Omnia Family Wealth LLC Boosts Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Omnia Family Wealth LLC boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 11.4% in the third quarter, Holdings Channel.com reports. The fund owned 3,294 shares of the social networking company’s stock after acquiring an additional 337 shares during the quarter. Meta Platforms comprises 0.8% of Omnia Family Wealth LLC’s portfolio, making the stock its 19th biggest holding. Omnia Family Wealth LLC’s holdings in Meta Platforms were worth $1,886,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of META. POM Investment Strategies LLC purchased a new stake in shares of Meta Platforms in the 2nd quarter worth $38,000. Ruedi Wealth Management Inc. lifted its holdings in shares of Meta Platforms by 122.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after buying an additional 44 shares during the period. Halpern Financial Inc. purchased a new stake in shares of Meta Platforms in the 3rd quarter worth $46,000. West Financial Advisors LLC purchased a new stake in shares of Meta Platforms in the 3rd quarter worth $49,000. Finally, NewSquare Capital LLC lifted its holdings in shares of Meta Platforms by 221.9% in the 2nd quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock worth $52,000 after buying an additional 71 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Down 4.0 %

Shares of META opened at $554.08 on Monday. Meta Platforms, Inc. has a 52 week low of $313.66 and a 52 week high of $602.95. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $1.40 trillion, a price-to-earnings ratio of 26.10, a PEG ratio of 1.23 and a beta of 1.22. The stock’s 50-day moving average price is $568.11 and its 200-day moving average price is $521.17.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The company had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. On average, sell-side analysts predict that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.36%. The ex-dividend date was Monday, September 16th. Meta Platforms’s payout ratio is currently 9.42%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a report on Thursday, October 31st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $670.00 target price on shares of Meta Platforms in a report on Wednesday, October 16th. Guggenheim boosted their price target on Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. JMP Securities boosted their price target on Meta Platforms from $635.00 to $660.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 31st. Finally, Robert W. Baird boosted their price target on Meta Platforms from $605.00 to $630.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and an average target price of $634.10.

Insider Buying and Selling at Meta Platforms

In other news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $507.63, for a total value of $459,405.15. Following the sale, the insider now directly owns 37,817 shares of the company’s stock, valued at $19,197,043.71. The trade was a 2.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Mark Zuckerberg sold 84 shares of Meta Platforms stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $600.00, for a total value of $50,400.00. Following the completion of the sale, the chief executive officer now directly owns 518,424 shares in the company, valued at $311,054,400. This represents a 0.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 141,498 shares of company stock valued at $75,732,154. Company insiders own 13.71% of the company’s stock.

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.