Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Atomi Financial Group Inc.

Atomi Financial Group Inc. grew its stake in Meta Platforms, Inc. (NASDAQ:META) by 6.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 65,925 shares of the social networking company’s stock after buying an additional 4,122 shares during the period. Meta Platforms makes up 1.9% of Atomi Financial Group Inc.’s investment portfolio, making the stock its 6th biggest position. Atomi Financial Group Inc.’s holdings in Meta Platforms were worth $38,600,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in META. JDM Financial Group LLC acquired a new stake in Meta Platforms during the third quarter worth approximately $30,000. Safe Harbor Fiduciary LLC acquired a new stake in Meta Platforms during the third quarter worth approximately $36,000. Avondale Wealth Management acquired a new stake in Meta Platforms during the fourth quarter worth approximately $41,000. Halpern Financial Inc. acquired a new stake in Meta Platforms during the third quarter worth approximately $46,000. Finally, West Financial Advisors LLC acquired a new stake in Meta Platforms during the third quarter worth approximately $49,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Piper Sandler raised their target price on Meta Platforms from $650.00 to $670.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Wolfe Research raised their target price on Meta Platforms from $670.00 to $730.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Robert W. Baird increased their price target on Meta Platforms from $605.00 to $630.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Rosenblatt Securities reiterated a “buy” rating and issued a $811.00 price target on shares of Meta Platforms in a report on Thursday, October 31st. Finally, Mizuho increased their price target on Meta Platforms from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Two 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $654.20.

Meta Platforms Stock Performance

NASDAQ:META opened at $636.45 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The business has a fifty day simple moving average of $600.06 and a two-hundred day simple moving average of $559.30. Meta Platforms, Inc. has a 1 year low of $385.66 and a 1 year high of $638.40. The company has a market capitalization of $1.61 trillion, a P/E ratio of 29.98, a P/E/G ratio of 1.16 and a beta of 1.19.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The company had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. On average, analysts expect that Meta Platforms, Inc. will post 22.96 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were given a $0.50 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.31%. Meta Platforms’s dividend payout ratio (DPR) is currently 9.42%.

Insider Activity at Meta Platforms

In other news, CAO Aaron Anderson sold 731 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $557.00, for a total transaction of $407,167.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,414 shares in the company, valued at $1,901,598. The trade was a 17.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Nicholas Clegg sold 7,296 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $553.48, for a total value of $4,038,190.08. Following the completion of the sale, the insider now owns 38,695 shares in the company, valued at $21,416,908.60. This trade represents a 15.86 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 568,016 shares of company stock valued at $346,031,180. Corporate insiders own 13.71% of the company’s stock.

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.