Evergreen Wealth Management LLC Sells 1,412 Shares of Meta Platforms, Inc. (NASDAQ:META)

Evergreen Wealth Management LLC reduced its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 10.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,204 shares of the social networking company’s stock after selling 1,412 shares during the period. Meta Platforms accounts for approximately 3.2% of Evergreen Wealth Management LLC’s investment portfolio, making the stock its 9th biggest holding. Evergreen Wealth Management LLC’s holdings in Meta Platforms were worth $4,320,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Meta Platforms by 1.0% in the third quarter. Vanguard Group Inc. now owns 183,244,796 shares of the social networking company’s stock valued at $55,011,920,000 after purchasing an additional 1,733,182 shares in the last quarter. FMR LLC increased its position in Meta Platforms by 4.0% in the 3rd quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock valued at $39,270,443,000 after buying an additional 5,001,647 shares in the last quarter. Morgan Stanley raised its stake in Meta Platforms by 3.4% during the 3rd quarter. Morgan Stanley now owns 36,277,772 shares of the social networking company’s stock worth $10,890,950,000 after buying an additional 1,184,978 shares during the period. Northern Trust Corp boosted its holdings in Meta Platforms by 4.3% in 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. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Meta Platforms by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 13,143,462 shares of the social networking company’s stock worth $3,945,799,000 after acquiring an additional 111,735 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Trading Up 2.3 %

NASDAQ:META traded up $10.28 during mid-day trading on Friday, reaching $451.96. 16,489,057 shares of the company’s stock traded hands, compared to its average volume of 20,698,000. The company has a 50 day moving average price of $490.72 and a 200-day moving average price of $408.34. The firm has a market capitalization of $1.15 trillion, a price-to-earnings ratio of 25.96, a PEG ratio of 1.15 and a beta of 1.21. 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 12-month low of $229.85 and a 12-month high of $531.49.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.32 by $0.39. The business had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. On average, sell-side analysts predict that Meta Platforms, Inc. will post 20.1 earnings per share for the current year.

Insider Activity at Meta Platforms

In related news, CFO Susan J. Li sold 10,956 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 value of $5,185,255.68. Following the completion of the transaction, the chief financial officer now directly owns 76,398 shares in the company, valued at approximately $36,157,645.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, COO Javier Olivan sold 490 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $488.03, for a total transaction of $239,134.70. Following the completion of the transaction, the chief operating officer now directly owns 79,944 shares in the company, valued at $39,015,070.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Susan J. Li sold 10,956 shares of Meta Platforms stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $473.28, for a total value of $5,185,255.68. Following the completion of the transaction, the chief financial officer now directly owns 76,398 shares of the company’s stock, valued at approximately $36,157,645.44. The disclosure for this sale can be found here. Insiders have sold 1,257,876 shares of company stock worth $613,168,252 over the last ninety days. 13.71% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

META has been the topic of several recent research reports. Wedbush dropped their price target on shares of Meta Platforms from $570.00 to $480.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft dropped their target price on Meta Platforms from $540.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. TD Cowen decreased their price target on Meta Platforms from $590.00 to $530.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Guggenheim dropped their price objective on Meta Platforms from $520.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Finally, Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $509.80.

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.