Stonebrook Private Inc. Buys 319 Shares of Meta Platforms, Inc. (NASDAQ:META)

Stonebrook Private Inc. grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 6.8% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 5,016 shares of the social networking company’s stock after acquiring an additional 319 shares during the quarter. Stonebrook Private Inc.’s holdings in Meta Platforms were worth $2,871,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of META. International Assets Investment Management LLC lifted its position in shares of Meta Platforms by 57,001.5% during the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after buying an additional 9,500,444 shares during the last quarter. Integrated Investment Consultants LLC raised its stake in Meta Platforms by 61,769.3% during the third quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock worth $2,365,820,000 after acquiring an additional 4,126,190 shares in the last quarter. Sustainable Growth Advisers LP bought a new position in shares of Meta Platforms in the second quarter worth about $595,152,000. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Meta Platforms by 926.6% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 733,358 shares of the social networking company’s stock valued at $369,774,000 after purchasing an additional 661,923 shares in the last quarter. Finally, Manning & Napier Advisors LLC bought a new stake in shares of Meta Platforms during the 2nd quarter valued at approximately $285,690,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Aaron Anderson sold 731 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $557.00, for a total value of $407,167.00. Following the sale, the chief accounting officer now directly owns 3,414 shares of the company’s stock, valued at approximately $1,901,598. This represents a 17.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Javier Olivan sold 620 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $345,340.00. Following the completion of the transaction, the chief operating officer now directly owns 19,992 shares of the company’s stock, valued at approximately $11,135,544. This trade represents a 3.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 152,141 shares of company stock worth $83,390,497 over the last 90 days. 13.71% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

META has been the subject of several research reports. Pivotal Research increased their price objective on shares of Meta Platforms from $780.00 to $800.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Monness Crespi & Hardt raised their price objective on Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Jefferies Financial Group boosted their price objective on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $570.00 target price on shares of Meta Platforms in a research report on Thursday, August 1st. Finally, Wells Fargo & Company reduced their price target on Meta Platforms from $652.00 to $641.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus price target of $634.10.

Meta Platforms Price Performance

META stock opened at $559.14 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. Meta Platforms, Inc. has a 1 year low of $313.66 and a 1 year high of $602.95. The business has a 50 day simple moving average of $572.74 and a 200-day simple moving average of $524.71. The firm has a market capitalization of $1.41 trillion, a PE ratio of 26.34, a price-to-earnings-growth ratio of 1.25 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.19 by $0.84. The firm had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Equities research analysts anticipate that Meta Platforms, Inc. will post 22.53 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, September 26th. Shareholders of record on Monday, September 16th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is 9.42%.

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.