Prevail Innovative Wealth Advisors LLC Sells 1,804 Shares of Meta Platforms, Inc. $META

Prevail Innovative Wealth Advisors LLC lowered its holdings in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 29.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,415 shares of the social networking company’s stock after selling 1,804 shares during the quarter. Prevail Innovative Wealth Advisors LLC’s holdings in Meta Platforms were worth $3,242,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in META. Westchester Capital Management Inc. bought a new stake in shares of Meta Platforms in the 3rd quarter valued at approximately $26,000. Bare Financial Services Inc bought a new position in shares of Meta Platforms during the 2nd quarter worth approximately $30,000. Knuff & Co LLC acquired a new stake in Meta Platforms in the 2nd quarter valued at $44,000. Spurstone Advisory Services LLC acquired a new stake in Meta Platforms in the 2nd quarter valued at $59,000. Finally, Evergreen Private Wealth LLC grew its position in Meta Platforms by 64.8% in the third quarter. Evergreen Private Wealth LLC now owns 89 shares of the social networking company’s stock valued at $65,000 after acquiring an additional 35 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms News Summary

Here are the key news stories impacting Meta Platforms this week:

Meta Platforms Stock Performance

Meta Platforms stock opened at $638.18 on Friday. The stock has a 50-day simple moving average of $653.98 and a 200 day simple moving average of $678.88. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 0.27. Meta Platforms, Inc. has a 12-month low of $479.80 and a 12-month high of $796.25. The stock has a market capitalization of $1.61 trillion, a price-to-earnings ratio of 27.16, a P/E/G ratio of 1.02 and a beta of 1.30.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its quarterly earnings data on Wednesday, January 28th. The social networking company reported $8.88 EPS for the quarter, topping analysts’ consensus estimates of $8.16 by $0.72. The firm had revenue of $59.89 billion for the quarter, compared to analyst estimates of $58.33 billion. Meta Platforms had a net margin of 30.08% and a return on equity of 38.61%. The company’s revenue was up 23.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $8.02 EPS. On average, research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Monday, March 16th will be paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, March 16th. Meta Platforms’s dividend payout ratio is 8.94%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on META. Evercore increased their price objective on Meta Platforms from $875.00 to $900.00 and gave the stock an “outperform” rating in a research note on Thursday, January 29th. Raymond James Financial lowered their target price on shares of Meta Platforms from $825.00 to $800.00 and set a “strong-buy” rating on the stock in a report on Monday, January 26th. Piper Sandler increased their target price on shares of Meta Platforms from $840.00 to $880.00 and gave the stock an “overweight” rating in a research report on Thursday, January 29th. Jefferies Financial Group lifted their price target on shares of Meta Platforms from $910.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday, January 29th. Finally, KeyCorp reduced their price target on shares of Meta Platforms from $875.00 to $835.00 and set an “overweight” rating on the stock in a research report on Monday, January 26th. Three analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and an average target price of $844.44.

Get Our Latest Stock Report on META

Insider Activity

In other Meta Platforms news, CFO Susan J. Li sold 56,571 shares of the stock in a transaction on Friday, February 27th. The stock was sold at an average price of $644.70, for a total value of $36,471,323.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Javier Olivan sold 926 shares of Meta Platforms stock in a transaction on Monday, March 9th. The shares were sold at an average price of $634.94, for a total value of $587,954.44. Following the completion of the sale, the chief operating officer directly owned 15,187 shares of the company’s stock, valued at $9,642,833.78. This trade represents a 5.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 161,446 shares of company stock valued at $103,451,688 over the last three months. 13.61% of the stock is owned by insiders.

Meta Platforms Profile

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

Further Reading

Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:METAFree Report).

Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

Receive News & Ratings for Meta Platforms Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meta Platforms and related companies with MarketBeat.com's FREE daily email newsletter.