Meta Platforms, Inc. $META Stock Holdings Raised by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp grew its stake in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 5.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 90,550 shares of the social networking company’s stock after purchasing an additional 4,811 shares during the quarter. Meta Platforms makes up approximately 1.3% of Atlantic Union Bankshares Corp’s holdings, making the stock its 15th biggest holding. Atlantic Union Bankshares Corp’s holdings in Meta Platforms were worth $66,498,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Brighton Jones LLC raised its position in shares of Meta Platforms by 1.7% during the 4th 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 in the last quarter. Revolve Wealth Partners LLC increased its stake in 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 purchasing an additional 875 shares during the last quarter. Headwater Capital Co Ltd increased its stake in Meta Platforms by 294.7% during the first quarter. Headwater Capital Co Ltd now owns 150,000 shares of the social networking company’s stock valued at $86,454,000 after purchasing an additional 112,000 shares during the last quarter. Dymon Asia Capital Singapore PTE. LTD. acquired a new stake in shares of Meta Platforms during the second quarter worth $213,000. Finally, Capital & Planning LLC bought a new position in shares of Meta Platforms in the 2nd quarter worth about $322,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Trading Down 1.0%

NASDAQ:META opened at $670.72 on Wednesday. The stock has a market cap of $1.70 trillion, a price-to-earnings ratio of 28.54, a PEG ratio of 1.16 and a beta of 1.28. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.60 and a current ratio of 2.60. Meta Platforms, Inc. has a 1 year low of $479.80 and a 1 year high of $796.25. The business has a fifty day moving average of $657.96 and a 200-day moving average of $694.43.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its quarterly earnings data on Wednesday, January 28th. The social networking company reported $8.88 earnings per share for the quarter, topping the consensus estimate of $8.16 by $0.72. The business had revenue of $59.89 billion during the quarter, compared to the consensus estimate of $58.33 billion. Meta Platforms had a net margin of 30.08% and a return on equity of 38.61%. The company’s quarterly revenue was up 23.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $8.02 earnings per share. Equities analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 23rd. Stockholders of record on Monday, December 15th were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, December 15th. Meta Platforms’s dividend payout ratio is currently 8.94%.

More Meta Platforms News

Here are the key news stories impacting Meta Platforms this week:

Insiders Place Their Bets

In other Meta Platforms news, COO Javier Olivan sold 2,610 shares of the stock in a transaction on Saturday, November 15th. The stock was sold at an average price of $609.46, for a total transaction of $1,590,690.60. Following the completion of the transaction, the chief operating officer directly owned 9,784 shares of the company’s stock, valued at approximately $5,962,956.64. This trade represents a 21.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert M. Kimmitt sold 600 shares of the business’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $609.35, for a total value of $365,610.00. Following the completion of the sale, the director directly owned 7,347 shares in the company, valued at $4,476,894.45. This represents a 7.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 38,561 shares of company stock valued at $23,673,584. 13.61% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of Meta Platforms from $754.00 to $849.00 and gave the company an “overweight” rating in a research report on Thursday, January 29th. Stifel Nicolaus upped their target price on Meta Platforms from $785.00 to $820.00 and gave the company a “buy” rating in a report on Thursday, January 29th. TD Cowen reiterated a “buy” rating on shares of Meta Platforms in a research report on Tuesday, January 13th. JPMorgan Chase & Co. boosted their price objective on Meta Platforms from $800.00 to $825.00 and gave the company an “overweight” rating in a research report on Thursday, January 29th. Finally, Scotiabank upped their price objective on Meta Platforms from $685.00 to $700.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 29th. Three investment analysts have rated the stock with a Strong Buy rating, forty have assigned a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $845.50.

Get Our Latest Report on META

About Meta Platforms

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

Further Reading

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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