Hollow Brook Wealth Management LLC Invests $425,000 in Meta Platforms, Inc. (NASDAQ:META)

Hollow Brook Wealth Management LLC acquired a new stake in Meta Platforms, Inc. (NASDAQ:META) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 742 shares of the social networking company’s stock, valued at approximately $425,000.

Other large investors also recently modified their holdings of the company. Lindenwold Advisors INC increased its position in shares of Meta Platforms by 0.3% during the third quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock valued at $3,388,000 after acquiring an additional 17 shares in the last quarter. Central Valley Advisors LLC boosted its stake in Meta Platforms by 0.3% during the 3rd quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock valued at $3,271,000 after purchasing an additional 18 shares during the last quarter. Cherrydale Wealth Management LLC increased its holdings in shares of Meta Platforms by 0.5% in the 3rd quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after purchasing an additional 18 shares in the last quarter. Alliance Wealth Advisors LLC raised its stake in shares of Meta Platforms by 0.7% in the third quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock worth $1,595,000 after purchasing an additional 18 shares during the last quarter. Finally, Kozak & Associates Inc. increased its holdings in Meta Platforms by 1.0% in the 3rd quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock worth $1,099,000 after buying an additional 18 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on META. Hsbc Global Res raised shares of Meta Platforms to a “hold” rating in a research report on Thursday, October 24th. Robert W. Baird lifted their price objective on Meta Platforms from $605.00 to $630.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a report on Thursday, October 31st. Susquehanna boosted their price target on Meta Platforms from $600.00 to $675.00 and gave the company a “positive” rating in a research note on Thursday, October 31st. Finally, Scotiabank dropped their price objective on shares of Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating on the stock in a report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $634.71.

Insider Buying and Selling at Meta Platforms

In other news, insider Christopher K. Cox sold 20,000 shares of Meta Platforms stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $557.52, for a total transaction of $11,150,400.00. Following the sale, the insider now owns 338,662 shares in the company, valued at $188,810,838.24. This trade represents a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $520.00, for a total transaction of $470,600.00. Following the completion of the sale, the insider now owns 38,722 shares in the company, valued at approximately $20,135,440. This trade represents a 2.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 106,239 shares of company stock worth $59,681,541 in the last quarter. 13.71% of the stock is owned by insiders.

Meta Platforms Stock Performance

Shares of META opened at $576.43 on Monday. The company’s 50 day simple moving average is $575.21 and its 200-day simple moving average is $527.76. Meta Platforms, Inc. has a 12-month low of $313.66 and a 12-month high of $602.95. The firm has a market cap of $1.46 trillion, a PE ratio of 27.05, a price-to-earnings-growth ratio of 1.27 and a beta of 1.22. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The firm had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. As a group, equities analysts predict that Meta Platforms, Inc. will post 22.62 EPS for the current year.

Meta Platforms Dividend Announcement

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 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio is currently 9.42%.

About Meta Platforms

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.