Invera Wealth Advisors LLC Has $1.87 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Invera Wealth Advisors LLC cut its holdings in Meta Platforms, Inc. (NASDAQ:META) by 9.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,932 shares of the social networking company’s stock after selling 296 shares during the quarter. Meta Platforms comprises 1.8% of Invera Wealth Advisors LLC’s portfolio, making the stock its 20th largest position. Invera Wealth Advisors LLC’s holdings in Meta Platforms were worth $1,866,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Citizens National Bank Trust Department grew its stake in shares of Meta Platforms by 4.4% during the fourth quarter. Citizens National Bank Trust Department now owns 4,310 shares of the social networking company’s stock worth $2,524,000 after purchasing an additional 181 shares during the period. Able Wealth Management LLC bought a new position in Meta Platforms during the fourth quarter worth about $223,000. Boston Financial Mangement LLC grew its position in shares of Meta Platforms by 1.5% during the 4th quarter. Boston Financial Mangement LLC now owns 19,496 shares of the social networking company’s stock worth $11,415,000 after buying an additional 287 shares during the period. Concurrent Investment Advisors LLC raised its position in shares of Meta Platforms by 20.9% in the 4th quarter. Concurrent Investment Advisors LLC now owns 46,970 shares of the social networking company’s stock valued at $27,501,000 after acquiring an additional 8,132 shares during the period. Finally, Maytree Asset Management Ltd boosted its stake in Meta Platforms by 739.1% during the 4th quarter. Maytree Asset Management Ltd now owns 1,930 shares of the social networking company’s stock worth $1,130,000 after acquiring an additional 1,700 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Trading Up 2.5 %

NASDAQ META opened at $673.70 on Thursday. The stock has a market capitalization of $1.71 trillion, a P/E ratio of 28.16, a P/E/G ratio of 1.42 and a beta of 1.20. Meta Platforms, Inc. has a one year low of $414.50 and a one year high of $740.91. The business has a 50 day simple moving average of $650.26 and a 200 day simple moving average of $594.62. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same quarter in the prior year, the firm posted $5.33 EPS. Research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be paid a $0.525 dividend. The ex-dividend date is Friday, March 14th. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a dividend yield of 0.31%. Meta Platforms’s dividend payout ratio (DPR) is currently 8.78%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on META. Bank of America lifted their price target on shares of Meta Platforms from $710.00 to $765.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. KeyCorp lifted their target price on Meta Platforms from $700.00 to $750.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. increased their price target on Meta Platforms from $660.00 to $725.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Cantor Fitzgerald raised their price target on Meta Platforms from $720.00 to $790.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Finally, BMO Capital Markets lifted their price target on shares of Meta Platforms from $530.00 to $610.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus target price of $719.26.

Insider Activity at Meta Platforms

In other news, CEO Mark Zuckerberg sold 35,921 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $607.97, for a total transaction of $21,838,890.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Javier Olivan sold 4,706 shares of the stock in a transaction on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total value of $3,466,769.02. Following the completion of the transaction, the chief operating officer now owns 20,935 shares in the company, valued at approximately $15,422,186.45. This represents a 18.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 813,030 shares of company stock valued at $525,952,077 in the last three months. Corporate insiders own 13.71% of the company’s stock.

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.