Atlas Wealth LLC Sells 54 Shares of Meta Platforms, Inc. (NASDAQ:META)

Atlas Wealth LLC reduced its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,054 shares of the social networking company’s stock after selling 54 shares during the period. Meta Platforms accounts for approximately 0.8% of Atlas Wealth LLC’s portfolio, making the stock its 24th largest position. Atlas Wealth LLC’s holdings in Meta Platforms were worth $1,748,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. POM Investment Strategies LLC purchased a new position in shares of Meta Platforms during the second quarter valued at approximately $38,000. Ruedi Wealth Management Inc. increased its position in Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 44 shares during the period. Halpern Financial Inc. purchased a new stake in shares of Meta Platforms in the 3rd quarter worth about $46,000. West Financial Advisors LLC purchased a new position in shares of Meta Platforms during the third quarter valued at about $49,000. Finally, NewSquare Capital LLC lifted its holdings in Meta Platforms by 221.9% in the second quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock worth $52,000 after buying an additional 71 shares during the period. 79.91% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Mark Zuckerberg sold 84 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $600.00, for a total transaction of $50,400.00. Following the transaction, the chief executive officer now owns 518,424 shares of the company’s stock, valued at approximately $311,054,400. The trade was a 0.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Aaron Anderson sold 731 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $407,167.00. Following the completion of the sale, the chief accounting officer now owns 3,414 shares of the company’s stock, valued at approximately $1,901,598. This represents a 17.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 106,239 shares of company stock valued at $59,681,541 over the last ninety days. 13.71% of the stock is owned by insiders.

Meta Platforms Stock Performance

NASDAQ META opened at $574.32 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. Meta Platforms, Inc. has a 1-year low of $313.66 and a 1-year high of $602.95. The business has a 50 day simple moving average of $575.21 and a two-hundred day simple moving average of $527.76. The stock has a market capitalization of $1.45 trillion, a PE ratio of 27.05, a P/E/G ratio of 1.27 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results 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 net margin of 35.55% and a return on equity of 35.60%. The company had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. On average, research analysts predict that Meta Platforms, Inc. will post 22.62 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s payout ratio is 9.42%.

Analyst Ratings Changes

META has been the subject of a number of research analyst reports. DA Davidson began coverage on Meta Platforms in a research note on Tuesday, September 10th. They issued a “buy” rating and a $600.00 target price for the company. Bank of America increased their price target on shares of Meta Platforms from $630.00 to $660.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Barclays boosted their price objective on shares of Meta Platforms from $550.00 to $630.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Citigroup raised their target price on shares of Meta Platforms from $645.00 to $705.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Wells Fargo & Company dropped their price target on Meta Platforms from $652.00 to $641.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $634.71.

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.