Meta Platforms (NASDAQ:META) Trading Up 2.2%

Meta Platforms, Inc. (NASDAQ:META) shares traded up 2.2% during mid-day trading on Thursday . The company traded as high as $538.88 and last traded at $538.25. 3,773,140 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 16,314,333 shares. The stock had previously closed at $526.76.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Wells Fargo & Company raised their price objective on shares of Meta Platforms from $625.00 to $647.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Jefferies Financial Group upped their target price on Meta Platforms from $565.00 to $600.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Guggenheim raised their price target on shares of Meta Platforms from $500.00 to $600.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Benchmark reiterated a “hold” rating on shares of Meta Platforms in a research note on Thursday, July 25th. Finally, Sanford C. Bernstein increased their price target on Meta Platforms from $565.00 to $575.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-three have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and an average price target of $572.51.

Meta Platforms Trading Up 1.9 %

The stock’s fifty day moving average price is $498.92 and its two-hundred day moving average price is $485.97. The company has a market capitalization of $1.36 trillion, a PE ratio of 30.92, a price-to-earnings-growth ratio of 1.27 and a beta of 1.21. The company has a quick ratio of 2.68, a current ratio of 2.83 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The firm had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. During the same period in the previous year, the firm earned $3.23 earnings per share. The business’s revenue was up 22.1% compared to the same quarter last year. Sell-side analysts anticipate that Meta Platforms, Inc. will post 20.5 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were issued a $0.50 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a yield of 0.37%. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

Insider Activity

In related news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $467.57, for a total transaction of $423,150.85. Following the sale, the insider now owns 43,275 shares of the company’s stock, valued at $20,234,091.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $514.89, for a total value of $8,599,692.78. Following the completion of the transaction, the chief executive officer now owns 89,927 shares of the company’s stock, valued at approximately $46,302,513.03. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $467.57, for a total transaction of $423,150.85. Following the transaction, the insider now owns 43,275 shares in the company, valued at approximately $20,234,091.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 349,174 shares of company stock worth $175,146,777. Corporate insiders own 13.71% of the company’s stock.

Institutional Trading of Meta Platforms

Several large investors have recently modified their holdings of the company. S.A. Mason LLC increased its stake in shares of Meta Platforms by 1.5% in the 1st quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock worth $645,000 after purchasing an additional 20 shares in the last quarter. Horizon Bancorp Inc. IN raised its position in shares of Meta Platforms by 2.0% during the 1st quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock valued at $513,000 after buying an additional 21 shares in the last quarter. Northern Capital Management Inc. raised its holdings in Meta Platforms by 3.4% during the 1st quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company’s stock valued at $314,000 after buying an additional 21 shares during the period. Buckingham Capital Management Inc. lifted its stake in Meta Platforms by 5.1% in the second quarter. Buckingham Capital Management Inc. now owns 433 shares of the social networking company’s stock worth $218,000 after purchasing an additional 21 shares during the last quarter. Finally, Hanson & Doremus Investment Management increased its stake in Meta Platforms by 5.3% in the first quarter. Hanson & Doremus Investment Management now owns 435 shares of the social networking company’s stock worth $211,000 after purchasing an additional 22 shares during the period. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Company 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.