Atlas Private Wealth Advisors Buys 202 Shares of Meta Platforms, Inc. (NASDAQ:META)

Atlas Private Wealth Advisors boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 5.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,777 shares of the social networking company’s stock after buying an additional 202 shares during the period. Atlas Private Wealth Advisors’ holdings in Meta Platforms were worth $2,164,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Delos Wealth Advisors LLC grew its holdings in shares of Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after purchasing an additional 58 shares during the last quarter. POM Investment Strategies LLC bought a new stake in shares of Meta Platforms in the 2nd quarter valued at about $38,000. Ruedi Wealth Management Inc. increased its holdings in shares of Meta Platforms by 122.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after acquiring an additional 44 shares during the period. Halpern Financial Inc. bought a new position in shares of Meta Platforms in the 3rd quarter worth $46,000. Finally, West Financial Advisors LLC purchased a new stake in shares of Meta Platforms during the 3rd quarter worth $49,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Stock Down 0.5 %

NASDAQ:META opened at $587.62 on Thursday. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $602.95. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The stock’s fifty day moving average is $534.36 and its two-hundred day moving average is $504.36. The stock has a market capitalization of $1.49 trillion, a price-to-earnings ratio of 33.92, a price-to-earnings-growth ratio of 1.39 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.23 earnings per share. Research analysts anticipate that Meta Platforms, Inc. will post 21.36 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio is currently 11.49%.

Insiders Place Their Bets

In other news, CEO Mark Zuckerberg sold 1,712 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $502.27, for a total transaction of $859,886.24. Following the completion of the sale, the chief executive officer now owns 129,888 shares in the company, valued at approximately $65,238,845.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $501.42, for a total value of $453,785.10. Following the completion of the sale, the insider now owns 36,035 shares in the company, valued at $18,068,669.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark Zuckerberg sold 1,712 shares of Meta Platforms stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $502.27, for a total value of $859,886.24. Following the completion of the sale, the chief executive officer now directly owns 129,888 shares in the company, valued at $65,238,845.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 266,412 shares of company stock valued at $140,058,708. Insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

META has been the subject of several analyst reports. The Goldman Sachs Group increased their price target on shares of Meta Platforms from $522.00 to $555.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Wedbush reaffirmed an “outperform” rating and issued a $600.00 price target on shares of Meta Platforms in a report on Thursday, September 26th. Susquehanna raised their price objective on Meta Platforms from $550.00 to $600.00 and gave the stock a “positive” rating in a research report on Thursday, August 1st. Sanford C. Bernstein raised their price target on Meta Platforms from $565.00 to $575.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Finally, Robert W. Baird boosted their target price on shares of Meta Platforms from $530.00 to $605.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus target price of $608.58.

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.