Signet Financial Management LLC Buys 647 Shares of Meta Platforms, Inc. (NASDAQ:META)

Signet Financial Management LLC raised its stake in Meta Platforms, Inc. (NASDAQ:META) by 4.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,480 shares of the social networking company’s stock after acquiring an additional 647 shares during the period. Meta Platforms makes up 1.2% of Signet Financial Management LLC’s portfolio, making the stock its 15th largest holding. Signet Financial Management LLC’s holdings in Meta Platforms were worth $9,649,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Catalyst Private Wealth LLC grew its holdings in shares of Meta Platforms by 7.9% in the fourth quarter. Catalyst Private Wealth LLC now owns 8,763 shares of the social networking company’s stock valued at $5,131,000 after purchasing an additional 640 shares in the last quarter. Peddock Capital Advisors LLC grew its position in Meta Platforms by 14.4% in the fourth quarter. Peddock Capital Advisors LLC now owns 3,014 shares of the social networking company’s stock worth $1,765,000 after acquiring an additional 380 shares in the last quarter. Parisi Gray Wealth Management increased its stake in Meta Platforms by 1.4% during the fourth quarter. Parisi Gray Wealth Management now owns 9,037 shares of the social networking company’s stock worth $5,291,000 after acquiring an additional 128 shares during the last quarter. Pallas Capital Advisors LLC raised its position in Meta Platforms by 2.4% during the fourth quarter. Pallas Capital Advisors LLC now owns 19,984 shares of the social networking company’s stock valued at $11,701,000 after purchasing an additional 460 shares during the period. Finally, Miracle Mile Advisors LLC lifted its stake in shares of Meta Platforms by 17.9% in the 4th quarter. Miracle Mile Advisors LLC now owns 48,528 shares of the social networking company’s stock valued at $28,414,000 after purchasing an additional 7,369 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Down 1.2 %

Shares of NASDAQ:META opened at $608.33 on Tuesday. The business’s 50-day moving average is $594.58 and its 200 day moving average is $554.18. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. Meta Platforms, Inc. has a 1 year low of $358.61 and a 1 year high of $638.40. The firm has a market capitalization of $1.54 trillion, a P/E ratio of 28.65, a P/E/G ratio of 1.36 and a beta of 1.19.

Meta Platforms (NASDAQ:META) last posted 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. The firm had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. On average, research analysts predict that Meta Platforms, Inc. will post 22.68 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

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

Insider Activity

In other news, 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 transaction, the chief operating officer now directly owns 11,120 shares of the company’s stock, valued at approximately $6,456,828. This represents a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 35,921 shares of Meta Platforms stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $607.97, for a total value of $21,838,890.37. The disclosure for this sale can be found here. Insiders have sold 423,427 shares of company stock valued at $256,996,450 over the last ninety days. 13.71% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on META shares. Sanford C. Bernstein boosted their target price on Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. UBS Group increased their target price on shares of Meta Platforms from $690.00 to $719.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Raymond James reaffirmed a “strong-buy” rating and set a $675.00 price target on shares of Meta Platforms in a research note on Monday, November 25th. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research report on Thursday, October 31st. Finally, Truist Financial boosted their target price on Meta Platforms from $650.00 to $700.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. Two equities research 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 company. According to MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and an average price target of $650.05.

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.