OMC Financial Services LTD Buys New Stake in Meta Platforms, Inc. (NASDAQ:META)

OMC Financial Services LTD purchased a new position in shares of Meta Platforms, Inc. (NASDAQ:META) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 8,969 shares of the social networking company’s stock, valued at approximately $4,355,000. Meta Platforms accounts for about 2.2% of OMC Financial Services LTD’s investment portfolio, making the stock its 11th largest holding.

A number of other institutional investors have also modified their holdings of META. Quest Partners LLC acquired a new stake in shares of Meta Platforms during the 4th quarter valued at about $32,000. Clear Investment Research LLC lifted its position in shares of Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after buying an additional 74 shares in the last quarter. Delos Wealth Advisors LLC grew its stake in Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after acquiring an additional 58 shares during the period. Cranbrook Wealth Management LLC increased its holdings in Meta Platforms by 80.4% in the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after acquiring an additional 45 shares in the last quarter. Finally, Gilfoyle & Co LLC acquired a new position in Meta Platforms during the fourth quarter worth $39,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Activity

In other Meta Platforms news, insider Jennifer Newstead sold 576 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $466.33, for a total transaction of $268,606.08. Following the transaction, the insider now owns 36,067 shares in the company, valued at approximately $16,819,124.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Jennifer Newstead sold 576 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $466.33, for a total transaction of $268,606.08. Following the transaction, the insider now directly owns 36,067 shares of the company’s stock, valued at approximately $16,819,124.11. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Javier Olivan sold 412 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $472.70, for a total transaction of $194,752.40. Following the completion of the sale, the chief operating officer now owns 15,376 shares of the company’s stock, valued at approximately $7,268,235.20. The disclosure for this sale can be found here. Insiders have sold a total of 310,685 shares of company stock valued at $154,398,206 over the last quarter. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

NASDAQ META traded down $9.60 on Friday, reaching $488.14. The stock had a trading volume of 24,044,658 shares, compared to its average volume of 17,151,374. The stock has a market cap of $1.24 trillion, a P/E ratio of 28.04, a price-to-earnings-growth ratio of 1.27 and a beta of 1.21. Meta Platforms, Inc. has a 12-month low of $274.38 and a 12-month high of $542.81. The business’s 50-day moving average price is $494.09 and its 200 day moving average price is $479.09. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.83.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data 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. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. During the same period in the previous year, the business posted $3.23 earnings per share. Meta Platforms’s quarterly revenue was up 22.1% on a year-over-year basis. As a group, equities analysts expect that Meta Platforms, Inc. will post 20.5 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Bank of America increased their price objective on Meta Platforms from $550.00 to $563.00 and gave the company a “buy” rating in a research note on Thursday. BMO Capital Markets reiterated a “market perform” rating and issued a $450.00 target price on shares of Meta Platforms in a research report on Wednesday, June 12th. Wolfe Research began coverage on shares of Meta Platforms in a research report on Tuesday, July 16th. They set an “outperform” rating and a $620.00 price target on the stock. Guggenheim upped their price objective on shares of Meta Platforms from $500.00 to $600.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-three have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $571.84.

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.