Signaturefd LLC Acquires 957 Shares of Meta Platforms, Inc. (NASDAQ:META)

Signaturefd LLC increased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 56,259 shares of the social networking company’s stock after purchasing an additional 957 shares during the quarter. Meta Platforms makes up 0.6% of Signaturefd LLC’s investment portfolio, making the stock its 26th biggest holding. Signaturefd LLC’s holdings in Meta Platforms were worth $32,940,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of META. Proficio Capital Partners LLC boosted its position in Meta Platforms by 78,471.1% during the fourth quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company’s stock valued at $3,658,713,000 after acquiring an additional 6,240,810 shares during the last quarter. Integrated Investment Consultants LLC boosted its position in Meta Platforms by 61,769.3% during the third quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock valued at $2,365,820,000 after acquiring an additional 4,126,190 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Meta Platforms during the 4th quarter worth about $2,243,603,000. Strategic Financial Concepts LLC boosted its position in shares of Meta Platforms by 87,269.8% during the 4th quarter. Strategic Financial Concepts LLC now owns 1,067,659 shares of the social networking company’s stock worth $625,125,000 after purchasing an additional 1,066,437 shares in the last quarter. Finally, World Investment Advisors LLC boosted its position in shares of Meta Platforms by 4,658.5% during the 3rd quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock worth $520,662,000 after purchasing an additional 890,434 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Scotiabank increased their price objective on shares of Meta Platforms from $583.00 to $627.00 and gave the stock a “sector perform” rating in a research report on Thursday, January 30th. Wedbush reissued an “outperform” rating and set a $770.00 price objective (up previously from $700.00) on shares of Meta Platforms in a research report on Thursday, January 30th. Wells Fargo & Company increased their price objective on shares of Meta Platforms from $685.00 to $752.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. DA Davidson increased their price objective on shares of Meta Platforms from $700.00 to $800.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Finally, Bank of America increased their price objective on shares of Meta Platforms from $710.00 to $765.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus target price of $718.31.

Insider Activity

In other news, CEO Mark Zuckerberg sold 55,589 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $717.72, for a total transaction of $39,897,337.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $590.00, for a total transaction of $243,670.00. Following the sale, the chief operating officer now owns 17,927 shares in the company, valued at approximately $10,576,930. This trade represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 632,023 shares of company stock worth $414,734,884. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Stock Up 0.3 %

Shares of NASDAQ:META opened at $584.06 on Thursday. The firm has a fifty day moving average price of $656.27 and a two-hundred day moving average price of $604.69. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. Meta Platforms, Inc. has a one year low of $414.50 and a one year high of $740.91. The company has a market cap of $1.48 trillion, a price-to-earnings ratio of 24.42, a PEG ratio of 1.42 and a beta of 1.23.

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

Meta Platforms Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be given a dividend of $0.525 per share. The ex-dividend date is Friday, March 14th. This represents a $2.10 annualized dividend and a dividend yield of 0.36%. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio (DPR) is 8.78%.

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.