Meta Platforms, Inc. (NASDAQ:META) Stake was raised by OMC Financial Services LTD

VaselineAugust 31, 2024

0 5 minutes read

OMC Financial Services LTD increased its holdings in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 7.0% during the second quarter, HoldingsChannel reports. The firm owned 9,600 shares of the social networking company’s stock after purchasing an additional 631 shares during the period. Meta Platforms comprises approximately 2.3% of OMC Financial Services LTD’s investment portfolio, making the stock its 10th biggest holding. OMC Financial Services LTD’s holdings in Meta Platforms were worth $4,840,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in META. Vanguard Group Inc. grew its position in Meta Platforms by 0.4% in the first quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock valued at $90,891,055,000 after buying an additional 831,047 shares in the last quarter. Capital World Investors boosted its holdings in shares of Meta Platforms by 0.6% in the first quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock valued at $18,597,382,000 after acquiring an additional 244,803 shares in the last quarter. Capital International Investors boosted its holdings in shares of Meta Platforms by 3.2% in the fourth quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock valued at $12,296,383,000 after purchasing an additional 1,083,719 shares in the last quarter. Capital Research Global Investors raised its stake in shares of Meta Platforms by 14.5% in the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock worth $16,799,612,000 after acquiring an additional 4,379,826 shares during the period. Finally, Norges Bank purchased a new position in Meta Platforms during the fourth quarter valued at approximately $11,285,855,000. 79.91% of shares are held by hedge funds and other institutional investors.

Analysts set new price targets

Several equities analysts have issued reports on META shares. Guggenheim boosted their target price on Meta Platforms from $500.00 to $600.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Roth Mkm boosted their price objective on Meta Platforms from $510.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Piper Sandler boosted their price objective on Meta Platforms from $545.00 to $575.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Wolfe Research started 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. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $570.00 target price on shares of Meta Platforms in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have given a hold rating, thirty-two have assigned a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Moderate Buy” and a consensus price target of $574.41, according to MarketBeat.com.

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Meta platform trading up 0.6%

Shares of META opened at $521.31 on Friday. Meta Platforms, Inc. it has a fifty-two week low of $279.40 and a fifty-two week high of $544.23. The company has a market cap of $1.32 trillion, a PE ratio of 29.94, a price-to-earnings-growth ratio of 1.27 and a beta of 1.21. The stock has a fifty day moving average of $504.85 and a two hundred day moving average of $492.74. 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 – Get Free Report ) last released its earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The firm had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. During the same period last year, the firm posted earnings per share of $3.23. The company’s quarterly revenue was up 22.1% compared to the same quarter last year. As a group, analysts estimate that Meta Platforms, Inc. will post 20.5 EPS for the current year.

Transactions within meta platforms

In related news, CEO Mark Zuckerberg sold 2,011 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $500.92, for a total value of $1,007,350.12. Following the completion of the sale, the chief executive officer now directly owns 318,932 shares in the company, valued at $159,759,417.44. The transaction was disclosed in a legal filing with the SEC, which is available on the SEC’s website. In related news, CEO Mark Zuckerberg sold 2,011 shares of Meta Platforms stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $500.92, for a total value of $1,007,350.12. Following the transaction, the chief executive officer now owns 318,932 shares in the company, valued at $159,759,417.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this hyperlink. Also, COO Javier Olivan sold 412 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $492.98, for a total value of $203,107.76. Following the sale, the chief operating officer now directly owns 8,443 shares of the company’s stock, valued at approximately $4,162,230.14. The disclosure for this sale can be found here. Insiders have sold a total of 388,078 shares of company stock worth $200,792,168 in the last three months. Company insiders own 13.71% of the company’s shares.

Meta Platforms Company Profile

(Free report)

Meta Platforms, Inc is committed to developing products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets and wearables around the world. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which allows people to share, chat, discover and connect with interests; Instagram, a community for sharing photos, videos and private messages, as well as feeds, stories, movies, videos, live and shops; Messenger, a messaging app for people to connect with friends, family, communities and businesses across platforms and devices through text, audio and video calls; and WhatsApp, a messaging app that is used by people and businesses to communicate and transact privately.