Signet Financial Management LLC Acquires 30 Shares of Meta Platforms, Inc. (NASDAQ:META)

Signet Financial Management LLC boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,672 shares of the social networking company’s stock after purchasing an additional 30 shares during the period. Meta Platforms comprises 1.0% of Signet Financial Management LLC’s portfolio, making the stock its 23rd biggest holding. Signet Financial Management LLC’s holdings in Meta Platforms were worth $7,610,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Stone House Investment Management LLC lifted its holdings in shares of Meta Platforms by 625.0% during the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after acquiring an additional 75 shares during the period. Beaird Harris Wealth Management LLC raised its holdings 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 valued at $31,000 after buying an additional 42 shares during the last quarter. Quest Partners LLC bought a new position in shares of Meta Platforms in the fourth quarter valued at about $32,000. Clear Investment Research LLC raised its holdings 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 valued at $33,000 after buying an additional 74 shares during the last quarter. Finally, Cranbrook Wealth Management LLC raised its holdings in shares of Meta Platforms by 80.4% in the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after buying an additional 45 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Stock Up 0.7 %

Shares of Meta Platforms stock traded up $3.52 on Thursday, reaching $516.64. 5,540,536 shares of the company were exchanged, compared to its average volume of 16,412,430. 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 company has a market capitalization of $1.31 trillion, a price-to-earnings ratio of 29.86, a PEG ratio of 1.33 and a beta of 1.21. Meta Platforms, Inc. has a one year low of $274.38 and a one year high of $531.49. The company has a 50-day moving average of $479.18 and a 200 day moving average of $452.22.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. The business had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. On average, equities research analysts forecast that Meta Platforms, Inc. will post 20.16 earnings per share for the current year.

Meta Platforms Announces Dividend

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

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total transaction of $305,370.00. Following the transaction, the insider now directly owns 38,398 shares of the company’s stock, valued at approximately $20,043,756. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Meta Platforms news, Director Sheryl Sandberg sold 105,000 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total value of $50,054,550.00. Following the transaction, the director now directly owns 630,293 shares of the company’s stock, valued at approximately $300,466,976.03. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $522.00, for a total value of $305,370.00. Following the completion of the transaction, the insider now directly owns 38,398 shares in the company, valued at $20,043,756. The disclosure for this sale can be found here. In the last three months, insiders have sold 232,607 shares of company stock valued at $113,147,760. 13.71% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on META shares. Piper Sandler reaffirmed an “overweight” rating and issued a $545.00 price target (down from $600.00) on shares of Meta Platforms in a report on Thursday, April 25th. Oppenheimer lowered their price objective on Meta Platforms from $585.00 to $500.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Citigroup lowered their price objective on Meta Platforms from $590.00 to $550.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Guggenheim lowered their price objective on Meta Platforms from $520.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Finally, Barclays lowered their price objective on Meta Platforms from $550.00 to $520.00 and set an “overweight” rating for the company in a research 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 company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $510.05.

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.