Meta Platforms (NASDAQ:META) Given New $625.00 Price Target at Wells Fargo & Company

Meta Platforms (NASDAQ:METAFree Report) had its price objective increased by Wells Fargo & Company from $593.00 to $625.00 in a research note released on Monday morning, MarketBeat Ratings reports. They currently have an overweight rating on the social networking company’s stock.

META has been the subject of several other research reports. Benchmark reissued a hold rating on shares of Meta Platforms in a report on Monday, April 22nd. Wedbush reduced their price target on shares of Meta Platforms from $570.00 to $480.00 and set an outperform rating for the company in a report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Meta Platforms from $540.00 to $500.00 and set a buy rating for the company in a report on Thursday, April 25th. JPMorgan Chase & Co. reduced their price objective on shares of Meta Platforms from $535.00 to $480.00 and set an overweight rating for the company in a report on Thursday, April 25th. Finally, Rosenblatt Securities upped their price objective on shares of Meta Platforms from $520.00 to $562.00 and gave the stock a buy rating in a report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $515.64.

Check Out Our Latest Analysis on META

Meta Platforms Stock Down 4.1 %

META stock opened at $512.70 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. Meta Platforms has a 1-year low of $274.38 and a 1-year high of $542.81. The firm has a fifty day moving average price of $491.62 and a two-hundred day moving average price of $464.99. The firm has a market cap of $1.30 trillion, a price-to-earnings ratio of 29.45, a PEG ratio of 1.37 and a beta of 1.21.

Meta Platforms (NASDAQ:METAGet Free Report) last released its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The firm had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. Research analysts predict that Meta Platforms will post 20.15 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders 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 dividend yield of 0.39%. Meta Platforms’s dividend payout ratio is 11.49%.

Insider Activity

In related news, insider Jennifer Newstead sold 585 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $431.05, for a total value of $252,164.25. Following the transaction, the insider now owns 36,643 shares in the company, valued at $15,794,965.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Sheryl Sandberg sold 105,000 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total value of $50,054,550.00. Following the transaction, the director now owns 630,293 shares in the company, valued at $300,466,976.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jennifer Newstead sold 585 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $431.05, for a total value of $252,164.25. Following the completion of the transaction, the insider now owns 36,643 shares in the company, valued at approximately $15,794,965.15. The disclosure for this sale can be found here. Insiders have sold 294,278 shares of company stock worth $146,060,559 in the last 90 days. Company insiders own 13.71% of the company’s stock.

Institutional Investors Weigh In On Meta Platforms

A number of large investors have recently added to or reduced their stakes in the stock. Cambridge Advisors Inc. boosted its position in Meta Platforms by 1.3% during the second quarter. Cambridge Advisors Inc. now owns 3,629 shares of the social networking company’s stock worth $1,830,000 after purchasing an additional 45 shares during the period. CHICAGO TRUST Co NA boosted its position in Meta Platforms by 22.1% during the second quarter. CHICAGO TRUST Co NA now owns 6,509 shares of the social networking company’s stock worth $3,282,000 after purchasing an additional 1,177 shares during the period. Manning & Napier Advisors LLC bought a new stake in Meta Platforms during the second quarter worth approximately $285,690,000. BDF Gestion bought a new stake in Meta Platforms during the second quarter worth approximately $28,648,000. Finally, U.S. Capital Wealth Advisors LLC boosted its position in Meta Platforms by 3.1% during the second quarter. U.S. Capital Wealth Advisors LLC now owns 22,712 shares of the social networking company’s stock worth $11,452,000 after purchasing an additional 693 shares during the period. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Company Profile

(Get Free Report)

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.

Recommended Stories

Analyst Recommendations for Meta Platforms (NASDAQ:META)

Receive News & Ratings for Meta Platforms Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meta Platforms and related companies with MarketBeat.com's FREE daily email newsletter.