Atlas Legacy Advisors LLC acquired a new stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,222 shares of the social networking company's stock, valued at approximately $1,301,000.
Several other hedge funds also recently modified their holdings of META. Integrated Investment Consultants LLC grew its holdings in shares of Meta Platforms by 61,769.3% in the 3rd quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company's stock worth $2,365,820,000 after acquiring an additional 4,126,190 shares during the last quarter. Strategic Financial Concepts LLC lifted its holdings in shares of Meta Platforms by 87,269.8% during the fourth quarter. Strategic Financial Concepts LLC now owns 1,067,659 shares of the social networking company's stock valued at $625,125,000 after purchasing an additional 1,066,437 shares during the last quarter. World Investment Advisors LLC boosted its position in shares of Meta Platforms by 4,658.5% in the 3rd quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company's stock valued at $520,662,000 after purchasing an additional 890,434 shares during the period. Geode Capital Management LLC increased its stake in Meta Platforms by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company's stock worth $27,470,870,000 after purchasing an additional 698,884 shares in the last quarter. Finally, National Pension Service raised its holdings in Meta Platforms by 14.6% during the 3rd quarter. National Pension Service now owns 4,318,046 shares of the social networking company's stock worth $2,471,822,000 after buying an additional 550,852 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.
Meta Platforms Stock Performance
Shares of NASDAQ:META traded up $12.38 during midday trading on Wednesday, reaching $669.88. 9,932,976 shares of the company traded hands, compared to its average volume of 15,715,486. The firm's fifty day moving average price is $648.73 and its two-hundred day moving average price is $594.06. Meta Platforms, Inc. has a 12 month low of $414.50 and a 12 month high of $740.91. The firm has a market capitalization of $1.70 trillion, a price-to-earnings ratio of 28.09, a price-to-earnings-growth ratio of 1.42 and a beta of 1.20. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16.
Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same quarter in the previous year, the company earned $5.33 EPS. On average, equities analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.
Meta Platforms Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be given a dividend of $0.525 per share. The ex-dividend date is Friday, March 14th. This represents a $2.10 annualized dividend and a dividend yield of 0.31%. This is an increase from Meta Platforms's previous quarterly dividend of $0.50. Meta Platforms's dividend payout ratio (DPR) is 8.78%.
Wall Street Analyst Weigh In
Several analysts have recently commented on the company. Citigroup raised their target price on Meta Platforms from $753.00 to $780.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. Oppenheimer upped their target price on Meta Platforms from $650.00 to $800.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Tigress Financial restated a "strong-buy" rating on shares of Meta Platforms in a report on Tuesday, February 11th. Arete Research upgraded Meta Platforms to a "hold" rating in a report on Friday, January 24th. Finally, The Goldman Sachs Group lifted their price target on shares of Meta Platforms from $688.00 to $765.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $719.26.
Read Our Latest Research Report on META
Insider Buying and Selling at Meta Platforms
In other news, COO Javier Olivan sold 413 shares of the business's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $577.49, for a total value of $238,503.37. Following the transaction, the chief operating officer now directly owns 19,166 shares in the company, valued at $11,068,173.34. The trade was a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 35,921 shares of Meta Platforms stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $607.97, for a total transaction of $21,838,890.37. The disclosure for this sale can be found here. In the last three months, insiders have sold 812,422 shares of company stock worth $525,534,818. Insiders own 13.71% of the company's stock.
Meta Platforms Company Profile
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Free Report)
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.
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