Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by OMNI 360 Wealth Inc.

OMNI 360 Wealth Inc. increased its stake in Meta Platforms, Inc. (NASDAQ:META) by 47.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 991 shares of the social networking company’s stock after buying an additional 317 shares during the quarter. OMNI 360 Wealth Inc.’s holdings in Meta Platforms were worth $567,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in Meta Platforms by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock valued at $90,891,055,000 after purchasing an additional 831,047 shares in the last quarter. Capital World Investors grew its stake in Meta Platforms by 0.6% during the 1st quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock valued at $18,597,382,000 after purchasing an additional 244,803 shares in the last quarter. Capital Research Global Investors grew its stake in Meta Platforms by 14.5% during the 1st quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock valued at $16,799,612,000 after purchasing an additional 4,379,826 shares in the last quarter. Jennison Associates LLC grew its stake in Meta Platforms by 24.7% during the 1st quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock valued at $6,733,731,000 after purchasing an additional 2,748,620 shares in the last quarter. Finally, GQG Partners LLC grew its stake in Meta Platforms by 3.1% during the 1st quarter. GQG Partners LLC now owns 11,497,335 shares of the social networking company’s stock valued at $5,582,876,000 after purchasing an additional 342,742 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Mizuho raised their price objective on Meta Platforms from $600.00 to $650.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Roth Mkm increased their target price on Meta Platforms from $550.00 to $620.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Monness Crespi & Hardt increased their target price on Meta Platforms from $570.00 to $620.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Citigroup increased their target price on Meta Platforms from $580.00 to $645.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Finally, Tigress Financial increased their target price on Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a report on Friday, August 16th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $621.63.

Insider Buying and Selling

In other news, insider Jennifer Newstead sold 901 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $451.15, for a total value of $406,486.15. Following the completion of the sale, the insider now owns 33,324 shares of the company’s stock, valued at $15,034,122.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, insider Jennifer Newstead sold 901 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $451.15, for a total value of $406,486.15. Following the completion of the sale, the insider now owns 33,324 shares of the company’s stock, valued at $15,034,122.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Susan J. Li sold 8,950 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $4,714,502.00. Following the completion of the sale, the chief financial officer now directly owns 74,579 shares of the company’s stock, valued at approximately $39,285,234.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 250,818 shares of company stock worth $132,569,993 in the last three months. 13.71% of the stock is currently owned by insiders.

Meta Platforms Stock Performance

Shares of NASDAQ META opened at $591.80 on Thursday. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $1.50 trillion, a price-to-earnings ratio of 33.99, a PEG ratio of 1.42 and a beta of 1.22. The stock’s fifty day simple moving average is $554.49 and its 200 day simple moving average is $512.18. Meta Platforms, Inc. has a 52-week low of $296.86 and a 52-week high of $602.95.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping 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 return on equity of 34.16% and a net margin of 34.34%. The company’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period in the previous year, the firm posted $3.23 EPS. As a group, sell-side analysts forecast that Meta Platforms, Inc. will post 21.44 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced 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 0.34%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s payout ratio is 11.49%.

Meta Platforms Company 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.