Meta Platforms (NASDAQ:META) Price Target Raised to $550.00 at Roth Mkm

Meta Platforms (NASDAQ:META) had its target price boosted by Roth Mkm from $510.00 to $550.00 in a report published on Thursday, Benzinga reports. They currently have a buy rating on the social networking company’s stock.

META has been the subject of a number of other reports. Sanford C. Bernstein boosted their price objective on shares of Meta Platforms from $565.00 to $575.00 and gave the stock an outperform rating in a research note on Monday, July 22nd. Jefferies Financial Group increased their target price on Meta Platforms from $565.00 to $600.00 and gave the company a buy rating in a research note on Thursday. Susquehanna upped their price target on Meta Platforms from $550.00 to $600.00 and gave the stock a positive rating in a report on Thursday. Raymond James boosted their target price on shares of Meta Platforms from $550.00 to $600.00 and gave the stock a strong-buy rating in a research report on Monday, July 1st. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Meta Platforms from $540.00 to $500.00 and set a buy rating for the company in a research note on Thursday, April 25th. Two investment 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 MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $571.84.

Meta Platforms Stock Down 1.2 %

META stock traded down $5.96 during midday trading on Thursday, reaching $491.78. The company had a trading volume of 12,533,492 shares, compared to its average volume of 16,343,250. Meta Platforms has a 1 year low of $274.38 and a 1 year high of $542.81. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $1.25 trillion, a P/E ratio of 27.79, a PEG ratio of 1.23 and a beta of 1.21. The company has a 50 day moving average of $493.89 and a two-hundred day moving average of $477.52.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a return on equity of 34.63% and a net margin of 34.34%. The firm had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. During the same quarter in the prior year, the company posted $3.23 earnings per share. The firm’s revenue was up 22.1% on a year-over-year basis. On average, equities research analysts expect that Meta Platforms will post 20.26 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were given 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 0.41%. Meta Platforms’s payout ratio is 11.49%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 576 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $466.33, for a total transaction of $268,606.08. Following the transaction, the insider now owns 36,067 shares in the company, valued at $16,819,124.11. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Jennifer Newstead sold 576 shares of Meta Platforms stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $466.33, for a total value of $268,606.08. Following the sale, the insider now owns 36,067 shares of the company’s stock, valued at $16,819,124.11. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nicholas Clegg sold 1,135 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total value of $535,549.75. Following the transaction, the insider now owns 8,753 shares in the company, valued at approximately $4,130,103.05. The disclosure for this sale can be found here. In the last 90 days, insiders sold 310,685 shares of company stock worth $154,398,206. Insiders own 13.71% of the company’s stock.

Hedge Funds Weigh In On Meta Platforms

A number of hedge funds have recently added to or reduced their stakes in the stock. Delos Wealth Advisors LLC boosted its position in shares of 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 acquiring an additional 58 shares in the last quarter. POM Investment Strategies LLC acquired a new stake in shares of Meta Platforms in the 2nd quarter valued at $38,000. Ruedi Wealth Management Inc. increased its stake in shares of Meta Platforms by 122.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 44 shares during the last quarter. Richardson Financial Services Inc. raised its holdings in shares of Meta Platforms by 95.6% during the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after buying an additional 43 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in shares of Meta Platforms during the 4th quarter worth $32,000. 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.