Invera Wealth Advisors LLC Grows Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Invera Wealth Advisors LLC raised its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 4.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,749 shares of the social networking company’s stock after buying an additional 144 shares during the period. Meta Platforms comprises about 1.6% of Invera Wealth Advisors LLC’s holdings, making the stock its 23rd largest holding. Invera Wealth Advisors LLC’s holdings in Meta Platforms were worth $1,881,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Daiwa Securities Group Inc. boosted its position in shares of Meta Platforms by 7.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company’s stock worth $159,841,000 after buying an additional 32,423 shares during the period. Bank of Stockton boosted its holdings in Meta Platforms by 9.2% in the fourth quarter. Bank of Stockton now owns 4,743 shares of the social networking company’s stock valued at $1,819,000 after purchasing an additional 400 shares during the period. Signify Wealth purchased a new position in Meta Platforms in the fourth quarter valued at $228,000. Illinois Municipal Retirement Fund boosted its holdings in Meta Platforms by 1.8% in the fourth quarter. Illinois Municipal Retirement Fund now owns 223,788 shares of the social networking company’s stock valued at $79,212,000 after purchasing an additional 4,025 shares during the period. Finally, Investment Research & Advisory Group Inc. boosted its holdings in Meta Platforms by 1.5% in the fourth quarter. Investment Research & Advisory Group Inc. now owns 10,962 shares of the social networking company’s stock valued at $3,880,000 after purchasing an additional 164 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Price Performance

NASDAQ:META traded down $10.67 during trading hours on Monday, reaching $432.62. 21,472,414 shares of the company traded hands, compared to its average volume of 18,429,988. The firm’s 50-day moving average is $493.66 and its 200-day moving average is $406.15. The stock has a market cap of $1.10 trillion, a P/E ratio of 24.85, a P/E/G ratio of 1.15 and a beta of 1.20. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. Meta Platforms, Inc. has a 1-year low of $229.85 and a 1-year high of $531.49.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. The firm had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. Equities research analysts expect that Meta Platforms, Inc. will post 20.2 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, February 22nd were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend was Wednesday, February 21st. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on META shares. BMO Capital Markets lifted their target price on Meta Platforms from $397.00 to $450.00 and gave the company a “market perform” rating in a report on Friday, February 2nd. JMP Securities reiterated a “market outperform” rating and issued a $550.00 target price on shares of Meta Platforms in a report on Monday, April 22nd. Stifel Nicolaus raised their price target on Meta Platforms from $527.00 to $588.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Susquehanna raised their price target on Meta Platforms from $400.00 to $550.00 and gave the company a “positive” rating in a research note on Friday, February 2nd. Finally, Truist Financial cut their price target on Meta Platforms from $550.00 to $535.00 and set a “buy” rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus target price of $509.18.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 19,681 shares of the stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $393.85, for a total transaction of $7,751,361.85. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total transaction of $305,370.00. Following the transaction, the insider now owns 38,398 shares of the company’s stock, valued at approximately $20,043,756. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 19,681 shares of the stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $393.85, for a total value of $7,751,361.85. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,277,048 shares of company stock worth $620,679,759. 13.71% of the stock is owned by insiders.

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.