Signature Estate & Investment Advisors LLC Sells 802 Shares of Meta Platforms, Inc. (NASDAQ:META)

Signature Estate & Investment Advisors LLC trimmed its holdings in Meta Platforms, Inc. (NASDAQ:META) by 0.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 118,781 shares of the social networking company’s stock after selling 802 shares during the quarter. Meta Platforms makes up approximately 1.7% of Signature Estate & Investment Advisors LLC’s holdings, making the stock its 12th biggest position. Signature Estate & Investment Advisors LLC’s holdings in Meta Platforms were worth $69,547,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Seelaus Asset Management LLC grew its holdings in shares of Meta Platforms by 0.9% in the fourth quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company’s stock valued at $960,000 after purchasing an additional 15 shares during the period. Meredith Wealth Planning boosted its holdings in Meta Platforms by 0.8% in the 4th quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company’s stock valued at $1,097,000 after purchasing an additional 15 shares during the last quarter. Maiden Cove Capital LLC grew its stake in shares of Meta Platforms by 3.2% in the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company’s stock valued at $282,000 after buying an additional 15 shares during the period. Stephens Consulting LLC increased its holdings in shares of Meta Platforms by 5.3% during the 4th quarter. Stephens Consulting LLC now owns 317 shares of the social networking company’s stock worth $186,000 after buying an additional 16 shares during the last quarter. Finally, VeraBank N.A. raised its position in shares of Meta Platforms by 0.8% during the 4th quarter. VeraBank N.A. now owns 1,954 shares of the social networking company’s stock valued at $1,144,000 after buying an additional 16 shares during the period. Institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $591.76, for a total transaction of $535,542.80. Following the completion of the sale, the insider now directly owns 32,915 shares of the company’s stock, valued at approximately $19,477,780.40. This trade represents a 2.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Andrew Bosworth sold 5,060 shares of the business’s stock in a transaction that occurred on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total value of $3,727,550.20. Following the completion of the transaction, the chief technology officer now directly owns 5,139 shares in the company, valued at approximately $3,785,747.13. The trade was a 49.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 585,605 shares of company stock worth $386,710,448 in the last 90 days. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

Shares of META stock opened at $626.31 on Wednesday. The stock’s 50-day moving average is $656.24 and its two-hundred day moving average is $608.00. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. Meta Platforms, Inc. has a 1 year low of $414.50 and a 1 year high of $740.91. The firm has a market cap of $1.59 trillion, a price-to-earnings ratio of 26.18, a PEG ratio of 1.42 and a beta of 1.23.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same quarter in the prior year, the firm posted $5.33 EPS. Analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be given a $0.525 dividend. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, March 14th. This represents a $2.10 annualized dividend and a yield of 0.34%. Meta Platforms’s dividend payout ratio is 8.78%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on META shares. UBS Group increased their price objective on Meta Platforms from $736.00 to $786.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. increased their price target on Meta Platforms from $660.00 to $725.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Royal Bank of Canada boosted their price objective on shares of Meta Platforms from $700.00 to $800.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Tigress Financial reaffirmed a “strong-buy” rating on shares of Meta Platforms in a research note on Tuesday, February 11th. Finally, BMO Capital Markets boosted their price target on shares of Meta Platforms from $530.00 to $610.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus target price of $718.31.

Meta Platforms 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.