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

Brookstone Capital Management boosted its stake in shares of Meta Platforms, Inc. (NASDAQ:METAGet Rating) by 3.1% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 19,461 shares of the social networking company’s stock after purchasing an additional 588 shares during the period. Brookstone Capital Management’s holdings in Meta Platforms were worth $3,325,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new stake in Meta Platforms during the 4th quarter worth about $28,000. Disciplined Investments LLC grew its position in shares of Meta Platforms by 583.3% during the 1st quarter. Disciplined Investments LLC now owns 123 shares of the social networking company’s stock valued at $27,000 after acquiring an additional 105 shares during the period. Dravo Bay LLC acquired a new stake in shares of Meta Platforms during the 1st quarter valued at about $31,000. Comprehensive Financial Consultants Institutional Inc. acquired a new stake in shares of Meta Platforms during the 4th quarter valued at about $31,000. Finally, Advocacy Wealth Management Services LLC grew its position in shares of Meta Platforms by 65.9% during the 1st quarter. Advocacy Wealth Management Services LLC now owns 151 shares of the social networking company’s stock valued at $34,000 after acquiring an additional 60 shares during the period. 61.70% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Meta Platforms

In other news, CTO Andrew Bosworth sold 17,428 shares of Meta Platforms stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $176.48, for a total transaction of $3,075,693.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CTO Andrew Bosworth sold 17,428 shares of Meta Platforms stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $176.48, for a total transaction of $3,075,693.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David M. Wehner sold 1,222 shares of Meta Platforms stock in a transaction on Monday, August 15th. The stock was sold at an average price of $180.50, for a total transaction of $220,571.00. Following the sale, the chief financial officer now directly owns 14,660 shares of the company’s stock, valued at $2,646,130. The disclosure for this sale can be found here. In the last three months, insiders sold 47,592 shares of company stock valued at $8,461,259. Insiders own 13.59% of the company’s stock.

Wall Street Analysts Forecast Growth

META has been the topic of a number of analyst reports. Oppenheimer dropped their target price on Meta Platforms from $305.00 to $190.00 and set an “outperform” rating on the stock in a research report on Thursday, July 28th. Citigroup dropped their target price on Meta Platforms from $270.00 to $222.00 and set a “buy” rating on the stock in a research report on Thursday, July 28th. Piper Sandler dropped their target price on Meta Platforms from $190.00 to $175.00 and set a “neutral” rating on the stock in a research report on Monday, September 12th. DZ Bank lowered shares of Meta Platforms from a “hold” rating to a “sell” rating and set a $140.00 price target on the stock. in a research note on Tuesday, August 2nd. Finally, Moffett Nathanson decreased their price target on shares of Meta Platforms to $280.00 in a research note on Thursday, May 26th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, thirty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $254.46.

Meta Platforms Stock Up 1.2 %

NASDAQ:META opened at $148.02 on Tuesday. The company has a fifty day simple moving average of $166.50 and a two-hundred day simple moving average of $171.47. The company has a market cap of $397.81 billion, a price-to-earnings ratio of 12.26, a price-to-earnings-growth ratio of 1.88 and a beta of 1.30. Meta Platforms, Inc. has a 52 week low of $144.29 and a 52 week high of $361.03.

Meta Platforms (NASDAQ:METAGet Rating) last posted its quarterly earnings results on Wednesday, July 27th. The social networking company reported $2.46 EPS for the quarter, missing the consensus estimate of $2.50 by ($0.04). The business had revenue of $28.82 billion during the quarter, compared to analyst estimates of $28.95 billion. Meta Platforms had a return on equity of 26.52% and a net margin of 28.16%. The business’s revenue was down .9% on a year-over-year basis. During the same quarter last year, the firm earned $3.61 EPS. On average, analysts expect that Meta Platforms, Inc. will post 9.91 EPS for the current year.

About Meta Platforms

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Meta Platforms, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, wearables, and in-home devices worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment's products include Facebook, which enables people to share, 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, groups, and businesses across platforms and devices through chat, audio and video calls, and rooms; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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