price target on Meta Platforms from $530.00 to $600.00 in a report on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, two have given a hold rating, thirty-four have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and an average price target of $577.26.

Meta Platforms Stock Performance

Shares of META opened at $525.60 on Friday. Meta Platforms, Inc. has a 1 year low of $279.40 and a 1 year high of $544.23. The company’s 50 day simple moving average is $505.44 and its 200 day simple moving average is $495.07. The company has a market capitalization of $1.33 trillion, a price-to-earnings ratio of 30.19, a PEG ratio of 1.23 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83.

Meta Platforms (NASDAQ:META) last issued its quarterly 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 quarter in the prior year, the company posted $3.23 EPS. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. On average, sell-side analysts predict that Meta Platforms, Inc. will post 21.36 EPS for the current year.

Meta Platforms Dividend Announcement

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

Insider Buying and Selling at Meta Platforms

In other news, CFO Susan J. Li sold 8,950 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the transaction, the chief financial officer now directly owns 74,579 shares in the company, valued at approximately $39,285,234.04. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Jennifer Newstead sold 901 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $451.15, for a total transaction of $406,486.15. Following the completion of the sale, the insider now directly owns 33,324 shares in the company, valued at approximately $15,034,122.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Susan J. Li sold 8,950 shares of Meta Platforms stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $4,714,502.00. Following the completion of the transaction, the chief financial officer now owns 74,579 shares in the company, valued at approximately $39,285,234.04. The disclosure for this sale can be found here. Insiders sold 357,574 shares of company stock worth $185,587,773 in the last 90 days. 13.71% of the stock is owned by company 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.