OMNI 360 Wealth Inc. Invests $276,000 in Meta Platforms, Inc. (NASDAQ:META)

OMNI 360 Wealth Inc. bought a new position in Meta Platforms, Inc. (NASDAQ:META) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 569 shares of the social networking company’s stock, valued at approximately $276,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Meta Platforms by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock worth $65,960,215,000 after purchasing an additional 3,104,550 shares during the last quarter. Capital World Investors grew its position in shares of Meta Platforms by 2.5% during the 4th quarter. Capital World Investors now owns 38,054,513 shares of the social networking company’s stock valued at $13,469,906,000 after buying an additional 927,491 shares during the last quarter. Morgan Stanley grew its position in shares of Meta Platforms by 3.4% during the 3rd quarter. Morgan Stanley now owns 36,277,772 shares of the social networking company’s stock valued at $10,890,950,000 after buying an additional 1,184,978 shares during the last quarter. Capital International Investors grew its position in shares of Meta Platforms by 3.2% during the 4th quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock valued at $12,296,383,000 after buying an additional 1,083,719 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Meta Platforms during the 4th quarter valued at about $11,285,855,000. Institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Meta Platforms from $540.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Jefferies Financial Group lowered their price objective on shares of Meta Platforms from $585.00 to $540.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Stifel Nicolaus boosted their price objective on shares of Meta Platforms from $527.00 to $588.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Canaccord Genuity Group reduced their target price on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Finally, Wells Fargo & Company reduced their target price on shares of Meta Platforms from $609.00 to $600.00 and set an “overweight” rating for the company in a research note on Wednesday, April 3rd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average price target of $511.27.

Meta Platforms Stock Up 0.1 %

META stock opened at $509.96 on Friday. Meta Platforms, Inc. has a 12 month low of $274.38 and a 12 month high of $531.49. The firm has a market cap of $1.29 trillion, a PE ratio of 29.29, a P/E/G ratio of 1.32 and a beta of 1.21. The firm has a 50 day simple moving average of $482.42 and a 200 day simple moving average of $458.78. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The business had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Equities research analysts forecast that Meta Platforms, Inc. will post 20.16 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were issued 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 dividend payout ratio is currently 11.49%.

Insider Activity

In other news, CFO Susan J. Li sold 8,951 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total transaction of $4,223,529.35. Following the sale, the chief financial officer now owns 74,580 shares in the company, valued at $35,190,573. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Meta Platforms news, CFO Susan J. Li sold 8,951 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total value of $4,223,529.35. Following the transaction, the chief financial officer now owns 74,580 shares in the company, valued at approximately $35,190,573. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Sheryl Sandberg sold 105,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $476.71, for a total transaction of $50,054,550.00. Following the completion of the transaction, the director now owns 630,293 shares in the company, valued at approximately $300,466,976.03. The disclosure for this sale can be found here. Insiders have sold 251,905 shares of company stock worth $123,528,726 over the last 90 days. 13.71% of the stock is owned by company insiders.

Meta Platforms Profile

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.