Meta Platforms, Inc. (NASDAQ:META) is Atomi Financial Group Inc.’s 3rd Largest Position

Atomi Financial Group Inc. raised its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 27.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,169 shares of the social networking company’s stock after acquiring an additional 13,071 shares during the quarter. Meta Platforms makes up 2.3% of Atomi Financial Group Inc.’s portfolio, making the stock its 3rd largest holding. Atomi Financial Group Inc.’s holdings in Meta Platforms were worth $30,842,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Quest Partners LLC bought a new position in shares of Meta Platforms in the fourth quarter worth approximately $32,000. Clear Investment Research LLC lifted its stake in shares of Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after buying an additional 74 shares in the last quarter. Delos Wealth Advisors LLC lifted its stake in shares of Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after buying an additional 58 shares in the last quarter. POM Investment Strategies LLC purchased a new stake in Meta Platforms in the 2nd quarter worth $38,000. Finally, Ruedi Wealth Management Inc. raised its holdings in Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after acquiring an additional 44 shares during the period. Institutional investors own 79.91% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $531.46, for a total value of $8,876,444.92. Following the transaction, the chief executive officer now owns 11,384 shares in the company, valued at approximately $6,050,140.64. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CFO Susan J. Li sold 8,950 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the sale, the chief financial officer now directly owns 74,579 shares of the company’s stock, valued at $39,285,234.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $531.46, for a total value of $8,876,444.92. Following the completion of the transaction, the chief executive officer now directly owns 11,384 shares of the company’s stock, valued at $6,050,140.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 434,477 shares of company stock valued at $220,437,187. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Down 0.4 %

META stock traded down $2.02 during trading on Tuesday, hitting $519.10. 6,267,218 shares of the company’s stock traded hands, compared to its average volume of 16,120,813. The company has a quick ratio of 2.68, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $1.32 trillion, a P/E ratio of 30.01, a PEG ratio of 1.27 and a beta of 1.21. The business has a fifty day simple moving average of $503.25 and a two-hundred day simple moving average of $491.66. Meta Platforms, Inc. has a 1 year low of $279.40 and a 1 year high of $544.23.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The business had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company’s revenue was up 22.1% compared to the same quarter last year. During the same period last year, the business earned $3.23 EPS. Sell-side analysts anticipate that Meta Platforms, Inc. will post 20.5 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were paid a dividend of $0.50 per share. The ex-dividend date was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.39%. Meta Platforms’s payout ratio is 11.49%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on META. Rosenblatt Securities upped their price objective on Meta Platforms from $562.00 to $643.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Wells Fargo & Company upped their price target on Meta Platforms from $625.00 to $647.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Piper Sandler boosted their target price on shares of Meta Platforms from $545.00 to $575.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $570.00 target price on shares of Meta Platforms in a research note on Thursday, August 1st. Finally, Wedbush reiterated an “outperform” rating and issued a $570.00 price target on shares of Meta Platforms in a research note on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-three have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus target price of $574.41.

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.