OMNI 360 Wealth Inc. Raises Stake in Meta Platforms, Inc. (NASDAQ:META)

OMNI 360 Wealth Inc. lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 18.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 674 shares of the social networking company’s stock after acquiring an additional 105 shares during the period. OMNI 360 Wealth Inc.’s holdings in Meta Platforms were worth $340,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tennessee Valley Asset Management Partners raised its holdings in Meta Platforms by 0.6% in the 4th quarter. Tennessee Valley Asset Management Partners now owns 4,566 shares of the social networking company’s stock valued at $1,616,000 after buying an additional 27 shares during the period. Evolution Wealth Advisors LLC raised its stake in shares of Meta Platforms by 5.1% in the 4th quarter. Evolution Wealth Advisors LLC now owns 4,168 shares of the social networking company’s stock valued at $1,475,000 after acquiring an additional 204 shares during the period. Wetzel Investment Advisors Inc. acquired a new position in shares of Meta Platforms in the 4th quarter worth approximately $273,000. Kraft Davis & Associates LLC boosted its position in shares of Meta Platforms by 11.9% during the 4th quarter. Kraft Davis & Associates LLC now owns 1,798 shares of the social networking company’s stock worth $636,000 after purchasing an additional 191 shares during the period. Finally, Castle Wealth Management LLC increased its holdings in Meta Platforms by 2.4% in the 4th quarter. Castle Wealth Management LLC now owns 2,087 shares of the social networking company’s stock valued at $739,000 after purchasing an additional 49 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on META. TD Securities boosted their price objective on Meta Platforms from $530.00 to $600.00 in a report on Wednesday, July 10th. Royal Bank of Canada reissued an “outperform” rating and set a $570.00 price target on shares of Meta Platforms in a research report on Thursday, August 1st. Guggenheim lifted their price objective on shares of Meta Platforms from $500.00 to $600.00 and gave the company a “buy” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. upped their target price on shares of Meta Platforms from $480.00 to $610.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, Tigress Financial raised their price target on shares of Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-three have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $574.41.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $532.21, for a total transaction of $481,650.05. Following the completion of the sale, the insider now directly owns 41,437 shares of the company’s stock, valued at approximately $22,053,185.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $532.21, for a total transaction of $481,650.05. Following the completion of the transaction, the insider now owns 41,437 shares in the company, valued at approximately $22,053,185.77. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Susan J. Li sold 8,950 shares of Meta Platforms stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the completion of the sale, the chief financial officer now directly owns 74,579 shares in the company, valued at approximately $39,285,234.04. The disclosure for this sale can be found here. Insiders have sold a total of 384,783 shares of company stock valued at $194,001,589 over the last quarter. 13.71% of the stock is currently owned by insiders.

Meta Platforms Trading Up 0.4 %

META opened at $529.28 on Tuesday. The company has a quick ratio of 2.68, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 52 week low of $276.03 and a 52 week high of $542.81. The business’s 50 day moving average is $501.01 and its two-hundred day moving average is $489.45. The firm has a market cap of $1.34 trillion, a price-to-earnings ratio of 30.40, a price-to-earnings-growth ratio of 1.27 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS 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 quarterly revenue was up 22.1% on a year-over-year basis. During the same period in the previous year, the company posted $3.23 EPS. On average, research analysts predict that Meta Platforms, Inc. will post 20.5 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date was Friday, June 14th. Meta Platforms’s dividend payout ratio is currently 11.49%.

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.