Signature Wealth Management Partners LLC Lowers Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Signature Wealth Management Partners LLC trimmed its holdings in Meta Platforms, Inc. (NASDAQ:META) by 2.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,233 shares of the social networking company’s stock after selling 110 shares during the quarter. Meta Platforms comprises about 1.8% of Signature Wealth Management Partners LLC’s investment portfolio, making the stock its 12th biggest holding. Signature Wealth Management Partners LLC’s holdings in Meta Platforms were worth $2,423,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. increased its position in Meta Platforms by 4.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 54,116 shares of the social networking company’s stock valued at $30,978,000 after buying an additional 2,431 shares in the last quarter. Traynor Capital Management Inc. grew its stake in shares of Meta Platforms by 140.9% in the third quarter. Traynor Capital Management Inc. now owns 3,199 shares of the social networking company’s stock worth $1,831,000 after acquiring an additional 1,871 shares during the last quarter. abrdn plc increased its holdings in shares of Meta Platforms by 4.6% during the third quarter. abrdn plc now owns 1,389,194 shares of the social networking company’s stock valued at $794,647,000 after acquiring an additional 60,486 shares in the last quarter. Cantor Fitzgerald Investment Advisors L.P. raised its position in shares of Meta Platforms by 47.6% in the 3rd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 1,662 shares of the social networking company’s stock worth $951,000 after purchasing an additional 536 shares during the last quarter. Finally, Smith Group Asset Management LLC boosted its stake in Meta Platforms by 3.7% in the 3rd quarter. Smith Group Asset Management LLC now owns 68,329 shares of the social networking company’s stock worth $39,114,000 after purchasing an additional 2,445 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on META shares. Piper Sandler increased their price target on shares of Meta Platforms from $575.00 to $650.00 and gave the company an “overweight” rating in a report on Thursday. BMO Capital Markets boosted their price target on Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a research note on Thursday. Morgan Stanley increased their price objective on Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Tigress Financial boosted their target price on Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 16th. Finally, Mizuho raised their price target on shares of Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday. Two 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $634.37.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $580.10, for a total value of $524,990.50. Following the sale, the insider now owns 31,482 shares of the company’s stock, valued at $18,262,708.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $580.10, for a total value of $524,990.50. Following the sale, the insider now owns 31,482 shares in the company, valued at approximately $18,262,708.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Javier Olivan sold 413 shares of the stock in a transaction on Friday, October 25th. The shares were sold at an average price of $574.16, for a total transaction of $237,128.08. Following the transaction, the chief operating officer now owns 10,707 shares of the company’s stock, valued at $6,147,531.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 251,573 shares of company stock worth $133,019,910. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Trading Down 4.1 %

META stock opened at $567.58 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. Meta Platforms, Inc. has a 1-year low of $296.86 and a 1-year high of $602.95. The business has a 50 day simple moving average of $555.21 and a two-hundred day simple moving average of $512.56. The company has a market capitalization of $1.44 trillion, a price-to-earnings ratio of 32.60, a PEG ratio of 1.42 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The firm had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. Research analysts anticipate that Meta Platforms, Inc. will post 21.44 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were issued a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

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.