Meta Platforms, Inc. (NASDAQ:META) Stake Lifted by Signature Estate & Investment Advisors LLC

Signature Estate & Investment Advisors LLC increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 6.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 119,583 shares of the social networking company's stock after purchasing an additional 7,628 shares during the period. Meta Platforms accounts for 1.6% of Signature Estate & Investment Advisors LLC's investment portfolio, making the stock its 12th largest holding. Signature Estate & Investment Advisors LLC's holdings in Meta Platforms were worth $68,454,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Connable Office Inc. grew its stake in shares of Meta Platforms by 0.6% in the 3rd quarter. Connable Office Inc. now owns 5,655 shares of the social networking company's stock valued at $3,237,000 after purchasing an additional 31 shares during the last quarter. BluePointe Capital Management LLC grew its position in Meta Platforms by 1.8% in the 3rd quarter. BluePointe Capital Management LLC now owns 2,670 shares of the social networking company's stock valued at $1,528,000 after buying an additional 47 shares during the last quarter. Black Diamond Financial LLC increased its stake in Meta Platforms by 13.6% in the 3rd quarter. Black Diamond Financial LLC now owns 1,279 shares of the social networking company's stock valued at $732,000 after buying an additional 153 shares during the period. King Wealth Management Group raised its position in Meta Platforms by 15.6% during the 3rd quarter. King Wealth Management Group now owns 16,984 shares of the social networking company's stock worth $9,722,000 after buying an additional 2,293 shares during the last quarter. Finally, CIBC Asset Management Inc raised its position in Meta Platforms by 5.5% during the 3rd quarter. CIBC Asset Management Inc now owns 628,272 shares of the social networking company's stock worth $359,648,000 after buying an additional 32,732 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Stock Down 0.3 %

META traded down $1.40 during trading hours on Tuesday, reaching $553.00. 3,662,874 shares of the stock traded hands, compared to its average volume of 15,010,993. Meta Platforms, Inc. has a fifty-two week low of $313.66 and a fifty-two week high of $602.95. The company has a market cap of $1.40 trillion, a price-to-earnings ratio of 26.10, a PEG ratio of 1.23 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The firm's fifty day simple moving average is $569.10 and its two-hundred day simple moving average is $521.96.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The business had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. As a group, analysts forecast that Meta Platforms, Inc. will post 22.53 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.36%. The ex-dividend date was Monday, September 16th. Meta Platforms's dividend payout ratio is currently 9.42%.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 901 shares of the firm's stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $567.70, for a total value of $511,497.70. Following the sale, the insider now owns 30,581 shares of the company's stock, valued at approximately $17,360,833.70. This trade represents a 2.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 84 shares of the business's stock in a transaction on Monday, October 14th. The shares were sold at an average price of $600.00, for a total transaction of $50,400.00. Following the transaction, the chief executive officer now directly owns 518,424 shares of the company's stock, valued at approximately $311,054,400. This trade represents a 0.02 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 140,593 shares of company stock valued at $75,253,970. Insiders own 13.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on META. Monness Crespi & Hardt boosted their price target on shares of Meta Platforms from $620.00 to $660.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Loop Capital raised their price target on Meta Platforms from $550.00 to $575.00 and gave the company a "buy" rating in a report on Tuesday, August 6th. BMO Capital Markets upped their price objective on Meta Platforms from $525.00 to $530.00 and gave the stock a "market perform" rating in a report on Thursday, October 31st. Pivotal Research raised their target price on Meta Platforms from $780.00 to $800.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Finally, Tigress Financial upped their price target on shares of Meta Platforms from $575.00 to $645.00 and gave the stock a "strong-buy" rating in a research note on Friday, August 16th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms currently has an average rating of "Moderate Buy" and a consensus price target of $634.10.

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.