EverSource Wealth Advisors LLC Has $8.96 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

EverSource Wealth Advisors LLC reduced its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 15,652 shares of the social networking company’s stock after selling 38 shares during the period. EverSource Wealth Advisors LLC’s holdings in Meta Platforms were worth $8,960,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Lindenwold Advisors INC boosted its stake in Meta Platforms by 0.3% in the 3rd quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock worth $3,388,000 after purchasing an additional 17 shares during the period. Central Valley Advisors LLC lifted its holdings in shares of Meta Platforms by 0.3% in the third quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock valued at $3,271,000 after purchasing an additional 18 shares in the last quarter. Cherrydale Wealth Management LLC boosted its position in shares of Meta Platforms by 0.5% during the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after buying an additional 18 shares during the period. Alliance Wealth Advisors LLC grew its holdings in shares of Meta Platforms by 0.7% during the third quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock worth $1,595,000 after buying an additional 18 shares in the last quarter. Finally, Kozak & Associates Inc. raised its position in Meta Platforms by 1.0% in the 3rd quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock valued at $1,099,000 after buying an additional 18 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on META shares. Piper Sandler raised their price target on shares of Meta Platforms from $575.00 to $650.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Bank of America raised their target price on shares of Meta Platforms from $630.00 to $660.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Scotiabank cut their price target on shares of Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 31st. Stifel Nicolaus increased their price objective on shares of Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, Jefferies Financial Group lifted their target price on Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $634.10.

Meta Platforms Trading Down 0.7 %

Shares of Meta Platforms stock opened at $559.14 on Friday. The firm’s 50 day moving average is $572.74 and its 200 day moving average is $523.96. The firm has a market capitalization of $1.41 trillion, a PE ratio of 26.34, a price-to-earnings-growth ratio of 1.24 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. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last posted 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. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The firm had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Equities research analysts forecast that Meta Platforms, Inc. will post 22.53 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently declared 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. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date was Monday, September 16th. Meta Platforms’s payout ratio is 9.42%.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 84 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $600.00, for a total value of $50,400.00. Following the sale, the chief executive officer now owns 518,424 shares in the company, valued at approximately $311,054,400. The trade was a 0.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Susan J. Li sold 33,018 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 168,843 shares of company stock worth $92,083,554. Insiders own 13.71% of the company’s stock.

About Meta Platforms

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.