Selective Wealth Management Inc. Sells 1,598 Shares of Meta Platforms, Inc. (NASDAQ:META)

Selective Wealth Management Inc. reduced its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 8.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 16,858 shares of the social networking company's stock after selling 1,598 shares during the quarter. Meta Platforms comprises about 4.1% of Selective Wealth Management Inc.'s holdings, making the stock its 4th largest position. Selective Wealth Management Inc.'s holdings in Meta Platforms were worth $10,018,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the company. International Assets Investment Management LLC increased its stake in Meta Platforms by 57,001.5% in the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company's stock valued at $5,447,975,000 after purchasing an additional 9,500,444 shares in the last quarter. Integrated Investment Consultants LLC increased its position in shares of Meta Platforms by 61,769.3% in the third quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company's stock valued at $2,365,820,000 after buying an additional 4,126,190 shares in the last quarter. World Investment Advisors LLC raised its stake in shares of Meta Platforms by 4,658.5% during the 3rd quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company's stock worth $520,662,000 after buying an additional 890,434 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Meta Platforms by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company's stock worth $27,470,870,000 after buying an additional 698,884 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in Meta Platforms by 926.6% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 733,358 shares of the social networking company's stock valued at $369,774,000 after acquiring an additional 661,923 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on META. Wells Fargo & Company upped their price target on shares of Meta Platforms from $641.00 to $685.00 and gave the company an "overweight" rating in a report on Monday, January 13th. Raymond James reiterated a "strong-buy" rating and set a $675.00 target price on shares of Meta Platforms in a report on Monday, November 25th. Stifel Nicolaus boosted their price target on Meta Platforms from $590.00 to $663.00 and gave the stock a "buy" rating in a report on Monday, October 14th. BMO Capital Markets increased their price objective on Meta Platforms from $525.00 to $530.00 and gave the company a "market perform" rating in a research note on Thursday, October 31st. Finally, Bank of America boosted their target price on shares of Meta Platforms from $630.00 to $660.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms currently has a consensus rating of "Moderate Buy" and an average target price of $650.05.

Meta Platforms Stock Up 0.2 %

META stock traded up $1.47 during midday trading on Monday, hitting $612.77. 17,239,131 shares of the company's stock were exchanged, compared to its average volume of 10,812,479. The firm has a 50 day moving average price of $596.78 and a 200-day moving average price of $557.04. Meta Platforms, Inc. has a 12-month low of $370.95 and a 12-month high of $638.40. The stock has a market capitalization of $1.55 trillion, a price-to-earnings ratio of 28.86, a price-to-earnings-growth ratio of 1.22 and a beta of 1.19. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (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 analyst estimates of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. On average, analysts anticipate that Meta Platforms, Inc. will post 22.68 EPS for the current year.

Meta Platforms Announces Dividend

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

Insider Activity

In other news, CEO Mark Zuckerberg sold 35,921 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $607.97, for a total transaction of $21,838,890.37. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Aaron Anderson sold 731 shares of the company's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $407,167.00. Following the transaction, the chief accounting officer now owns 3,414 shares of the company's stock, valued at approximately $1,901,598. The trade was a 17.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 496,174 shares of company stock worth $301,408,499. 13.71% of the stock is currently owned by insiders.

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.