Evermay Wealth Management LLC Increases Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Evermay Wealth Management LLC grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 29.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,186 shares of the social networking company’s stock after purchasing an additional 1,190 shares during the period. Evermay Wealth Management LLC’s holdings in Meta Platforms were worth $1,836,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Stone House Investment Management LLC increased its holdings in Meta Platforms by 625.0% in the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after buying an additional 75 shares in the last quarter. Quest Partners LLC acquired a new position in Meta Platforms during the fourth quarter worth $32,000. Gilfoyle & Co LLC acquired a new position in Meta Platforms during the fourth quarter worth $39,000. Cranbrook Wealth Management LLC boosted its position in Meta Platforms by 80.4% during the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after purchasing an additional 45 shares in the last quarter. Finally, Beaird Harris Wealth Management LLC grew its holdings in Meta Platforms by 68.9% in the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after purchasing an additional 42 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Stock Up 2.7 %

Shares of META stock traded up $12.44 on Friday, hitting $478.22. The stock had a trading volume of 12,024,254 shares, compared to its average volume of 14,801,451. The stock’s 50 day moving average is $484.07 and its 200-day moving average is $426.77. The firm has a market capitalization of $1.21 trillion, a price-to-earnings ratio of 27.47, a P/E/G ratio of 1.24 and a beta of 1.21. Meta Platforms, Inc. has a 52-week low of $249.17 and a 52-week high of $531.49. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The company had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. As a group, research analysts expect that Meta Platforms, Inc. will post 20.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

META has been the topic of several recent research reports. Wells Fargo & Company decreased their price objective on shares of Meta Platforms from $609.00 to $600.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. cut their price objective on Meta Platforms from $535.00 to $480.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. Bank of America increased their target price on Meta Platforms from $425.00 to $510.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Sanford C. Bernstein cut their price target on Meta Platforms from $590.00 to $565.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Finally, Mizuho increased their price objective on Meta Platforms from $470.00 to $575.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and an average target price of $509.80.

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 77,412 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $483.34, for a total value of $37,416,316.08. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total value of $305,370.00. Following the completion of the sale, the insider now directly owns 38,398 shares of the company’s stock, valued at $20,043,756. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 77,412 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $483.34, for a total value of $37,416,316.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 886,466 shares of company stock valued at $438,582,433. Insiders own 13.71% of the company’s stock.

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.