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

Prevail Innovative Wealth Advisors LLC trimmed its holdings in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 29.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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.

Other institutional investors also recently bought and sold shares of the company. Westchester Capital Management Inc. acquired a new position in shares of Meta Platforms during the 3rd quarter valued at about $26,000. Bare Financial Services Inc bought a new position in shares of Meta Platforms in the 2nd quarter valued at approximately $30,000. Knuff & Co LLC acquired a new stake in Meta Platforms in the 2nd quarter worth approximately $44,000. Spurstone Advisory Services LLC acquired a new stake in Meta Platforms in the 2nd quarter worth approximately $59,000. Finally, Evergreen Private Wealth LLC boosted its position in Meta Platforms by 64.8% during the third quarter. Evergreen Private Wealth LLC now owns 89 shares of the social networking company’s stock worth $65,000 after purchasing an additional 35 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Meta Platforms news, CTO Andrew Bosworth sold 8,089 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $631.24, for a total value of $5,106,100.36. Following the completion of the sale, the chief technology officer owned 2,841 shares in the company, valued at approximately $1,793,352.84. This trade represents a 74.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Javier Olivan sold 926 shares of Meta Platforms stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $634.94, for a total value of $587,954.44. Following the sale, the chief operating officer directly owned 15,187 shares in the company, valued at $9,642,833.78. The trade was a 5.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 161,446 shares of company stock valued at $103,451,688 over the last three months. 13.61% of the stock is owned by corporate insiders.

Meta Platforms Trading Down 2.5%

Shares of META stock opened at $638.18 on Friday. The firm has a market capitalization of $1.61 trillion, a P/E ratio of 27.16, a price-to-earnings-growth ratio of 1.02 and a beta of 1.30. Meta Platforms, Inc. has a 1 year low of $479.80 and a 1 year high of $796.25. The firm’s fifty day simple moving average is $653.98 and its 200 day simple moving average is $678.88. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 0.27.

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

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Monday, March 16th will be paid a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, March 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 8.94%.

Key Stories Impacting Meta Platforms

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

Analyst Ratings Changes

A number of research firms have recently commented on META. Piper Sandler lifted their price target on shares of Meta Platforms from $840.00 to $880.00 and gave the company an “overweight” rating in a research report on Thursday, January 29th. Wolfe Research reaffirmed an “outperform” rating and set a $850.00 price objective (up from $800.00) on shares of Meta Platforms in a report on Thursday, January 29th. Arete Research reiterated a “neutral” rating on shares of Meta Platforms in a research note on Thursday, March 5th. DA Davidson lifted their target price on shares of Meta Platforms from $825.00 to $850.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Finally, BMO Capital Markets boosted their target price on shares of Meta Platforms from $710.00 to $730.00 and gave the stock a “market perform” rating in a research report on Thursday, January 29th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $844.44.

Check Out Our Latest Report on Meta Platforms

About Meta Platforms

(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

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

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