Everhart Financial Group Inc. Buys 1,507 Shares of Meta Platforms, Inc. (NASDAQ:META)

Everhart Financial Group Inc. increased its stake in Meta Platforms, Inc. (NASDAQ:META) by 13.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,876 shares of the social networking company’s stock after acquiring an additional 1,507 shares during the quarter. Meta Platforms makes up 1.6% of Everhart Financial Group Inc.’s holdings, making the stock its 10th largest holding. Everhart Financial Group Inc.’s holdings in Meta Platforms were worth $7,371,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Meta Platforms by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock worth $90,891,055,000 after acquiring an additional 831,047 shares during the last quarter. Capital World Investors grew its holdings in shares of Meta Platforms by 0.6% in the 1st quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock worth $18,597,382,000 after acquiring an additional 244,803 shares during the last quarter. Capital Research Global Investors grew its holdings in shares of Meta Platforms by 14.5% in the 1st quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock worth $16,799,612,000 after acquiring an additional 4,379,826 shares during the last quarter. GQG Partners LLC grew its holdings in shares of Meta Platforms by 3.1% in the 1st quarter. GQG Partners LLC now owns 11,497,335 shares of the social networking company’s stock worth $5,582,876,000 after acquiring an additional 342,742 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its position in shares of Meta Platforms by 57,001.5% in the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after buying an additional 9,500,444 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on META shares. Jefferies Financial Group raised their target price on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Tigress Financial raised their target price on Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 16th. Scotiabank decreased their target price on Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating for the company in a research report on Thursday, October 31st. Bank of America raised their target price on Meta Platforms from $630.00 to $660.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Pivotal Research lifted their price objective on Meta Platforms from $780.00 to $800.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $634.10.

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $528.38, for a total transaction of $478,183.90. Following the transaction, the insider now owns 40,532 shares of the company’s stock, valued at approximately $21,416,298.16. This represents a 2.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $526.94, for a total value of $8,800,951.88. Following the transaction, the chief executive officer now directly owns 46,292 shares in the company, valued at approximately $24,393,106.48. This represents a 26.51 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 158,200 shares of company stock valued at $84,533,106. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Stock Down 0.5 %

NASDAQ META opened at $577.16 on Friday. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The stock’s 50 day moving average is $565.83 and its two-hundred day moving average is $518.72. The company has a market capitalization of $1.46 trillion, a price-to-earnings ratio of 27.19, a PEG ratio of 1.29 and a beta of 1.22. Meta Platforms, Inc. has a 1-year low of $313.66 and a 1-year high of $602.95.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping the consensus estimate of $5.19 by $0.84. The business had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. Equities analysts forecast that Meta Platforms, Inc. will post 22.53 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 issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s payout ratio is currently 9.42%.

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.