Meta Platforms (NASDAQ:META) PT Raised to $811.00

Meta Platforms (NASDAQ:META) had its price target hoisted by Rosenblatt Securities from $643.00 to $811.00 in a research report report published on Thursday, Benzinga reports. Rosenblatt Securities currently has a buy rating on the social networking company’s stock.

Other research analysts have also recently issued research reports about the company. BMO Capital Markets restated a market perform rating and issued a $450.00 price target on shares of Meta Platforms in a research report on Wednesday, June 12th. TD Securities lifted their target price on shares of Meta Platforms from $530.00 to $600.00 in a research report on Wednesday, July 10th. Truist Financial increased their price target on shares of Meta Platforms from $535.00 to $570.00 and gave the company a buy rating in a research report on Thursday, August 1st. The Goldman Sachs Group lifted their price objective on Meta Platforms from $522.00 to $555.00 and gave the stock a buy rating in a research report on Thursday, August 1st. Finally, DA Davidson began coverage on Meta Platforms in a report on Tuesday, September 10th. They set a buy rating and a $600.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-four have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $591.23.

Meta Platforms Stock Performance

NASDAQ:META opened at $567.36 on Thursday. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms has a fifty-two week low of $279.40 and a fifty-two week high of $577.40. The firm’s fifty day simple moving average is $516.19 and its 200-day simple moving average is $499.63. The stock has a market cap of $1.44 trillion, a PE ratio of 32.59, a price-to-earnings-growth ratio of 1.39 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. During the same period last year, the company posted $3.23 earnings per share. The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. Analysts expect that Meta Platforms will post 21.36 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Insider Activity at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 8,950 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $4,714,502.00. Following the transaction, the chief financial officer now owns 74,579 shares in the company, valued at approximately $39,285,234.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $500.57, for a total transaction of $453,015.85. Following the completion of the sale, the insider now owns 37,845 shares of the company’s stock, valued at $18,944,071.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Susan J. Li sold 8,950 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the completion of the sale, the chief financial officer now directly owns 74,579 shares in the company, valued at $39,285,234.04. The disclosure for this sale can be found here. In the last three months, insiders sold 325,656 shares of company stock valued at $171,028,659. Corporate insiders own 13.71% of the company’s stock.

Institutional Investors Weigh In On Meta Platforms

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Delos Wealth Advisors LLC lifted its holdings in Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after buying an additional 58 shares during the last quarter. POM Investment Strategies LLC bought a new position in Meta Platforms during the second quarter worth $38,000. Ruedi Wealth Management Inc. boosted its holdings in Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after purchasing an additional 44 shares during the period. Richardson Financial Services Inc. increased its stake in Meta Platforms by 95.6% during the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after purchasing an additional 43 shares during the last quarter. Finally, Quest Partners LLC acquired a new stake in shares of Meta Platforms during the fourth quarter worth $32,000. 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.