Atlanta Consulting Group Advisors LLC Purchases 3,630 Shares of Meta Platforms, Inc. (NASDAQ:META)

Atlanta Consulting Group Advisors LLC increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 828.8% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 4,068 shares of the social networking company’s stock after purchasing an additional 3,630 shares during the period. Atlanta Consulting Group Advisors LLC’s holdings in Meta Platforms were worth $2,329,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. grew its stake in shares of Meta Platforms by 48.8% in the first quarter. China Universal Asset Management Co. Ltd. now owns 49,191 shares of the social networking company’s stock valued at $23,886,000 after acquiring an additional 16,138 shares in the last quarter. Empowered Funds LLC increased its position in Meta Platforms by 22.4% during the 1st quarter. Empowered Funds LLC now owns 67,195 shares of the social networking company’s stock worth $32,629,000 after purchasing an additional 12,301 shares in the last quarter. Cypress Asset Management Inc. TX increased its holdings in Meta Platforms by 541.8% in the 1st quarter. Cypress Asset Management Inc. TX now owns 3,819 shares of the social networking company’s stock worth $1,862,000 after purchasing an additional 3,224 shares in the last quarter. Evolutionary Tree Capital Management LLC bought a new position in Meta Platforms in the 1st quarter valued at approximately $2,607,000. Finally, Point Break Capital Management LLC acquired a new position in shares of Meta Platforms during the first quarter worth $2,481,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Activity

In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $531.46, for a total value of $8,876,444.92. Following the completion of the sale, the chief executive officer now directly owns 11,384 shares of the company’s stock, valued at $6,050,140.64. The trade was a 59.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Susan J. Li sold 33,018 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total transaction of $17,101,342.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 185,958 shares of company stock valued at $101,181,747. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Stock Performance

Shares of NASDAQ:META opened at $561.09 on Wednesday. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 12 month low of $313.66 and a 12 month high of $602.95. The company has a market capitalization of $1.42 trillion, a price-to-earnings ratio of 26.43, a PEG ratio of 1.23 and a beta of 1.22. The firm’s 50-day moving average is $570.23 and its 200 day moving average is $522.73.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating 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 firm had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Research analysts predict that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.36%. Meta Platforms’s dividend payout ratio (DPR) is 9.42%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. UBS Group upped their price objective 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. Royal Bank of Canada restated an “outperform” rating and set a $570.00 price objective on shares of Meta Platforms in a report on Thursday, August 1st. Tigress Financial lifted their target price on Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research report on Friday, August 16th. Bank of America increased their price objective on shares of Meta Platforms from $630.00 to $660.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Loop Capital boosted their price target on shares of Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and an average price target of $634.10.

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.