Evolution Wealth Advisors LLC Has $1.48 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Evolution Wealth Advisors LLC grew its holdings in Meta Platforms, Inc. (NASDAQ:META) by 5.1% during the fourth quarter, Holdings Channel reports. The firm owned 4,168 shares of the social networking company’s stock after acquiring an additional 204 shares during the quarter. Evolution Wealth Advisors LLC’s holdings in Meta Platforms were worth $1,475,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Meta Platforms by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 183,244,796 shares of the social networking company’s stock worth $55,011,920,000 after purchasing an additional 1,733,182 shares in the last quarter. FMR LLC lifted its position in shares of Meta Platforms by 4.0% during the third quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock worth $39,270,443,000 after acquiring an additional 5,001,647 shares in the last quarter. Morgan Stanley lifted its position in shares of Meta Platforms by 3.4% during the third quarter. Morgan Stanley now owns 36,277,772 shares of the social networking company’s stock worth $10,890,950,000 after acquiring an additional 1,184,978 shares in the last quarter. Norges Bank purchased a new stake in shares of Meta Platforms during the fourth quarter worth $4,223,148,000. Finally, Northern Trust Corp lifted its position in shares of Meta Platforms by 4.3% during the third quarter. Northern Trust Corp now owns 23,003,927 shares of the social networking company’s stock worth $6,906,009,000 after acquiring an additional 946,871 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Price Performance

Shares of META opened at $481.07 on Friday. The firm has a market cap of $1.23 trillion, a PE ratio of 32.29, a P/E/G ratio of 1.27 and a beta of 1.20. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.12. The firm has a fifty day simple moving average of $494.55 and a two-hundred day simple moving average of $398.64. Meta Platforms, Inc. has a 1-year low of $207.13 and a 1-year high of $531.49.

Meta Platforms (NASDAQ:META) last announced its earnings results on Thursday, February 1st. The social networking company reported $5.33 earnings per share for the quarter, beating analysts’ consensus estimates of $4.82 by $0.51. The business had revenue of $40.11 billion during the quarter, compared to analyst estimates of $39.12 billion. Meta Platforms had a net margin of 28.98% and a return on equity of 29.48%. The company’s quarterly revenue was up 24.7% compared to the same quarter last year. During the same period in the previous year, the business earned $3.00 EPS. On average, equities analysts anticipate that Meta Platforms, Inc. will post 20.18 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd were paid a $0.50 dividend. The ex-dividend date was Wednesday, February 21st. This represents a $2.00 annualized dividend and a dividend yield of 0.42%. Meta Platforms’s dividend payout ratio (DPR) is 13.42%.

Insiders Place Their Bets

In other Meta Platforms news, CTO Andrew Bosworth sold 8,036 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $473.28, for a total value of $3,803,278.08. Following the completion of the sale, the chief technology officer now owns 18,432 shares in the company, valued at approximately $8,723,496.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Jennifer Newstead sold 585 shares of the stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $498.59, for a total value of $291,675.15. Following the completion of the transaction, the insider now owns 37,813 shares of the company’s stock, valued at approximately $18,853,183.67. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Andrew Bosworth sold 8,036 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $473.28, for a total transaction of $3,803,278.08. Following the completion of the transaction, the chief technology officer now directly owns 18,432 shares of the company’s stock, valued at approximately $8,723,496.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,421,182 shares of company stock worth $677,574,550. Corporate insiders own 13.75% of the company’s stock.

Analyst Ratings Changes

META has been the topic of a number of recent analyst reports. Truist Financial increased their price objective on Meta Platforms from $525.00 to $550.00 and gave the stock a “buy” rating in a research report on Wednesday. Citigroup raised their price objective on Meta Platforms from $525.00 to $590.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Piper Sandler raised their price objective on Meta Platforms from $525.00 to $600.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Guggenheim raised their target price on Meta Platforms from $380.00 to $520.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Finally, Robert W. Baird raised their target price on Meta Platforms from $385.00 to $525.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $519.53.

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.