Atlas Wealth LLC Has $1.75 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Atlas Wealth LLC trimmed its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,054 shares of the social networking company’s stock after selling 54 shares during the quarter. Meta Platforms comprises about 0.8% of Atlas Wealth LLC’s investment portfolio, making the stock its 24th largest holding. Atlas Wealth LLC’s holdings in Meta Platforms were worth $1,748,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. POM Investment Strategies LLC acquired a new stake in shares of Meta Platforms in the second quarter valued at approximately $38,000. Ruedi Wealth Management Inc. lifted its position in shares of Meta Platforms by 122.2% during 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 stake in shares of Meta Platforms during the 3rd quarter valued at $46,000. West Financial Advisors LLC acquired a new stake in shares of Meta Platforms during the 3rd quarter worth $49,000. Finally, NewSquare Capital LLC increased its position in shares of Meta Platforms by 221.9% in the second quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock worth $52,000 after purchasing an additional 71 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insiders Place Their Bets

In related news, COO Javier Olivan sold 413 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $522.00, for a total value of $215,586.00. Following the completion of the transaction, the chief operating officer now directly owns 13,598 shares in the company, valued at approximately $7,098,156. The trade was a 2.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $565.30, for a total value of $511,596.50. Following the completion of the transaction, the insider now owns 37,790 shares of the company’s stock, valued at $21,362,687. The trade was a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 106,239 shares of company stock worth $59,681,541 in the last three months. 13.71% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

META has been the topic of a number of analyst reports. DA Davidson began coverage on shares of Meta Platforms in a research note on Tuesday, September 10th. They set a “buy” rating and a $600.00 price objective on the stock. Guggenheim lifted their price objective on shares of Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a research note on Monday, October 7th. The Goldman Sachs Group upped their target price on Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Hsbc Global Res raised shares of Meta Platforms to a “hold” rating in a report on Thursday, October 24th. Finally, Sanford C. Bernstein increased their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and an average price target of $634.71.

Meta Platforms Stock Up 0.9 %

Meta Platforms stock opened at $574.32 on Monday. The firm has a 50 day simple moving average of $575.21 and a 200 day simple moving average of $527.76. 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 1-year low of $313.66 and a 1-year high of $602.95. The firm has a market capitalization of $1.45 trillion, a price-to-earnings ratio of 27.05, a P/E/G ratio of 1.27 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last announced its quarterly 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 analysts’ expectations of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. On average, analysts predict that Meta Platforms, Inc. will post 22.62 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

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.