Selective Wealth Management Inc. reduced its stake in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 2.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 21,220 shares of the social networking company’s stock after selling 628 shares during the period. Meta Platforms makes up approximately 4.8% 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 $11,031,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of the stock. Madison Wealth Partners Inc increased its position in shares of Meta Platforms by 1.6% during the 4th quarter. Madison Wealth Partners Inc now owns 1,417 shares of the social networking company’s stock valued at $502,000 after purchasing an additional 23 shares during the last quarter. Monterey Private Wealth Inc. grew its stake in shares of Meta Platforms by 1.8% during the 1st quarter. Monterey Private Wealth Inc. now owns 1,379 shares of the social networking company’s stock worth $670,000 after acquiring an additional 24 shares during the period. Grandview Asset Management LLC grew its stake in shares of Meta Platforms by 0.3% during the 1st quarter. Grandview Asset Management LLC now owns 8,549 shares of the social networking company’s stock worth $4,151,000 after acquiring an additional 24 shares during the period. Addison Advisors LLC grew its stake in shares of Meta Platforms by 3.9% during the 4th quarter. Addison Advisors LLC now owns 670 shares of the social networking company’s stock worth $237,000 after acquiring an additional 25 shares during the period. Finally, Smithfield Trust Co grew its stake in shares of Meta Platforms by 0.5% during the 4th quarter. Smithfield Trust Co now owns 4,895 shares of the social networking company’s stock worth $1,730,000 after acquiring an additional 25 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.
Meta Platforms Price Performance
Shares of Meta Platforms stock opened at $494.78 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. The business’s 50 day simple moving average is $478.61 and its two-hundred day simple moving average is $449.33. The stock has a market capitalization of $1.26 trillion, a P/E ratio of 28.42, a price-to-earnings-growth ratio of 1.30 and a beta of 1.21. Meta Platforms, Inc. has a one year low of $274.38 and a one year high of $531.49.
Meta Platforms Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th will be paid a $0.50 dividend. The ex-dividend date is Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a yield of 0.40%. Meta Platforms’s dividend payout ratio (DPR) is currently 11.49%.
Insider Transactions at Meta Platforms
In other news, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $472.70, for a total value of $194,752.40. Following the sale, the chief operating officer now directly owns 15,376 shares in the company, valued at approximately $7,268,235.20. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $472.70, for a total value of $194,752.40. Following the sale, the chief operating officer now directly owns 15,376 shares in the company, valued at approximately $7,268,235.20. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Sheryl Sandberg sold 105,000 shares of Meta Platforms stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total value of $50,054,550.00. Following the completion of the sale, the director now owns 630,293 shares in the company, valued at $300,466,976.03. The disclosure for this sale can be found here. In the last three months, insiders have sold 235,757 shares of company stock worth $114,265,610. 13.71% of the stock is currently owned by insiders.
Analyst Ratings Changes
META has been the subject of several research reports. Royal Bank of Canada cut their price target on Meta Platforms from $600.00 to $570.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Wolfe Research cut their price target on Meta Platforms from $530.00 to $500.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. 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 research note on Thursday, April 25th. Benchmark reiterated a “hold” rating on shares of Meta Platforms in a research note on Monday, April 22nd. Finally, Rosenblatt Securities raised their target price on Meta Platforms from $520.00 to $562.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $510.05.
Check Out Our Latest Analysis on Meta Platforms
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.
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