META has been the topic of a number of other research reports. Sanford C. Bernstein upped their target price on shares of Meta Platforms from $565.00 to $575.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Wells Fargo & Company upped their target price on shares of Meta Platforms from $625.00 to $647.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a research note on Thursday, August 1st. Wedbush reaffirmed an “outperform” rating and set a $570.00 price objective on shares of Meta Platforms in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $570.00 target price on shares of Meta Platforms in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-three have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $572.51.
Check Out Our Latest Analysis on META
Insider Activity
In related news, COO Javier Olivan sold 4,911 shares of Meta Platforms stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total transaction of $2,317,255.35. Following the completion of the transaction, the chief operating officer now directly owns 11,388 shares of the company’s stock, valued at $5,373,427.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CFO Susan J. Li sold 8,951 shares of Meta Platforms stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total transaction of $4,223,529.35. Following the completion of the transaction, the chief financial officer now directly owns 74,580 shares in the company, valued at approximately $35,190,573. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Javier Olivan sold 4,911 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total value of $2,317,255.35. Following the completion of the sale, the chief operating officer now directly owns 11,388 shares in the company, valued at approximately $5,373,427.80. The disclosure for this sale can be found here. Insiders sold 318,106 shares of company stock worth $158,125,941 in the last 90 days. 13.71% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Meta Platforms
A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Meta Platforms by 0.4% in the first quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock valued at $90,891,055,000 after buying an additional 831,047 shares during the last quarter. Capital World Investors lifted its stake in shares of Meta Platforms by 0.6% during the 1st quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock worth $18,597,382,000 after purchasing an additional 244,803 shares during the period. Capital International Investors boosted its holdings in shares of Meta Platforms by 3.2% during the fourth quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock worth $12,296,383,000 after purchasing an additional 1,083,719 shares during the last quarter. Capital Research Global Investors grew its position in shares of Meta Platforms by 14.5% in the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock valued at $16,799,612,000 after purchasing an additional 4,379,826 shares during the period. Finally, Norges Bank acquired a new position in Meta Platforms in the fourth quarter valued at $11,285,855,000. 79.91% of the stock is owned by institutional investors and hedge funds.
Meta Platforms Price Performance
The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.68. The stock has a market capitalization of $1.24 trillion, a PE ratio of 28.08, a P/E/G ratio of 1.27 and a beta of 1.21. The company has a 50-day moving average of $494.62 and a two-hundred day moving average of $481.40.
Meta Platforms (NASDAQ:META – Get Free Report) last released its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. During the same period last year, the company earned $3.23 earnings per share. The company’s quarterly revenue was up 22.1% on a year-over-year basis. Sell-side analysts predict that Meta Platforms, Inc. will post 20.5 EPS for the current fiscal year.
Meta Platforms Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 annualized dividend and a yield of 0.41%. Meta Platforms’s dividend payout ratio is presently 11.49%.
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.
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