Atlas Legacy Advisors LLC Takes $1.30 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Atlas Legacy Advisors LLC acquired a new stake in Meta Platforms, Inc. (NASDAQ:META) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,222 shares of the social networking company’s stock, valued at approximately $1,301,000.

A number of other large investors have also added to or reduced their stakes in the business. Seelaus Asset Management LLC raised its stake in shares of Meta Platforms by 0.9% during the fourth quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company’s stock valued at $960,000 after acquiring an additional 15 shares during the last quarter. Meredith Wealth Planning lifted its holdings in Meta Platforms by 0.8% during the 4th quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company’s stock worth $1,097,000 after buying an additional 15 shares during the period. Stephens Consulting LLC grew its position in shares of Meta Platforms by 5.3% in the 4th quarter. Stephens Consulting LLC now owns 317 shares of the social networking company’s stock valued at $186,000 after buying an additional 16 shares during the last quarter. VeraBank N.A. raised its position in shares of Meta Platforms by 0.8% during the fourth quarter. VeraBank N.A. now owns 1,954 shares of the social networking company’s stock worth $1,144,000 after acquiring an additional 16 shares during the last quarter. Finally, Lindenwold Advisors INC lifted its stake in shares of Meta Platforms by 0.3% in the third quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock worth $3,388,000 after acquiring an additional 17 shares during the period. Institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 921 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $736.07, for a total transaction of $677,920.47. Following the completion of the transaction, the insider now directly owns 35,787 shares of the company’s stock, valued at approximately $26,341,737.09. This represents a 2.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark Zuckerberg sold 55,589 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $717.72, for a total value of $39,897,337.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 812,422 shares of company stock worth $525,534,818. Insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on META shares. Wolfe Research increased their target price on shares of Meta Platforms from $670.00 to $730.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Jefferies Financial Group lifted their target price on shares of Meta Platforms from $675.00 to $715.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Oppenheimer boosted their target price on shares of Meta Platforms from $650.00 to $800.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Robert W. Baird increased their price target on Meta Platforms from $680.00 to $750.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Finally, KeyCorp boosted their price objective on Meta Platforms from $700.00 to $750.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $719.26.

Meta Platforms Price Performance

Meta Platforms stock opened at $668.13 on Tuesday. The stock has a market cap of $1.69 trillion, a P/E ratio of 27.93, a P/E/G ratio of 1.42 and a beta of 1.20. 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 company’s 50 day moving average price is $647.97 and its two-hundred day moving average price is $593.08. Meta Platforms, Inc. has a 52 week low of $414.50 and a 52 week high of $740.91.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same quarter last year, the company earned $5.33 EPS. On average, equities analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be given a dividend of $0.525 per share. The ex-dividend date is Friday, March 14th. This represents a $2.10 annualized dividend and a yield of 0.31%. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio is presently 8.78%.

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.