Atlanta Consulting Group Advisors LLC Acquires 3,630 Shares of Meta Platforms, Inc. (NASDAQ:META)

Atlanta Consulting Group Advisors LLC boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 828.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,068 shares of the social networking company’s stock after purchasing an additional 3,630 shares during the period. Atlanta Consulting Group Advisors LLC’s holdings in Meta Platforms were worth $2,329,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. GoalVest Advisory LLC raised its stake in Meta Platforms by 25.2% during the third quarter. GoalVest Advisory LLC now owns 353 shares of the social networking company’s stock worth $202,000 after acquiring an additional 71 shares in the last quarter. Sawgrass Asset Management LLC grew its holdings in shares of Meta Platforms by 323.4% in the 3rd quarter. Sawgrass Asset Management LLC now owns 24,982 shares of the social networking company’s stock worth $14,301,000 after purchasing an additional 19,082 shares during the last quarter. Sage Advisors LLC increased its position in shares of Meta Platforms by 3.2% during the 3rd quarter. Sage Advisors LLC now owns 2,103 shares of the social networking company’s stock worth $1,204,000 after purchasing an additional 65 shares in the last quarter. Schear Investment Advisers LLC lifted its holdings in Meta Platforms by 13.8% during the 3rd quarter. Schear Investment Advisers LLC now owns 7,524 shares of the social networking company’s stock valued at $4,307,000 after purchasing an additional 912 shares during the last quarter. Finally, WESPAC Advisors SoCal LLC boosted its position in Meta Platforms by 4.1% in the third quarter. WESPAC Advisors SoCal LLC now owns 3,517 shares of the social networking company’s stock valued at $2,013,000 after buying an additional 140 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on META shares. TD Cowen lifted their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a research report on Thursday, October 31st. KeyCorp increased their target price on Meta Platforms from $560.00 to $655.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Guggenheim lifted their price target on Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a report on Monday, October 7th. Finally, BMO Capital Markets upped their price target on shares of Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $634.10.

Meta Platforms Stock Up 1.2 %

Shares of META stock opened at $561.09 on Wednesday. Meta Platforms, Inc. has a 12-month low of $313.66 and a 12-month high of $602.95. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The firm has a fifty day moving average of $570.23 and a 200-day moving average of $522.73. The company has a market capitalization of $1.42 trillion, a price-to-earnings ratio of 26.43, a P/E/G ratio of 1.23 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The firm 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%. As a group, equities research analysts predict that Meta Platforms, Inc. will post 22.53 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

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

Insider Transactions at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $536.92, for a total value of $221,747.96. Following the sale, the chief operating officer now directly owns 14,424 shares in the company, valued at approximately $7,744,534.08. The trade was a 2.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark Zuckerberg sold 84 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $600.00, for a total transaction of $50,400.00. Following the transaction, the chief executive officer now owns 518,424 shares of the company’s stock, valued at approximately $311,054,400. This represents a 0.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 185,958 shares of company stock valued at $101,181,747 in the last ninety days. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms 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.