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

Hollow Brook Wealth Management LLC acquired a new position in Meta Platforms, Inc. (NASDAQ:META) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 742 shares of the social networking company’s stock, valued at approximately $425,000.

Other institutional investors have also added to or reduced their stakes in the company. POM Investment Strategies LLC acquired a new position in Meta Platforms during the 2nd quarter valued at about $38,000. Ruedi Wealth Management Inc. increased its holdings in shares of Meta Platforms by 122.2% during 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 in the last quarter. Halpern Financial Inc. acquired a new stake in shares of Meta Platforms in the third quarter worth $46,000. West Financial Advisors LLC purchased a new position in Meta Platforms during the third quarter valued at approximately $49,000. Finally, NewSquare Capital LLC lifted its holdings in Meta Platforms by 221.9% in the second quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock valued at $52,000 after acquiring an additional 71 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Up 0.4 %

Meta Platforms stock opened at $576.43 on Monday. The company has a market capitalization of $1.46 trillion, a P/E ratio of 27.05, a P/E/G ratio of 1.27 and a beta of 1.22. Meta Platforms, Inc. has a 1-year low of $313.66 and a 1-year high of $602.95. The firm’s fifty day simple moving average is $575.21 and its 200-day simple moving average is $527.76. 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 announced its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The company had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. Sell-side analysts forecast that Meta Platforms, Inc. will post 22.62 earnings per share for the current fiscal 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 issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Insider Activity

In other news, COO Javier Olivan sold 413 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $562.77, for a total value of $232,424.01. Following the sale, the chief operating officer now directly owns 19,579 shares in the company, valued at approximately $11,018,473.83. This represents a 2.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $565.30, for a total value of $511,596.50. Following the transaction, the insider now owns 37,790 shares of the company’s stock, valued at $21,362,687. This trade represents a 2.34 % 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 valued at $59,681,541 over the last 90 days. 13.71% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Robert W. Baird boosted their target price on shares of Meta Platforms from $605.00 to $630.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. lifted their target price on shares of Meta Platforms from $640.00 to $660.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Jefferies Financial Group increased their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. DA Davidson initiated coverage on shares of Meta Platforms in a research report on Tuesday, September 10th. They set a “buy” rating and a $600.00 price target on the stock. Finally, Tigress Financial raised their target price on shares of Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 16th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $634.71.

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.