429 Shares in Meta Platforms, Inc. (NASDAQ:META) Bought by Alpha Omega Wealth Management LLC

Alpha Omega Wealth Management LLC acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 429 shares of the social networking company’s stock, valued at approximately $247,000.

Several other hedge funds also recently added to or reduced their stakes in META. Millstone Evans Group LLC acquired a new position in shares of Meta Platforms in the fourth quarter valued at about $40,000. WealthTrak Capital Management LLC acquired a new position in shares of Meta Platforms in the fourth quarter valued at about $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Meta Platforms in the fourth quarter valued at about $45,000. Stuart Chaussee & Associates Inc. acquired a new position in shares of Meta Platforms in the fourth quarter valued at about $47,000. Finally, Principia Wealth Advisory LLC increased its holdings in shares of Meta Platforms by 53.6% in the first quarter. Principia Wealth Advisory LLC now owns 86 shares of the social networking company’s stock valued at $50,000 after purchasing an additional 30 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CTO Andrew Bosworth sold 22,449 shares of Meta Platforms stock in a transaction on Friday, May 16th. The stock was sold at an average price of $636.85, for a total value of $14,296,645.65. Following the completion of the sale, the chief technology officer now directly owns 1,183 shares of the company’s stock, valued at approximately $753,393.55. The trade was a 94.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Javier Olivan sold 406 shares of Meta Platforms stock in a transaction on Monday, April 21st. The shares were sold at an average price of $491.69, for a total value of $199,626.14. Following the completion of the sale, 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 85,682 shares of company stock valued at $56,014,018. 13.61% of the stock is currently owned by corporate insiders.

Meta Platforms Price Performance

META stock opened at $694.14 on Thursday. The business has a fifty day moving average of $597.08 and a two-hundred day moving average of $617.62. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The stock has a market cap of $1.75 trillion, a price-to-earnings ratio of 29.02, a price-to-earnings-growth ratio of 1.42 and a beta of 1.26. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $740.91.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.33 by $1.10. The company had revenue of $42.31 billion during the quarter, compared to analysts’ expectations of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the firm earned $4.71 earnings per share. As a group, research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be paid a $0.525 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.30%. Meta Platforms’s payout ratio is presently 8.19%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on META shares. Bank of America increased their price objective on Meta Platforms from $640.00 to $690.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $740.00 target price on shares of Meta Platforms in a report on Thursday, May 1st. TD Securities dropped their target price on Meta Platforms from $725.00 to $700.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Roth Capital raised 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, The Goldman Sachs Group raised their target price on Meta Platforms from $685.00 to $690.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $702.48.

View Our Latest Research Report on Meta Platforms

Meta Platforms Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:METAFree Report).

Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

Receive News & Ratings for Meta Platforms Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meta Platforms and related companies with MarketBeat.com's FREE daily email newsletter.