Atlanta Consulting Group Advisors LLC Has $2.33 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Atlanta Consulting Group Advisors LLC increased its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 828.8% during the third quarter, according to its most recent filing with the SEC. The fund owned 4,068 shares of the social networking company's stock after buying an additional 3,630 shares during the quarter. Atlanta Consulting Group Advisors LLC's holdings in Meta Platforms were worth $2,329,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in META. Capital World Investors increased its position in shares of Meta Platforms by 0.6% during the first quarter. Capital World Investors now owns 38,299,316 shares of the social networking company's stock valued at $18,597,382,000 after buying an additional 244,803 shares during the period. Capital Research Global Investors boosted its stake in shares of Meta Platforms by 14.5% during the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company's stock valued at $16,799,612,000 after purchasing an additional 4,379,826 shares during the period. GQG Partners LLC boosted its stake in shares of Meta Platforms by 3.1% during the first quarter. GQG Partners LLC now owns 11,497,335 shares of the social networking company's stock valued at $5,582,876,000 after purchasing an additional 342,742 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Meta Platforms by 57,001.5% during the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company's stock valued at $5,447,975,000 after purchasing an additional 9,500,444 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Meta Platforms by 2.8% in the second quarter. Dimensional Fund Advisors LP now owns 7,754,450 shares of the social networking company's stock worth $3,911,029,000 after acquiring an additional 208,677 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Trading Up 0.0 %

Shares of META traded up $0.01 during trading hours on Wednesday, hitting $561.10. The stock had a trading volume of 5,639,719 shares, compared to its average volume of 14,995,385. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The firm has a market cap of $1.42 trillion, a P/E ratio of 26.23, a P/E/G ratio of 1.23 and a beta of 1.22. The company's fifty day simple moving average is $570.23 and its 200 day simple moving average is $522.73. Meta Platforms, Inc. has a 12-month low of $313.66 and a 12-month high of $602.95.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.19 by $0.84. The company had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. Equities research analysts forecast that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal year.

Meta Platforms Announces Dividend

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

Insider Activity

In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of Meta Platforms stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total transaction of $17,101,342.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Christopher K. Cox sold 20,000 shares of the business's stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $557.52, for a total transaction of $11,150,400.00. Following the transaction, the insider now owns 338,662 shares in the company, valued at approximately $188,810,838.24. This represents a 5.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 185,958 shares of company stock valued at $101,181,747. Insiders own 13.71% of the company's stock.

Analyst Upgrades and Downgrades

META has been the subject of a number of research reports. TD Cowen increased their price objective on Meta Platforms from $600.00 to $675.00 and gave the stock a "buy" rating in a report on Thursday, October 17th. UBS Group raised their price target on Meta Platforms from $690.00 to $719.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Scotiabank reduced their price target on Meta Platforms from $585.00 to $583.00 and set a "sector perform" rating for the company in a report on Thursday, October 31st. Sanford C. Bernstein increased their price objective on Meta Platforms from $600.00 to $675.00 and gave the company an "outperform" rating in a research report on Friday, October 25th. Finally, Citigroup increased their price objective on Meta Platforms from $645.00 to $705.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Two 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus 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.