Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Signet Financial Management LLC

Signet Financial Management LLC boosted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 4.1% in the 4th quarter, Holdings Channel reports. The fund owned 16,480 shares of the social networking company’s stock after buying an additional 647 shares during the period. Meta Platforms makes up 1.2% of Signet Financial Management LLC’s investment portfolio, making the stock its 15th largest position. Signet Financial Management LLC’s holdings in Meta Platforms were worth $9,649,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. International Assets Investment Management LLC grew its holdings in Meta Platforms by 57,001.5% in the third 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 during the period. Integrated Investment Consultants LLC lifted its position in shares of Meta Platforms by 61,769.3% during the 3rd 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. Sustainable Growth Advisers LP acquired a new stake in Meta Platforms in the 2nd quarter valued at $595,152,000. World Investment Advisors LLC increased its holdings in Meta Platforms by 4,658.5% in the 3rd quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock worth $520,662,000 after acquiring an additional 890,434 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Meta Platforms by 1.5% during the third quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock worth $27,470,870,000 after acquiring an additional 698,884 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

META has been the subject of a number of research reports. Citigroup boosted their target price on shares of Meta Platforms from $645.00 to $705.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Piper Sandler raised their target price on Meta Platforms from $650.00 to $670.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Hsbc Global Res upgraded Meta Platforms to a “hold” rating in a research report on Thursday, October 24th. Wolfe Research raised their price objective on Meta Platforms from $670.00 to $730.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Finally, Sanford C. Bernstein upped their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $650.05.

Insider Buying and Selling

In other Meta Platforms news, CEO Mark Zuckerberg sold 12,975 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $615.41, for a total value of $7,984,944.75. Following the sale, the chief executive officer now directly owns 381,290 shares of the company’s stock, valued at approximately $234,649,678.90. This represents a 3.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Susan J. Li sold 18,644 shares of Meta Platforms stock in a transaction on Monday, November 18th. The stock was sold at an average price of $553.55, for a total transaction of $10,320,386.20. Following the sale, the chief financial officer now directly owns 46,769 shares of the company’s stock, valued at approximately $25,888,979.95. This trade represents a 28.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 423,427 shares of company stock worth $256,996,450. Company insiders own 13.71% of the company’s stock.

Meta Platforms Trading Down 1.2 %

Shares of META stock opened at $608.33 on Tuesday. The stock has a market capitalization of $1.54 trillion, a P/E ratio of 28.65, a price-to-earnings-growth ratio of 1.36 and a beta of 1.19. Meta Platforms, Inc. has a fifty-two week low of $358.61 and a fifty-two 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. The company has a 50 day moving average price of $594.58 and a 200 day moving average price of $554.18.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data 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 return on equity of 35.60% and a net margin of 35.55%. The business had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Equities research analysts predict that Meta Platforms, Inc. will post 22.68 EPS for the current fiscal year.

Meta Platforms Announces Dividend

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

Meta Platforms Company 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.