Atomi Financial Group Inc. Purchases 445 Shares of Meta Platforms, Inc. (NASDAQ:META)

Atomi Financial Group Inc. increased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.9% during the first quarter, Holdings Channel reports. The fund owned 48,098 shares of the social networking company’s stock after acquiring an additional 445 shares during the quarter. Meta Platforms makes up approximately 2.2% of Atomi Financial Group Inc.’s investment portfolio, making the stock its 3rd biggest position. Atomi Financial Group Inc.’s holdings in Meta Platforms were worth $23,355,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of META. Norges Bank acquired a new position in Meta Platforms in the 4th quarter worth $11,285,855,000. International Assets Investment Management LLC lifted its holdings in Meta Platforms by 11,154.4% in the 4th quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company’s stock worth $1,752,900,000 after buying an additional 4,908,251 shares in the last quarter. Capital Research Global Investors lifted its holdings in Meta Platforms by 17.2% in the 4th quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock worth $10,695,722,000 after buying an additional 4,440,229 shares in the last quarter. Concentrum Wealth Management lifted its holdings in Meta Platforms by 111.0% in the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after buying an additional 3,888,308 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Meta Platforms by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock worth $65,960,215,000 after buying an additional 3,104,550 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of NASDAQ:META traded down $0.06 on Monday, hitting $498.81. 7,120,126 shares of the company were exchanged, compared to its average volume of 16,138,732. The firm has a market capitalization of $1.27 trillion, a price-to-earnings ratio of 28.76, a PEG ratio of 1.29 and a beta of 1.21. The company’s 50 day moving average price is $492.56 and its two-hundred day moving average price is $467.54. Meta Platforms, Inc. has a one year low of $274.38 and a one year high of $542.81. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. The business had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. Research analysts expect that Meta Platforms, Inc. will post 20.21 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 annualized dividend and a yield of 0.40%. Meta Platforms’s dividend payout ratio is 11.49%.

Insiders Place Their Bets

In other news, COO Javier Olivan sold 412 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $472.70, for a total transaction of $194,752.40. Following the transaction, the chief operating officer now directly owns 15,376 shares in the company, valued at $7,268,235.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 2,011 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $500.92, for a total value of $1,007,350.12. Following the completion of the sale, the chief executive officer now owns 318,932 shares of the company’s stock, valued at $159,759,417.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Javier Olivan sold 412 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $472.70, for a total transaction of $194,752.40. Following the sale, the chief operating officer now directly owns 15,376 shares of the company’s stock, valued at approximately $7,268,235.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 294,278 shares of company stock valued at $146,060,559. 13.71% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on META. Canaccord Genuity Group dropped their target price on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Loop Capital reissued a “buy” rating and issued a $550.00 target price on shares of Meta Platforms in a research report on Wednesday, July 3rd. Raymond James boosted their target price on shares of Meta Platforms from $550.00 to $600.00 and gave the stock a “strong-buy” rating in a research report on Monday, July 1st. Oppenheimer dropped their target price on shares of Meta Platforms from $585.00 to $500.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Finally, Sanford C. Bernstein dropped their target price on shares of Meta Platforms from $590.00 to $565.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $515.64.

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.