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

Signet Financial Management LLC lifted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,672 shares of the social networking company’s stock after acquiring an additional 30 shares during the quarter. Meta Platforms accounts for approximately 1.0% of Signet Financial Management LLC’s investment portfolio, making the stock its 23rd biggest holding. Signet Financial Management LLC’s holdings in Meta Platforms were worth $7,610,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Stone House Investment Management LLC increased its holdings in shares of Meta Platforms by 625.0% during the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after buying an additional 75 shares during the last quarter. Beaird Harris Wealth Management LLC grew its stake in shares of Meta Platforms by 68.9% in the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after acquiring an additional 42 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Meta Platforms in the fourth quarter worth $32,000. Clear Investment Research LLC grew its stake in shares of Meta Platforms by 411.1% in the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after acquiring an additional 74 shares in the last quarter. Finally, Cranbrook Wealth Management LLC lifted its position in shares of Meta Platforms by 80.4% during the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after purchasing an additional 45 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

META has been the topic of a number of recent analyst reports. BMO Capital Markets reiterated a “market perform” rating and set a $450.00 price target on shares of Meta Platforms in a research note on Wednesday, June 12th. Jefferies Financial Group reduced their price target on shares of Meta Platforms from $585.00 to $540.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Royal Bank of Canada reduced their price target on shares of Meta Platforms from $600.00 to $570.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Guggenheim reduced their price target on shares of Meta Platforms from $520.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Finally, Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $510.05.

Insider Buying and Selling at Meta Platforms

In other news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $485.00, for a total value of $283,725.00. Following the transaction, the insider now directly owns 38,983 shares in the company, valued at approximately $18,906,755. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, COO Javier Olivan sold 490 shares of Meta Platforms stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $517.75, for a total value of $253,697.50. Following the sale, the chief operating officer now directly owns 7,579 shares in the company, valued at approximately $3,924,027.25. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $485.00, for a total transaction of $283,725.00. Following the completion of the sale, the insider now owns 38,983 shares in the company, valued at $18,906,755. The disclosure for this sale can be found here. Insiders have sold 232,607 shares of company stock worth $113,147,760 in the last ninety days. 13.71% of the stock is owned by insiders.

Meta Platforms Stock Up 0.7 %

NASDAQ META traded up $3.52 during trading hours on Thursday, reaching $516.64. 5,540,536 shares of the company traded hands, compared to its average volume of 16,412,430. Meta Platforms, Inc. has a 12 month low of $274.38 and a 12 month high of $531.49. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $1.31 trillion, a PE ratio of 29.86, a PEG ratio of 1.33 and a beta of 1.21. The company has a 50 day moving average of $479.18 and a two-hundred day moving average of $452.22.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The firm had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. As a group, equities analysts expect that Meta Platforms, Inc. will post 20.16 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a yield of 0.39%. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

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.