Atria Investments Inc Purchases 503 Shares of Meta Platforms, Inc. (NASDAQ:META)

Atria Investments Inc lifted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 0.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 121,019 shares of the social networking company’s stock after buying an additional 503 shares during the period. Meta Platforms comprises 0.9% of Atria Investments Inc’s holdings, making the stock its 11th largest holding. Atria Investments Inc’s holdings in Meta Platforms were worth $69,276,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Cypress Point Wealth Management LLC increased its position in shares of Meta Platforms by 39.4% during the 3rd quarter. Cypress Point Wealth Management LLC now owns 5,399 shares of the social networking company’s stock valued at $3,091,000 after purchasing an additional 1,526 shares during the last quarter. Objective Capital Management LLC bought a new position in Meta Platforms during the third quarter valued at $1,357,000. Lindbrook Capital LLC raised its stake in shares of Meta Platforms by 6.9% in the third quarter. Lindbrook Capital LLC now owns 16,321 shares of the social networking company’s stock valued at $9,343,000 after acquiring an additional 1,054 shares during the period. Bridges Investment Management Inc. lifted its holdings in shares of Meta Platforms by 0.4% in the 3rd quarter. Bridges Investment Management Inc. now owns 174,823 shares of the social networking company’s stock worth $100,076,000 after acquiring an additional 681 shares during the last quarter. Finally, Wealth Quarterback LLC boosted its stake in shares of Meta Platforms by 8.8% during the 3rd quarter. Wealth Quarterback LLC now owns 2,859 shares of the social networking company’s stock worth $1,637,000 after purchasing an additional 232 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Stock Performance

Shares of META stock opened at $584.82 on Wednesday. Meta Platforms, Inc. has a one year low of $313.66 and a one year high of $602.95. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The firm’s 50 day moving average price is $563.02 and its 200-day moving average price is $517.29. The firm has a market cap of $1.48 trillion, a P/E ratio of 27.55, a P/E/G ratio of 1.30 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.19 by $0.84. The firm had revenue of $40.59 billion for the quarter, compared to analyst estimates 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 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were issued a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. Meta Platforms’s payout ratio is 9.42%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on META shares. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research note on Thursday, October 31st. Robert W. Baird boosted their target price on shares of Meta Platforms from $605.00 to $630.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Jefferies Financial Group lifted their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Rosenblatt Securities restated a “buy” rating and issued a $811.00 target price on shares of Meta Platforms in a research note on Thursday, October 31st. Finally, Wedbush reaffirmed an “outperform” rating and set a $600.00 price target on shares of Meta Platforms in a research note on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $634.10.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $532.21, for a total transaction of $481,650.05. Following the completion of the sale, the insider now owns 41,437 shares in the company, valued at $22,053,185.77. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CTO Andrew Bosworth sold 5,057 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $2,663,825.32. Following the completion of the sale, the chief technology officer now directly owns 11,990 shares of the company’s stock, valued at approximately $6,315,852.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $532.21, for a total value of $481,650.05. Following the transaction, the insider now owns 41,437 shares in the company, valued at $22,053,185.77. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 194,714 shares of company stock valued at $103,811,069. 13.71% of the stock is currently owned by corporate 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.