StoneCrest Wealth Management Inc. Has $5.14 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

StoneCrest Wealth Management Inc. grew its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,786 shares of the social networking company’s stock after purchasing an additional 166 shares during the quarter. Meta Platforms makes up about 3.4% of StoneCrest Wealth Management Inc.’s investment portfolio, making the stock its 10th largest position. StoneCrest Wealth Management Inc.’s holdings in Meta Platforms were worth $5,144,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of META. JDM Financial Group LLC bought a new position in shares of Meta Platforms during the third quarter valued at about $30,000. Safe Harbor Fiduciary LLC bought a new position in Meta Platforms during the 3rd quarter worth approximately $36,000. Avondale Wealth Management purchased a new position in Meta Platforms in the 4th quarter worth approximately $41,000. Halpern Financial Inc. bought a new stake in Meta Platforms in the third quarter valued at approximately $46,000. Finally, West Financial Advisors LLC purchased a new stake in shares of Meta Platforms during the third quarter valued at approximately $49,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Meta Platforms

In related news, CEO Mark Zuckerberg sold 35,921 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $633.25, for a total value of $22,746,973.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Aaron Anderson sold 731 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $557.00, for a total value of $407,167.00. Following the sale, the chief accounting officer now directly owns 3,414 shares in the company, valued at approximately $1,901,598. This represents a 17.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 496,174 shares of company stock worth $301,408,499. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Trading Up 0.2 %

Shares of NASDAQ:META opened at $612.77 on Friday. The stock’s 50-day simple moving average is $596.78 and its two-hundred day simple moving average is $556.71. The stock has a market capitalization of $1.55 trillion, a price-to-earnings ratio of 28.86, a PEG ratio of 1.22 and a beta of 1.19. Meta Platforms, Inc. has a 52-week low of $370.95 and a 52-week high of $638.40. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (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 analyst estimates of $40.21 billion. Analysts expect that Meta Platforms, Inc. will post 22.68 EPS for the current year.

Meta Platforms Announces Dividend

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

Analysts Set New Price Targets

META has been the subject of a number of recent analyst reports. Barclays upped their price target on shares of Meta Platforms from $550.00 to $630.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. BMO Capital Markets increased their target price on shares of Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. Susquehanna boosted their price target on Meta Platforms from $600.00 to $675.00 and gave the company a “positive” rating in a report on Thursday, October 31st. KeyCorp increased their price objective on Meta Platforms from $655.00 to $700.00 and gave the stock an “overweight” rating in a report on Friday, January 10th. Finally, Bank of America boosted their target price on Meta Platforms from $630.00 to $660.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average price target of $650.05.

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.