Evernest Financial Advisors LLC Has $883,000 Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Evernest Financial Advisors LLC increased its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 13.5% in the third quarter, Holdings Channel reports. The firm owned 1,543 shares of the social networking company’s stock after buying an additional 184 shares during the quarter. Evernest Financial Advisors LLC’s holdings in Meta Platforms were worth $883,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in META. Delos Wealth Advisors LLC increased its position 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 buying an additional 58 shares in the last quarter. POM Investment Strategies LLC bought a new stake in shares of Meta Platforms in the second quarter worth about $38,000. Ruedi Wealth Management Inc. raised 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 purchasing an additional 44 shares during the period. Richardson Financial Services Inc. lifted its holdings in shares of Meta Platforms by 95.6% during the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after purchasing an additional 43 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. acquired a new position in shares of Meta Platforms in the 1st quarter valued at approximately $44,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Activity

In related news, COO Javier Olivan sold 413 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $580.65, for a total transaction of $239,808.45. Following the completion of the sale, the chief operating officer now owns 11,120 shares of the company’s stock, valued at $6,456,828. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total transaction of $17,101,342.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction on Friday, October 18th. The shares were sold at an average price of $580.65, for a total value of $239,808.45. Following the completion of the transaction, the chief operating officer now owns 11,120 shares in the company, valued at approximately $6,456,828. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 249,912 shares of company stock worth $132,027,612. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Trading Down 3.1 %

Shares of Meta Platforms stock opened at $563.69 on Thursday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The firm has a 50-day moving average of $548.79 and a 200-day moving average of $509.61. Meta Platforms, Inc. has a 52-week low of $279.40 and a 52-week high of $602.95. The stock has a market cap of $1.43 trillion, a PE ratio of 32.41, a PEG ratio of 1.45 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $38.26 billion. During the same quarter in the previous year, the firm posted $3.23 EPS. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Meta Platforms, Inc. will post 21.37 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.35%. Meta Platforms’s dividend payout ratio is presently 11.49%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Bank of America lifted their price target on shares of Meta Platforms from $563.00 to $630.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. KeyCorp upped their target price on shares of Meta Platforms from $560.00 to $655.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Oppenheimer lifted their price target on Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Barclays upped their price objective on Meta Platforms from $520.00 to $550.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, Evercore ISI lifted their target price on Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus target price of $619.20.

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.