Diversify Wealth Management LLC Has $15.42 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

Diversify Wealth Management LLC boosted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 90.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,040 shares of the social networking company’s stock after buying an additional 11,893 shares during the quarter. Meta Platforms makes up approximately 1.2% of Diversify Wealth Management LLC’s portfolio, making the stock its 15th biggest position. Diversify Wealth Management LLC’s holdings in Meta Platforms were worth $15,421,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. JDM Financial Group LLC bought a new stake in Meta Platforms in the third quarter valued at approximately $30,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Meta Platforms in the 3rd quarter worth approximately $36,000. Avondale Wealth Management bought a new stake in shares of Meta Platforms in the 4th quarter valued at $41,000. Halpern Financial Inc. acquired a new stake in shares of Meta Platforms during the third quarter worth $46,000. Finally, West Financial Advisors LLC bought a new position in Meta Platforms during the third quarter worth $49,000. Institutional investors own 79.91% of the company’s stock.

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $580.10, for a total transaction of $524,990.50. Following the sale, the insider now owns 31,482 shares in the company, valued at approximately $18,262,708.20. This trade represents a 2.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Nicholas Clegg sold 7,296 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $553.48, for a total transaction of $4,038,190.08. Following the completion of the transaction, the insider now owns 38,695 shares of the company’s stock, valued at $21,416,908.60. This trade represents a 15.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 531,190 shares of company stock worth $322,938,501 in the last ninety days. 13.71% of the stock is currently owned by insiders.

Meta Platforms Stock Up 0.6 %

Meta Platforms stock opened at $616.46 on Wednesday. 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, Inc. has a 1-year low of $381.16 and a 1-year high of $638.40. The firm has a market capitalization of $1.56 trillion, a price-to-earnings ratio of 29.04, a P/E/G ratio of 1.16 and a beta of 1.19. The firm has a 50 day simple moving average of $598.00 and a 200 day simple moving average of $558.31.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The company had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. On average, analysts predict that Meta Platforms, Inc. will post 22.96 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.32%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s payout ratio is 9.42%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Guggenheim upped their price target on shares of Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Bank of America raised their target price on Meta Platforms from $630.00 to $660.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Hsbc Global Res raised Meta Platforms to a “hold” rating in a research note on Thursday, October 24th. Monness Crespi & Hardt raised their price objective on shares of Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Susquehanna boosted their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “positive” rating in a research report on Thursday, October 31st. Two equities 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average target price of $651.27.

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.