Atlanta Consulting Group Advisors LLC Sells 3,447 Shares of Meta Platforms, Inc. (NASDAQ:META)

Atlanta Consulting Group Advisors LLC trimmed its stake in Meta Platforms, Inc. (NASDAQ:META) by 84.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 621 shares of the social networking company’s stock after selling 3,447 shares during the quarter. Atlanta Consulting Group Advisors LLC’s holdings in Meta Platforms were worth $364,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Ballentine Partners LLC boosted its holdings in Meta Platforms by 1.4% in the fourth quarter. Ballentine Partners LLC now owns 58,218 shares of the social networking company’s stock worth $34,087,000 after acquiring an additional 808 shares in the last quarter. UMB Bank n.a. increased its stake in Meta Platforms by 0.6% during the 4th quarter. UMB Bank n.a. now owns 140,585 shares of the social networking company’s stock valued at $82,314,000 after purchasing an additional 897 shares in the last quarter. Brueske Advisory Services LLC acquired a new position in Meta Platforms during the fourth quarter worth $459,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Meta Platforms by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock valued at $7,915,451,000 after buying an additional 118,298 shares in the last quarter. Finally, Apollon Financial LLC increased its position in shares of Meta Platforms by 11.1% during the fourth quarter. Apollon Financial LLC now owns 1,479 shares of the social networking company’s stock worth $866,000 after acquiring an additional 148 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 5,060 shares of Meta Platforms stock in a transaction on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total transaction of $3,727,550.20. Following the completion of the transaction, the chief technology officer now owns 5,139 shares in the company, valued at approximately $3,785,747.13. The trade was a 49.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Javier Olivan sold 608 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $607.50, for a total value of $369,360.00. Following the completion of the sale, the chief operating officer now directly owns 7,446 shares in the company, valued at approximately $4,523,445. This represents a 7.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 632,023 shares of company stock valued at $414,734,884 in the last ninety days. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Price Performance

Shares of META stock opened at $584.06 on Thursday. The business’s fifty day moving average is $656.27 and its 200 day moving average is $604.69. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The stock has a market cap of $1.48 trillion, a price-to-earnings ratio of 24.42, a PEG ratio of 1.42 and a beta of 1.23. Meta Platforms, Inc. has a twelve month low of $414.50 and a twelve month high of $740.91.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, topping analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same period in the prior year, the firm posted $5.33 EPS. Research analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.36%. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, March 14th. Meta Platforms’s dividend payout ratio (DPR) is presently 8.78%.

Analysts Set New Price Targets

A number of brokerages have commented on META. Susquehanna boosted their price objective on Meta Platforms from $675.00 to $800.00 and gave the stock a “positive” rating in a report on Thursday, January 30th. Pivotal Research increased their price target on Meta Platforms from $800.00 to $875.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Scotiabank upped their target price on shares of Meta Platforms from $583.00 to $627.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 30th. Wells Fargo & Company boosted their price target on shares of Meta Platforms from $685.00 to $752.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Finally, Citigroup lifted their target price on shares of Meta Platforms from $753.00 to $780.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Two equities 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus target price of $718.31.

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.