Meta Platforms (NASDAQ:META) Trading Down 1.2%

Shares of Meta Platforms, Inc. (NASDAQ:META) were down 1.2% on Thursday . The stock traded as low as $442.65 and last traded at $455.67. Approximately 7,560,886 shares traded hands during trading, a decline of 53% from the average daily volume of 16,135,683 shares. The stock had previously closed at $461.27.

Analyst Ratings Changes

Several research analysts recently weighed in on META shares. KeyCorp raised their target price on Meta Platforms from $475.00 to $540.00 and gave the company an “overweight” rating in a research note on Thursday, June 20th. Rosenblatt Securities raised their target price on Meta Platforms from $520.00 to $562.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. BNP Paribas began coverage on Meta Platforms in a research report on Thursday, May 2nd. They issued an “underperform” rating and a $360.00 price target for the company. Canaccord Genuity Group decreased their price target on Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Finally, UBS Group decreased their price target on Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average price target of $521.48.

Meta Platforms Stock Down 0.3 %

The firm has a market capitalization of $1.17 trillion, a P/E ratio of 26.17, a PEG ratio of 1.26 and a beta of 1.21. The firm’s 50-day moving average is $493.72 and its 200 day moving average is $473.94. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $36.28 billion. As a group, equities research analysts predict that Meta Platforms, Inc. will post 20.23 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company 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 was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.43%. Meta Platforms’s payout ratio is 11.49%.

Insider Activity at Meta Platforms

In related news, COO Javier Olivan sold 490 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $441.54, for a total value of $216,354.60. Following the transaction, the chief operating officer now owns 6,599 shares in the company, valued at approximately $2,913,722.46. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $533.95, for a total transaction of $483,224.75. Following the completion of the sale, the insider now owns 36,940 shares of the company’s stock, valued at approximately $19,724,113. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Javier Olivan sold 490 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $441.54, for a total transaction of $216,354.60. Following the sale, the chief operating officer now directly owns 6,599 shares of the company’s stock, valued at approximately $2,913,722.46. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 310,933 shares of company stock worth $154,451,206. Insiders own 13.71% of the company’s stock.

Hedge Funds Weigh In On Meta Platforms

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. S.A. Mason LLC lifted its stake in 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 valued at $645,000 after purchasing an additional 20 shares during the last quarter. Horizon Bancorp Inc. IN lifted its stake in Meta Platforms by 2.0% in the 1st quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock valued at $513,000 after purchasing an additional 21 shares during the last quarter. Northern Capital Management Inc. lifted its stake in Meta Platforms by 3.4% in the 1st quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company’s stock valued at $314,000 after purchasing an additional 21 shares during the last quarter. Buckingham Capital Management Inc. lifted its stake in Meta Platforms by 5.1% in the 2nd quarter. Buckingham Capital Management Inc. now owns 433 shares of the social networking company’s stock valued at $218,000 after purchasing an additional 21 shares during the last quarter. Finally, Hanson & Doremus Investment Management raised its stake in shares of Meta Platforms by 5.3% during the first quarter. Hanson & Doremus Investment Management now owns 435 shares of the social networking company’s stock valued at $211,000 after acquiring an additional 22 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

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.