Atticus Wealth Management LLC Buys 306 Shares of Meta Platforms, Inc. (NASDAQ:META)

Atticus Wealth Management LLC grew its stake in Meta Platforms, Inc. (NASDAQ:META) by 34.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,182 shares of the social networking company’s stock after purchasing an additional 306 shares during the period. Atticus Wealth Management LLC’s holdings in Meta Platforms were worth $574,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Beaird Harris Wealth Management LLC lifted its stake in shares of Meta Platforms by 68.9% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after acquiring an additional 42 shares during the last quarter. Quest Partners LLC purchased a new position in Meta Platforms during the 4th quarter worth $32,000. Clear Investment Research LLC increased its holdings in Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after purchasing an additional 74 shares during the period. Cranbrook Wealth Management LLC increased its holdings in Meta Platforms by 80.4% during the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after purchasing an additional 45 shares during the period. Finally, Gilfoyle & Co LLC purchased a new position in Meta Platforms during the 4th quarter worth $39,000. 79.91% of the stock is owned by institutional investors.

Meta Platforms Stock Performance

NASDAQ META opened at $504.22 on Monday. The stock has a market capitalization of $1.28 trillion, a price-to-earnings ratio of 28.96, a PEG ratio of 1.31 and a beta of 1.21. Meta Platforms, Inc. has a twelve month low of $274.38 and a twelve month high of $531.49. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The stock has a 50-day moving average of $480.00 and a 200 day moving average of $455.62.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. The company had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. Sell-side analysts anticipate that Meta Platforms, Inc. will post 20.16 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were issued a $0.50 dividend. The ex-dividend date was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a yield of 0.40%. Meta Platforms’s payout ratio is 11.49%.

Wall Street Analysts Forecast Growth

Several research firms have commented on META. Barclays reduced their price objective on Meta Platforms from $550.00 to $520.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Citigroup reduced their price objective on Meta Platforms from $590.00 to $550.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Guggenheim reduced their price objective on Meta Platforms from $520.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Truist Financial cut their price target on Meta Platforms from $550.00 to $535.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Finally, Wells Fargo & Company cut their price target on Meta Platforms from $609.00 to $600.00 and set an “overweight” rating on the stock in a report on Wednesday, April 3rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and an average target price of $510.05.

Insider Buying and Selling

In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $510.88, for a total transaction of $8,532,717.76. Following the completion of the sale, the chief executive officer now directly owns 230,461 shares in the company, valued at approximately $117,737,915.68. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $510.88, for a total transaction of $8,532,717.76. Following the completion of the sale, the chief executive officer now directly owns 230,461 shares in the company, valued at approximately $117,737,915.68. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $485.00, for a total value of $283,725.00. Following the sale, the insider now owns 38,983 shares of the company’s stock, valued at $18,906,755. The disclosure for this sale can be found here. In the last 90 days, insiders sold 201,557 shares of company stock valued at $97,894,296. 13.71% of the stock is owned by company insiders.

About Meta Platforms

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.