Selective Wealth Management Inc. trimmed its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 3.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,277 shares of the social networking company's stock after selling 581 shares during the period. Meta Platforms comprises about 3.8% of Selective Wealth Management Inc.'s portfolio, making the stock its 4th largest position. Selective Wealth Management Inc.'s holdings in Meta Platforms were worth $8,848,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the business. Greystone Financial Group LLC lifted its position in Meta Platforms by 16.6% during the first quarter. Greystone Financial Group LLC now owns 3,961 shares of the social networking company's stock valued at $2,283,000 after purchasing an additional 564 shares during the period. McDonough Capital Management Inc raised its position in Meta Platforms by 3.7% during the first quarter. McDonough Capital Management Inc now owns 4,389 shares of the social networking company's stock worth $2,530,000 after acquiring an additional 156 shares during the period. First Citizens Bank & Trust Co. boosted its holdings in Meta Platforms by 3.7% in the 1st quarter. First Citizens Bank & Trust Co. now owns 56,439 shares of the social networking company's stock worth $32,529,000 after buying an additional 2,025 shares during the last quarter. Single Point Partners LLC boosted its stake in shares of Meta Platforms by 18.5% in the first quarter. Single Point Partners LLC now owns 859 shares of the social networking company's stock worth $495,000 after acquiring an additional 134 shares during the last quarter. Finally, Priebe Wealth Holdings LLC raised its stake in Meta Platforms by 16.5% in the 1st quarter. Priebe Wealth Holdings LLC now owns 650 shares of the social networking company's stock valued at $375,000 after purchasing an additional 92 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities analysts have weighed in on the company. Benchmark lowered their price objective on Meta Platforms from $820.00 to $640.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Rosenblatt Securities boosted their target price on Meta Platforms from $846.00 to $918.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Citigroup raised their price objective on shares of Meta Platforms from $655.00 to $690.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. boosted their target price on Meta Platforms from $675.00 to $735.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. Finally, Monness Crespi & Hardt increased their price objective on shares of Meta Platforms from $775.00 to $780.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms currently has a consensus rating of "Moderate Buy" and an average target price of $702.48.
View Our Latest Stock Report on Meta Platforms
Meta Platforms Trading Up 1.2%
META stock traded up $8.34 during trading on Tuesday, reaching $702.40. 10,572,177 shares of the stock traded hands, compared to its average volume of 14,509,543. The firm has a market capitalization of $1.77 trillion, a PE ratio of 29.36, a P/E/G ratio of 1.42 and a beta of 1.26. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The business's 50 day moving average price is $589.87 and its 200-day moving average price is $616.49. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $740.91.
Meta Platforms (NASDAQ:META - Get Free Report) last issued its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. The business had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The company's revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.71 EPS. As a group, sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.
Meta Platforms Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be given a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.30%. The ex-dividend date of this dividend is Monday, June 16th. Meta Platforms's payout ratio is currently 8.19%.
Insider Activity
In related news, COO Javier Olivan sold 608 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $488.18, for a total value of $296,813.44. Following the completion of the sale, the chief operating officer now directly owns 5,622 shares in the company, valued at approximately $2,744,547.96. This represents a 9.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 1,462 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $701.13, for a total value of $1,025,052.06. Following the completion of the transaction, the chief executive officer now directly owns 139,538 shares in the company, valued at $97,834,277.94. This trade represents a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,104 shares of company stock valued at $35,270,242. Company insiders own 13.61% of the company's stock.
Meta Platforms Company Profile
(
Free Report)
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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