Meta Platforms, Inc. (NASDAQ:META) Stock Position Raised by Brookstone Capital Management

Brookstone Capital Management lifted its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 5.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,518 shares of the social networking company's stock after buying an additional 2,637 shares during the period. Brookstone Capital Management's holdings in Meta Platforms were worth $31,422,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of META. Inlight Wealth Management LLC acquired a new stake in Meta Platforms during the first quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in Meta Platforms during the first quarter valued at $28,000. Millstone Evans Group LLC acquired a new stake in Meta Platforms during the fourth quarter valued at $40,000. WealthTrak Capital Management LLC acquired a new stake in Meta Platforms during the fourth quarter valued at $43,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Meta Platforms during the fourth quarter valued at $45,000. Institutional investors and hedge funds own 79.91% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on META. Benchmark reduced their price target on Meta Platforms from $820.00 to $640.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Moffett Nathanson boosted their price target on Meta Platforms from $525.00 to $605.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Oppenheimer boosted their price target on Meta Platforms from $665.00 to $775.00 and gave the stock an "outperform" rating in a research report on Monday, June 16th. Monness Crespi & Hardt boosted their price target on Meta Platforms from $775.00 to $780.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Finally, Morgan Stanley boosted their price target on Meta Platforms from $615.00 to $650.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $724.98.

Meta Platforms Stock Up 0.3%

Shares of Meta Platforms stock opened at $720.67 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. The stock has a market capitalization of $1.81 trillion, a PE ratio of 28.11, a price-to-earnings-growth ratio of 1.76 and a beta of 1.28. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $747.90. The company has a 50-day simple moving average of $665.58 and a two-hundred day simple moving average of $631.83.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The firm had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. During the same period in the previous year, the business posted $4.71 earnings per share. The business's revenue for the quarter was up 16.1% on a year-over-year basis. On average, analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were given a dividend of $0.525 per share. The ex-dividend date was Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.29%. Meta Platforms's dividend payout ratio (DPR) is 8.19%.

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 519 shares of Meta Platforms stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $737.00, for a total transaction of $382,503.00. Following the transaction, the insider owned 27,626 shares of the company's stock, valued at $20,360,362. The trade was a 1.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Javier Olivan sold 517 shares of Meta Platforms stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $740.97, for a total transaction of $383,081.49. Following the transaction, the chief operating officer directly owned 7,853 shares in the company, valued at $5,818,837.41. This represents a 6.18% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 152,756 shares of company stock worth $104,720,878. 13.61% of the stock is owned by company insiders.

Meta Platforms 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.

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