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

Omnia Family Wealth LLC increased its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 22.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,139 shares of the social networking company's stock after purchasing an additional 770 shares during the period. Meta Platforms makes up 1.0% of Omnia Family Wealth LLC's portfolio, making the stock its 17th largest holding. Omnia Family Wealth LLC's holdings in Meta Platforms were worth $2,386,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in META. Inlight Wealth Management LLC purchased a new position in shares of Meta Platforms during the 1st quarter worth about $25,000. Millstone Evans Group LLC purchased a new position in shares of Meta Platforms during the 4th quarter worth about $40,000. WealthTrak Capital Management LLC purchased a new position in shares of Meta Platforms during the 4th quarter worth about $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Meta Platforms during the 4th quarter worth about $45,000. Finally, JCIC Asset Management Inc. boosted its stake in shares of Meta Platforms by 102.6% during the 1st quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company's stock worth $46,000 after purchasing an additional 40 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Stock Up 1.0%

Shares of NASDAQ META opened at $733.63 on Friday. The company's 50-day simple moving average is $638.51 and its 200-day simple moving average is $626.48. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $740.91. The firm has a market cap of $1.84 trillion, a price-to-earnings ratio of 28.61, a price-to-earnings-growth ratio of 1.81 and a beta of 1.26. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META - Get Free Report) last posted 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. The firm had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The company's revenue for the quarter was up 16.1% on a year-over-year basis. During the same period last year, the firm posted $4.71 earnings per share. Equities analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were paid a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.29%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms's dividend payout ratio is currently 8.19%.

Insider Transactions at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 406 shares of Meta Platforms stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $491.69, for a total transaction of $199,626.14. Following the transaction, the chief operating officer now directly owns 4,608 shares of the company's stock, valued at $2,265,707.52. The trade was a 8.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 13,793 shares of Meta Platforms stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $710.24, for a total transaction of $9,796,340.32. Following the transaction, the chief executive officer now directly owns 57,533 shares in the company, valued at $40,862,237.92. This trade represents a 19.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 124,831 shares of company stock valued at $83,868,872. Corporate insiders own 13.61% of the company's stock.

Analysts Set New Price Targets

META has been the subject of a number of research analyst reports. Piper Sandler reissued an "overweight" rating and issued a $808.00 price objective (up from $650.00) on shares of Meta Platforms in a research report on Friday. Needham & Company LLC reissued an "underperform" rating on shares of Meta Platforms in a research report on Thursday, May 1st. Loop Capital boosted their price objective on shares of Meta Platforms from $695.00 to $888.00 and gave the company a "buy" rating in a research report on Friday, May 16th. UBS Group reissued a "buy" rating and issued a $812.00 price objective (up from $683.00) on shares of Meta Platforms in a research report on Thursday. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $740.00 price objective on shares of Meta Platforms in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $719.52.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.