Signal Advisors Wealth LLC Has $2.34 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Signal Advisors Wealth LLC cut its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 6.4% during the 4th quarter, Holdings Channel reports. The firm owned 3,990 shares of the social networking company’s stock after selling 274 shares during the period. Signal Advisors Wealth LLC’s holdings in Meta Platforms were worth $2,336,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. JDM Financial Group LLC acquired a new position in shares of Meta Platforms in the 3rd quarter valued at approximately $30,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Meta Platforms during the third quarter worth about $36,000. Avondale Wealth Management bought a new position in shares of Meta Platforms during the fourth quarter valued at $41,000. Halpern Financial Inc. acquired a new stake in Meta Platforms in the third quarter valued at $46,000. Finally, West Financial Advisors LLC bought a new position in shares of Meta Platforms during the third quarter worth about $49,000. Institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on META. Morgan Stanley increased their target price on shares of Meta Platforms from $600.00 to $660.00 and gave the company an “overweight” rating in a research report on Monday. Wolfe Research increased their price objective on shares of Meta Platforms from $670.00 to $730.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Bank of America boosted their target price on shares of Meta Platforms from $630.00 to $660.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Susquehanna raised their target price on Meta Platforms from $600.00 to $675.00 and gave the stock a “positive” rating in a research note on Thursday, October 31st. Finally, Mizuho raised their price target on shares of Meta Platforms from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Two investment 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 given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $650.05.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 35,921 shares of Meta Platforms stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $633.25, for a total value of $22,746,973.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Javier Olivan sold 413 shares of the stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $580.65, for a total value of $239,808.45. Following the sale, the chief operating officer now directly owns 11,120 shares in the company, valued at $6,456,828. This trade represents a 3.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 423,427 shares of company stock worth $256,996,450 over the last quarter. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Trading Down 2.3 %

NASDAQ:META opened at $594.25 on Wednesday. Meta Platforms, Inc. has a 12 month low of $358.61 and a 12 month high of $638.40. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The firm’s 50 day moving average is $595.02 and its 200 day moving average is $554.81. The stock has a market capitalization of $1.50 trillion, a PE ratio of 27.99, a price-to-earnings-growth ratio of 1.36 and a beta of 1.19.

Meta Platforms (NASDAQ:META) last issued 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 return on equity of 35.60% and a net margin of 35.55%. The firm had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Sell-side analysts expect that Meta Platforms, Inc. will post 22.68 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. Shareholders of record on Monday, December 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.34%. Meta Platforms’s dividend payout ratio is presently 9.42%.

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.