Atria Wealth Solutions Inc. lessened its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 5.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 107,662 shares of the social networking company's stock after selling 6,209 shares during the quarter. Meta Platforms makes up about 0.7% of Atria Wealth Solutions Inc.'s holdings, making the stock its 20th largest position. Atria Wealth Solutions Inc.'s holdings in Meta Platforms were worth $62,052,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently modified their holdings of the company. Brighton Jones LLC increased its position in shares of Meta Platforms by 1.7% during the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock valued at $20,230,000 after acquiring an additional 570 shares during the last quarter. Revolve Wealth Partners LLC increased its position in shares of Meta Platforms by 10.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company's stock valued at $5,537,000 after acquiring an additional 875 shares during the last quarter. Bank Pictet & Cie Europe AG increased its position in shares of Meta Platforms by 3.5% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 221,459 shares of the social networking company's stock valued at $129,666,000 after acquiring an additional 7,587 shares during the last quarter. Highview Capital Management LLC DE increased its position in shares of Meta Platforms by 3.7% during the fourth quarter. Highview Capital Management LLC DE now owns 6,189 shares of the social networking company's stock valued at $3,624,000 after acquiring an additional 218 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $2,243,603,000. Institutional investors own 79.91% of the company's stock.
Insider Buying and Selling
In related news, CEO Mark Zuckerberg sold 15,847 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $753.43, for a total value of $11,939,605.21. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Christopher K. Cox sold 60,000 shares of the firm's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $775.95, for a total value of $46,557,000.00. Following the completion of the transaction, the insider directly owned 237,205 shares in the company, valued at approximately $184,059,219.75. This represents a 20.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 275,024 shares of company stock valued at $199,983,159. 13.61% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on the company. Bank of America increased their price target on Meta Platforms from $775.00 to $900.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. The Goldman Sachs Group raised their target price on Meta Platforms from $685.00 to $690.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. raised their target price on Meta Platforms from $795.00 to $875.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Morgan Stanley raised their target price on Meta Platforms from $750.00 to $850.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Finally, Pivotal Research raised their target price on Meta Platforms from $830.00 to $930.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Four investment analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $822.41.
Check Out Our Latest Research Report on META
Meta Platforms Price Performance
NASDAQ META opened at $769.30 on Friday. The business's fifty day moving average price is $714.53 and its 200-day moving average price is $651.01. The stock has a market capitalization of $1.93 trillion, a price-to-earnings ratio of 27.85, a PEG ratio of 1.58 and a beta of 1.27. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.97 and a quick ratio of 1.97. Meta Platforms, Inc. has a 1-year low of $479.80 and a 1-year high of $784.75.
Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The social networking company reported $7.14 earnings per share for the quarter, beating the consensus estimate of $5.75 by $1.39. The firm had revenue of $47.52 billion for the quarter, compared to analysts' expectations of $44.55 billion. Meta Platforms had a return on equity of 39.33% and a net margin of 39.99%. The company's revenue was up 21.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.16 EPS. On average, equities analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.
Meta Platforms Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms's dividend payout ratio (DPR) is currently 7.60%.
Meta Platforms Profile
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Free Report)
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.
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