Meta Platforms, Inc. (NASDAQ:META) is Evergreen Wealth Management LLC's 10th Largest Position

Evergreen Wealth Management LLC cut its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 14.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,048 shares of the social networking company's stock after selling 1,552 shares during the quarter. Meta Platforms accounts for approximately 3.1% of Evergreen Wealth Management LLC's holdings, making the stock its 10th biggest holding. Evergreen Wealth Management LLC's holdings in Meta Platforms were worth $5,215,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Meta Platforms by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company's stock worth $111,948,344,000 after buying an additional 1,502,553 shares during the period. Geode Capital Management LLC increased its stake in shares of Meta Platforms by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company's stock worth $28,719,970,000 after buying an additional 1,020,519 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Meta Platforms by 2.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company's stock worth $24,777,282,000 after buying an additional 1,049,121 shares during the period. Capital World Investors increased its stake in shares of Meta Platforms by 2.9% in the fourth quarter. Capital World Investors now owns 40,317,105 shares of the social networking company's stock worth $23,606,338,000 after buying an additional 1,141,355 shares during the period. Finally, Norges Bank purchased a new position in shares of Meta Platforms in the fourth quarter worth $19,949,512,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on META. Truist Financial lifted their target price on shares of Meta Platforms from $700.00 to $720.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. TD Cowen lifted their target price on shares of Meta Platforms from $700.00 to $800.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Sanford C. Bernstein lifted their target price on shares of Meta Platforms from $700.00 to $775.00 and gave the stock an "outperform" rating in a research note on Tuesday. Needham & Company LLC raised shares of Meta Platforms from an "underperform" rating to a "hold" rating in a research note on Thursday, July 3rd. Finally, Evercore ISI lifted their target price on shares of Meta Platforms from $725.00 to $750.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Five research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $752.33.

Insider Buying and Selling at Meta Platforms

In related news, CEO Mark Zuckerberg sold 2,361 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $716.48, for a total value of $1,691,609.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jennifer Newstead sold 519 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $716.10, for a total transaction of $371,655.90. Following the completion of the sale, the insider directly owned 26,069 shares of the company's stock, valued at $18,668,010.90. This represents a 1.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 153,473 shares of company stock worth $105,805,440 over the last 90 days. 13.61% of the stock is owned by company insiders.

Meta Platforms Stock Performance

Shares of NASDAQ META traded down $2.12 during midday trading on Friday, hitting $712.68. 8,253,539 shares of the company's stock traded hands, compared to its average volume of 10,556,341. Meta Platforms, Inc. has a 1 year low of $450.80 and a 1 year high of $747.90. The stock has a market capitalization of $1.79 trillion, a price-to-earnings ratio of 27.80, a price-to-earnings-growth ratio of 1.71 and a beta of 1.28. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. The firm has a fifty day moving average of $692.48 and a 200 day moving average of $641.78.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating the consensus estimate of $5.33 by $1.10. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The firm had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. During the same quarter in the prior year, the firm earned $4.71 EPS. The business's revenue for the quarter was up 16.1% compared to the same quarter last year. On average, analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.29%. The ex-dividend date was Monday, June 16th. Meta Platforms's payout ratio is currently 8.19%.

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.