Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Brookstone Capital Management

Brookstone Capital Management boosted its stake in Meta Platforms, Inc. (NASDAQ:META) by 5.0% during the 1st quarter, Holdings Channel reports. The institutional investor owned 30,633 shares of the social networking company’s stock after acquiring an additional 1,453 shares during the period. Brookstone Capital Management’s holdings in Meta Platforms were worth $14,875,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Trexquant Investment LP grew its holdings in shares of Meta Platforms by 24.3% in the third quarter. Trexquant Investment LP now owns 30,830 shares of the social networking company’s stock valued at $9,255,000 after purchasing an additional 6,019 shares in the last quarter. Private Advisory Group LLC grew its stake in Meta Platforms by 2.1% during the 3rd quarter. Private Advisory Group LLC now owns 66,307 shares of the social networking company’s stock worth $19,906,000 after purchasing an additional 1,388 shares in the last quarter. Bamco Inc. NY increased its holdings in Meta Platforms by 2.0% during the 3rd quarter. Bamco Inc. NY now owns 240,570 shares of the social networking company’s stock worth $72,222,000 after purchasing an additional 4,779 shares during the period. Tower Research Capital LLC TRC raised its position in Meta Platforms by 51.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 136,994 shares of the social networking company’s stock valued at $41,127,000 after purchasing an additional 46,292 shares in the last quarter. Finally, Staley Capital Advisers Inc. boosted its stake in shares of Meta Platforms by 1.9% in the 3rd quarter. Staley Capital Advisers Inc. now owns 1,975 shares of the social networking company’s stock valued at $593,000 after buying an additional 36 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Activity

In other news, COO Javier Olivan sold 412 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $472.70, for a total transaction of $194,752.40. Following the completion of the transaction, the chief operating officer now owns 15,376 shares of the company’s stock, valued at approximately $7,268,235.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $496.99, for a total value of $449,775.95. Following the transaction, the insider now directly owns 38,750 shares in the company, valued at approximately $19,258,362.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Javier Olivan sold 412 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $472.70, for a total transaction of $194,752.40. Following the sale, the chief operating officer now directly owns 15,376 shares of the company’s stock, valued at approximately $7,268,235.20. The disclosure for this sale can be found here. Insiders sold a total of 233,512 shares of company stock valued at $113,597,536 over the last quarter. Company insiders own 13.71% of the company’s stock.

Meta Platforms Trading Up 1.3 %

Shares of Meta Platforms stock opened at $519.56 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. The business has a 50 day moving average price of $479.53 and a 200 day moving average price of $452.69. The company has a market capitalization of $1.32 trillion, a P/E ratio of 29.84, a P/E/G ratio of 1.33 and a beta of 1.21. Meta Platforms, Inc. has a 1 year low of $274.38 and a 1 year high of $531.49.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. The business had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. Sell-side analysts anticipate that Meta Platforms, Inc. will post 20.16 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.38%. The ex-dividend date was Friday, June 14th. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on META shares. Truist Financial cut their target price on shares of Meta Platforms from $550.00 to $535.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. The Goldman Sachs Group reduced their price objective on shares of Meta Platforms from $555.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Roth Mkm raised their price target on Meta Platforms from $500.00 to $510.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. lowered their price objective on Meta Platforms from $535.00 to $480.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. Finally, Royal Bank of Canada decreased their target price on Meta Platforms from $600.00 to $570.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $510.05.

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.