Evermay Wealth Management LLC Sells 70 Shares of Meta Platforms, Inc. (NASDAQ:META)

Evermay Wealth Management LLC cut its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,006 shares of the social networking company’s stock after selling 70 shares during the period. Evermay Wealth Management LLC’s holdings in Meta Platforms were worth $2,866,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. International Assets Investment Management LLC increased its position in shares of Meta Platforms by 57,001.5% during the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock valued at $5,447,975,000 after purchasing an additional 9,500,444 shares during the last quarter. Capital Research Global Investors increased its position in shares of Meta Platforms by 14.5% during the 1st quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock valued at $16,799,612,000 after purchasing an additional 4,379,826 shares during the last quarter. Jennison Associates LLC increased its position in shares of Meta Platforms by 24.7% during the 1st quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock valued at $6,733,731,000 after purchasing an additional 2,748,620 shares during the last quarter. Sustainable Growth Advisers LP purchased a new stake in shares of Meta Platforms during the 2nd quarter valued at $595,152,000. Finally, Vanguard Group Inc. increased its position in shares of Meta Platforms by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock valued at $90,891,055,000 after purchasing an additional 831,047 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on META shares. Tigress Financial raised their target price on Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research report on Friday, August 16th. The Goldman Sachs Group lifted their price objective on Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Monness Crespi & Hardt lifted their price objective on Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a report on Thursday. Oppenheimer lifted their price objective on Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Finally, Evercore ISI lifted their price objective on Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and an average target price of $634.10.

Insider Activity

In other news, CEO Mark Zuckerberg sold 492 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $600.75, for a total transaction of $295,569.00. Following the transaction, the chief executive officer now directly owns 518,508 shares of the company’s stock, valued at approximately $311,493,681. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CTO Andrew Bosworth sold 5,057 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $2,663,825.32. Following the sale, the chief technology officer now directly owns 11,990 shares of the company’s stock, valued at $6,315,852.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark Zuckerberg sold 492 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $600.75, for a total value of $295,569.00. Following the completion of the sale, the chief executive officer now directly owns 518,508 shares in the company, valued at approximately $311,493,681. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 251,993 shares of company stock valued at $133,271,982. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

NASDAQ:META opened at $567.16 on Friday. The business has a 50 day moving average of $555.99 and a 200 day moving average of $513.12. The company has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 26.72, a PEG ratio of 1.44 and a beta of 1.22. Meta Platforms, Inc. has a 1-year low of $308.33 and a 1-year high of $602.95. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The company had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a return on equity of 36.26% and a net margin of 35.55%. On average, sell-side analysts predict that Meta Platforms, Inc. will post 21.47 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

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.