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

Brookwood Investment Group LLC purchased a new position in Meta Platforms, Inc. (NASDAQ:META) in the first quarter, Holdings Channel reports. The fund purchased 16,422 shares of the social networking company’s stock, valued at approximately $9,465,000. Meta Platforms comprises about 1.6% of Brookwood Investment Group LLC’s holdings, making the stock its 11th largest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in shares of Meta Platforms by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company’s stock worth $28,719,970,000 after purchasing an additional 1,020,519 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Meta Platforms by 2.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company’s stock worth $24,777,282,000 after acquiring an additional 1,049,121 shares in the last quarter. Capital World Investors increased its holdings in shares of Meta Platforms by 2.9% in the 4th quarter. Capital World Investors now owns 40,317,105 shares of the social networking company’s stock valued at $23,606,338,000 after acquiring an additional 1,141,355 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Meta Platforms by 67,172.9% during the 1st quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company’s stock worth $13,517,178,000 after acquiring an additional 23,417,803 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Meta Platforms by 13.5% during the fourth quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company’s stock worth $13,727,613,000 after purchasing an additional 2,787,832 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 2,361 shares of the business’s stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $716.48, for a total value of $1,691,609.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert M. Kimmitt sold 465 shares of the stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $723.08, for a total value of $336,232.20. Following the sale, the director directly owned 9,342 shares in the company, valued at approximately $6,755,013.36. The trade was a 4.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 151,944 shares of company stock valued at $104,965,570 over the last three months. Company insiders own 13.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Susquehanna dropped their price target on shares of Meta Platforms from $800.00 to $700.00 and set a “positive” rating on the stock in a research note on Thursday, May 1st. Needham & Company LLC raised shares of Meta Platforms from an “underperform” rating to a “hold” rating in a research report on Thursday, July 3rd. JMP Securities reiterated a “market outperform” rating and set a $750.00 price target on shares of Meta Platforms in a research note on Wednesday, April 30th. Moffett Nathanson upped their price objective on shares of Meta Platforms from $525.00 to $605.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Finally, Robert W. Baird upped their target price on Meta Platforms from $635.00 to $740.00 and gave the company an “outperform” rating in a research report on Wednesday, July 2nd. Five investment analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $754.07.

Meta Platforms Stock Performance

Shares of META stock opened at $717.63 on Tuesday. The stock has a fifty day moving average price of $694.03 and a 200 day moving average price of $642.71. 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 cap of $1.80 trillion, a PE ratio of 27.99, a P/E/G ratio of 1.71 and a beta of 1.28. Meta Platforms, Inc. has a 1 year low of $450.80 and a 1 year high of $747.90.

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

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders 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 annualized dividend and a dividend yield of 0.29%. Meta Platforms’s dividend payout ratio is presently 8.19%.

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.