Selective Wealth Management Inc. Has $10.02 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Selective Wealth Management Inc. lessened its holdings in Meta Platforms, Inc. (NASDAQ:META) by 8.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 16,858 shares of the social networking company’s stock after selling 1,598 shares during the period. Meta Platforms makes up about 4.1% of Selective Wealth Management Inc.’s holdings, making the stock its 4th biggest holding. Selective Wealth Management Inc.’s holdings in Meta Platforms were worth $10,018,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. JDM Financial Group LLC acquired a new position in Meta Platforms during the 3rd quarter worth approximately $30,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Meta Platforms during the third quarter worth $36,000. Avondale Wealth Management acquired a new position in shares of Meta Platforms during the fourth quarter worth $41,000. Halpern Financial Inc. acquired a new stake in shares of Meta Platforms during the 3rd quarter valued at $46,000. Finally, West Financial Advisors LLC bought a new stake in Meta Platforms during the 3rd quarter worth $49,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Barclays increased their target price on Meta Platforms from $550.00 to $630.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Roth Mkm boosted their target price on shares of Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Mizuho raised their price target on shares of Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Hsbc Global Res raised shares of Meta Platforms to a “hold” rating in a research note on Thursday, October 24th. Finally, Pivotal Research raised their target price on Meta Platforms from $780.00 to $800.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and an average price target of $650.05.

Meta Platforms Stock Performance

Shares of META opened at $612.77 on Monday. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The stock has a 50-day moving average price of $596.78 and a 200-day moving average price of $557.04. The company has a market cap of $1.55 trillion, a PE ratio of 28.86, a price-to-earnings-growth ratio of 1.22 and a beta of 1.19. Meta Platforms, Inc. has a 12-month low of $370.95 and a 12-month high of $638.40.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The business had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. As a group, equities analysts forecast that Meta Platforms, Inc. will post 22.68 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.33%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s dividend payout ratio is currently 9.42%.

Insider Buying and Selling at Meta Platforms

In other news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $574.70, for a total transaction of $520,103.50. Following the transaction, the insider now directly owns 32,387 shares of the company’s stock, valued at approximately $18,612,808.90. This trade represents a 2.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 35,921 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $633.25, for a total value of $22,746,973.25. The disclosure for this sale can be found here. Insiders have sold 496,174 shares of company stock worth $301,408,499 over the last ninety days. Insiders own 13.71% of the company’s stock.

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.