Alpha Omega Wealth Management LLC Invests $247,000 in Meta Platforms, Inc. (NASDAQ:META)

Alpha Omega Wealth Management LLC bought a new position in Meta Platforms, Inc. (NASDAQ:META - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 429 shares of the social networking company's stock, valued at approximately $247,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fjell Capital LLC bought a new position in shares of Meta Platforms during the fourth quarter valued at $1,836,000. Opulen Financial Group LLC bought a new position in Meta Platforms in the 4th quarter worth about $325,000. Daner Wealth Management LLC purchased a new stake in Meta Platforms during the 4th quarter valued at about $334,000. Appleton Partners Inc. MA grew its position in Meta Platforms by 3.7% during the 4th quarter. Appleton Partners Inc. MA now owns 26,312 shares of the social networking company's stock valued at $15,406,000 after purchasing an additional 951 shares during the last quarter. Finally, Brighton Jones LLC raised its holdings in Meta Platforms by 1.7% in the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock worth $20,230,000 after buying an additional 570 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on META shares. UBS Group increased their price target on shares of Meta Platforms from $650.00 to $683.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Bank of America upped their price objective on Meta Platforms from $690.00 to $765.00 and gave the company a "buy" rating in a research report on Thursday. JPMorgan Chase & Co. lifted their target price on Meta Platforms from $675.00 to $735.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. Roth Capital lifted their target price on Meta Platforms from $580.00 to $620.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Finally, Benchmark reduced their target price on Meta Platforms from $820.00 to $640.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms has a consensus rating of "Moderate Buy" and a consensus target price of $704.26.

Insider Activity

In other Meta Platforms news, CEO Mark Zuckerberg sold 7,802 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $701.96, for a total transaction of $5,476,691.92. Following the transaction, the chief executive officer now owns 110,477 shares in the company, valued at $77,550,434.92. The trade was a 6.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Javier Olivan sold 406 shares of the firm's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $491.69, for a total transaction of $199,626.14. Following the completion of the sale, the chief operating officer now owns 4,608 shares of the company's stock, valued at $2,265,707.52. This trade represents a 8.10% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 86,201 shares of company stock valued at $56,377,837. 13.61% of the stock is currently owned by insiders.

Meta Platforms Price Performance

Shares of NASDAQ:META traded down $0.78 during mid-day trading on Thursday, reaching $693.36. The stock had a trading volume of 7,303,916 shares, compared to its average volume of 14,503,798. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $740.91. The business's 50 day moving average price is $597.08 and its 200 day moving average price is $617.62. The company has a market cap of $1.74 trillion, a P/E ratio of 28.99, a price-to-earnings-growth ratio of 1.42 and a beta of 1.26.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The company had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. During the same quarter in the previous year, the business posted $4.71 earnings per share. Meta Platforms's quarterly revenue was up 16.1% on a year-over-year basis. Research analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be given a dividend of $0.525 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.30%. Meta Platforms's dividend payout ratio (DPR) is presently 8.19%.

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.