16,422 Shares in Meta Platforms, Inc. (NASDAQ:META) Purchased by Brookwood Investment Group LLC

Brookwood Investment Group LLC acquired a new position in Meta Platforms, Inc. (NASDAQ:META - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm acquired 16,422 shares of the social networking company's stock, valued at approximately $9,465,000. Meta Platforms accounts for 1.6% of Brookwood Investment Group LLC's investment portfolio, making the stock its 11th biggest holding.

A number of other large investors also recently modified their holdings of META. Brighton Jones LLC raised its holdings in shares of Meta Platforms by 1.7% in the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock worth $20,230,000 after purchasing an additional 570 shares during the period. Revolve Wealth Partners LLC raised its holdings in shares of Meta Platforms by 10.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company's stock worth $5,537,000 after purchasing an additional 875 shares during the period. Bank Pictet & Cie Europe AG raised its holdings in shares of Meta Platforms by 3.5% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 221,459 shares of the social networking company's stock worth $129,666,000 after purchasing an additional 7,587 shares during the period. Highview Capital Management LLC DE raised its holdings in shares of Meta Platforms by 3.7% in the 4th quarter. Highview Capital Management LLC DE now owns 6,189 shares of the social networking company's stock worth $3,624,000 after purchasing an additional 218 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Meta Platforms during the 4th quarter valued at about $2,243,603,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 519 shares of the business's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $719.86, for a total value of $373,607.34. Following the completion of the sale, the insider owned 25,550 shares of the company's stock, valued at $18,392,423. The trade was a 1.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert M. Kimmitt sold 465 shares of the business's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $723.08, for a total value of $336,232.20. Following the completion of the sale, the director directly owned 9,342 shares of the company's stock, valued at $6,755,013.36. This represents a 4.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold 152,980 shares of company stock worth $105,708,832 over the last ninety days. 13.61% of the stock is currently owned by corporate insiders.

Meta Platforms Stock Down 2.7%

NASDAQ META traded down $20.86 on Friday, reaching $752.58. The stock had a trading volume of 10,386,821 shares, compared to its average volume of 15,597,535. The business has a 50 day moving average price of $699.22 and a 200 day moving average price of $644.61. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 1 year low of $450.80 and a 1 year high of $784.75. The company has a market capitalization of $1.89 trillion, a price-to-earnings ratio of 27.31, a P/E/G ratio of 1.66 and a beta of 1.28.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its earnings results on Wednesday, July 30th. The social networking company reported $7.14 EPS for the quarter, beating analysts' consensus estimates of $5.75 by $1.39. Meta Platforms had a return on equity of 40.31% and a net margin of 39.99%. The firm had revenue of $47.52 billion for the quarter, compared to the consensus estimate of $44.55 billion. During the same quarter in the previous year, the company posted $5.16 earnings per share. The business's quarterly revenue was up 21.6% compared to the same quarter last year. On average, analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were given a $0.525 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. Meta Platforms's payout ratio is currently 8.19%.

Analysts Set New Price Targets

Several brokerages recently commented on META. Needham & Company LLC upgraded Meta Platforms from an "underperform" rating to a "hold" rating in a report on Thursday, July 3rd. Barclays raised their target price on Meta Platforms from $640.00 to $810.00 and gave the company an "overweight" rating in a report on Friday. Stifel Nicolaus raised their target price on Meta Platforms from $845.00 to $900.00 and gave the company a "buy" rating in a report on Thursday. 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. Finally, BMO Capital Markets raised their target price on Meta Platforms from $610.00 to $710.00 and gave the company a "market perform" rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating, forty have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $815.09.

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.