Meta Platforms (NASDAQ:META) Shares Up 2.2%

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on META shares. Robert W. Baird raised their target price on Meta Platforms from $500.00 to $530.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. TD Securities upped their target price on shares of Meta Platforms from $530.00 to $600.00 in a research report on Wednesday, July 10th. Guggenheim lifted their price target on Meta Platforms from $500.00 to $600.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a report on Thursday, August 1st. Finally, Truist Financial lifted their target price on Meta Platforms from $535.00 to $570.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-three have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $572.51.

Meta Platforms Stock Up 1.9 %

The company has a quick ratio of 2.68, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The business has a 50-day simple moving average of $498.92 and a 200-day simple moving average of $485.97. The stock has a market cap of $1.36 trillion, a P/E ratio of 30.92, a PEG ratio of 1.27 and a beta of 1.21.

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

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were given a dividend of $0.50 per share. The ex-dividend date was Friday, June 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.37%. Meta Platforms’s dividend payout ratio is presently 11.49%.

Insider Buying and Selling at Meta Platforms

In related news, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $514.89, for a total transaction of $8,599,692.78. Following the transaction, the chief executive officer now owns 89,927 shares of the company’s stock, valued at $46,302,513.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Peggy Alford sold 1,052 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $479.00, for a total value of $503,908.00. Following the completion of the transaction, the director now directly owns 6,168 shares of the company’s stock, valued at $2,954,472. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $514.89, for a total transaction of $8,599,692.78. Following the completion of the sale, the chief executive officer now directly owns 89,927 shares in the company, valued at approximately $46,302,513.03. The disclosure for this sale can be found here. Insiders have sold 349,174 shares of company stock valued at $175,146,777 in the last 90 days. 13.71% of the stock is currently owned by insiders.

Institutional Trading of Meta Platforms

Several institutional investors have recently made changes to their positions in META. Quest Partners LLC bought a new position in shares of Meta Platforms during the 4th quarter worth approximately $32,000. Clear Investment Research LLC increased its holdings in shares of Meta Platforms by 411.1% during the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after buying an additional 74 shares in the last quarter. Delos Wealth Advisors LLC grew its position 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 acquiring an additional 58 shares during the last quarter. POM Investment Strategies LLC acquired a new stake in Meta Platforms during the 2nd quarter valued at $38,000. Finally, Ruedi Wealth Management Inc. raised its position in 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. 79.91% of the stock is currently owned by institutional investors and hedge funds.

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.