Atlas Wealth LLC Grows Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Atlas Wealth LLC grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 32.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,056 shares of the social networking company's stock after acquiring an additional 1,002 shares during the period. Meta Platforms accounts for approximately 0.9% of Atlas Wealth LLC's investment portfolio, making the stock its 28th biggest holding. Atlas Wealth LLC's holdings in Meta Platforms were worth $2,375,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. JDM Financial Group LLC bought a new stake in Meta Platforms in the 3rd quarter valued at about $30,000. Safe Harbor Fiduciary LLC acquired a new stake in Meta Platforms in the 3rd quarter valued at $36,000. Avondale Wealth Management bought a new stake in Meta Platforms during the 4th quarter valued at $41,000. Cordant Inc. bought a new stake in Meta Platforms during the 4th quarter valued at $59,000. Finally, 1620 Investment Advisors Inc. lifted its stake in shares of Meta Platforms by 271.0% in the fourth quarter. 1620 Investment Advisors Inc. now owns 115 shares of the social networking company's stock valued at $67,000 after buying an additional 84 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Meta Platforms Price Performance

Shares of Meta Platforms stock traded down $8.40 during trading on Thursday, hitting $602.58. The stock had a trading volume of 10,412,777 shares, compared to its average volume of 13,822,847. The firm has a market cap of $1.53 trillion, a price-to-earnings ratio of 25.19, a P/E/G ratio of 1.42 and a beta of 1.23. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The business's 50-day moving average is $656.12 and its 200 day moving average is $608.02. Meta Platforms, Inc. has a 12 month low of $414.50 and a 12 month high of $740.91.

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Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping analysts' consensus estimates of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same period last year, the business posted $5.33 EPS. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were paid a dividend of $0.525 per share. The ex-dividend date was Friday, March 14th. This is an increase from Meta Platforms's previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a dividend yield of 0.35%. Meta Platforms's dividend payout ratio (DPR) is 8.78%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Jefferies Financial Group boosted their target price on shares of Meta Platforms from $675.00 to $715.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Piper Sandler boosted their price objective on Meta Platforms from $670.00 to $775.00 and gave the stock an "overweight" rating in a report on Thursday, January 30th. DA Davidson raised their target price on Meta Platforms from $700.00 to $800.00 and gave the company a "buy" rating in a report on Thursday, January 30th. JMP Securities reaffirmed a "market outperform" rating and set a $750.00 target price on shares of Meta Platforms in a research report on Monday, January 27th. Finally, Raymond James reissued a "strong-buy" rating and issued a $800.00 price target (up from $725.00) on shares of Meta Platforms in a research report on Thursday, January 30th. Two investment 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 issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $718.31.

Insiders Place Their Bets

In related news, CEO Mark Zuckerberg sold 2,311 shares of the firm's stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $600.21, for a total value of $1,387,085.31. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Susan J. Li sold 8,553 shares of Meta Platforms stock in a transaction that occurred on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total value of $6,300,738.51. Following the completion of the sale, the chief financial officer now owns 51,793 shares in the company, valued at approximately $38,154,349.31. This represents a 14.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 586,213 shares of company stock valued at $387,084,349 over the last three months. Insiders own 13.71% of the company's stock.

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.