Brookstone Capital Management Increases Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Brookstone Capital Management boosted its stake in Meta Platforms, Inc. (NASDAQ:META) by 15.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,358 shares of the social networking company’s stock after acquiring an additional 6,384 shares during the period. Brookstone Capital Management’s holdings in Meta Platforms were worth $27,110,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Delos Wealth Advisors LLC lifted its position in Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after acquiring an additional 58 shares during the last quarter. POM Investment Strategies LLC purchased a new stake in Meta Platforms in the second quarter valued at $38,000. Ruedi Wealth Management Inc. lifted its position in Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after acquiring an additional 44 shares during the last quarter. Halpern Financial Inc. purchased a new stake in Meta Platforms in the third quarter valued at $46,000. Finally, Richardson Financial Services Inc. raised its holdings in shares of Meta Platforms by 95.6% in the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after buying an additional 43 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Meta Platforms news, COO Javier Olivan sold 413 shares of the stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $583.73, for a total transaction of $241,080.49. Following the transaction, the chief operating officer now owns 11,946 shares of the company’s stock, valued at $6,973,238.58. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Meta Platforms news, COO Javier Olivan sold 413 shares of the stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $583.73, for a total transaction of $241,080.49. Following the transaction, the chief operating officer now owns 11,946 shares of the company’s stock, valued at $6,973,238.58. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $501.42, for a total transaction of $453,785.10. Following the completion of the transaction, the insider now directly owns 36,035 shares in the company, valued at approximately $18,068,669.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 266,332 shares of company stock valued at $139,981,833 over the last quarter. Company insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

META has been the subject of a number of research reports. Roth Mkm upped their target price on shares of Meta Platforms from $510.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Morgan Stanley upped their target price on shares of Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Piper Sandler upped their target price on shares of Meta Platforms from $545.00 to $575.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Pivotal Research started coverage on shares of Meta Platforms in a report on Tuesday, October 1st. They issued a “buy” rating and a $780.00 target price for the company. Finally, Robert W. Baird boosted their price target on shares of Meta Platforms from $530.00 to $605.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $601.08.

Meta Platforms Stock Performance

Shares of META opened at $592.89 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The company has a market capitalization of $1.50 trillion, a price-to-earnings ratio of 34.05, a PEG ratio of 1.39 and a beta of 1.22. The company’s 50 day simple moving average is $532.05 and its 200 day simple moving average is $503.76. Meta Platforms, Inc. has a 1 year low of $279.40 and a 1 year high of $602.95.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. Meta Platforms’s revenue was up 22.1% on a year-over-year basis. During the same quarter last year, the firm posted $3.23 earnings per share. On average, sell-side analysts predict that Meta Platforms, Inc. will post 21.36 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is currently 11.49%.

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.