Meta Platforms (NASDAQ:META) Given New $540.00 Price Target at KeyCorp

Meta Platforms (NASDAQ:METAFree Report) had its price target hoisted by KeyCorp from $475.00 to $540.00 in a research note released on Thursday, Benzinga reports. The firm currently has an overweight rating on the social networking company’s stock.

Other equities analysts have also issued research reports about the company. Wedbush cut their price target on Meta Platforms from $570.00 to $480.00 and set an outperform rating on the stock in a research note on Thursday, April 25th. Jefferies Financial Group cut their price target on Meta Platforms from $585.00 to $540.00 and set a buy rating on the stock in a research note on Thursday, April 25th. BMO Capital Markets reaffirmed a market perform rating and set a $450.00 price objective on shares of Meta Platforms in a research report on Wednesday, June 12th. Stifel Nicolaus raised their price objective on Meta Platforms from $527.00 to $588.00 and gave the company a buy rating in a research report on Tuesday, April 16th. Finally, Loop Capital dropped their price objective on Meta Platforms from $555.00 to $550.00 and set a buy rating on the stock in a research report on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $510.05.

View Our Latest Report on META

Meta Platforms Stock Performance

META stock opened at $494.78 on Thursday. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The business’s fifty day simple moving average is $478.61 and its two-hundred day simple moving average is $448.41. Meta Platforms has a twelve month low of $274.38 and a twelve month high of $531.49. The firm has a market cap of $1.26 trillion, a price-to-earnings ratio of 28.42, a PEG ratio of 1.30 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, topping analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The business had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Analysts predict that Meta Platforms will post 20.16 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Friday, June 14th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.40%. Meta Platforms’s dividend payout ratio is presently 11.49%.

Insider Activity at Meta Platforms

In other Meta Platforms news, Director Sheryl Sandberg sold 105,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total transaction of $50,054,550.00. Following the sale, the director now owns 630,293 shares in the company, valued at approximately $300,466,976.03. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Meta Platforms news, Director Sheryl Sandberg sold 105,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total transaction of $50,054,550.00. Following the sale, the director now owns 630,293 shares in the company, valued at approximately $300,466,976.03. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Andrew Bosworth sold 5,058 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total value of $2,386,617.30. Following the completion of the transaction, the chief technology officer now owns 15,412 shares in the company, valued at approximately $7,272,152.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 235,757 shares of company stock worth $114,265,610. 13.71% of the stock is currently owned by company insiders.

Institutional Trading of Meta Platforms

A number of large investors have recently made changes to their positions in the company. HM Payson & Co. boosted its position in shares of Meta Platforms by 8.1% in the 1st quarter. HM Payson & Co. now owns 93,423 shares of the social networking company’s stock valued at $45,365,000 after purchasing an additional 7,007 shares during the period. Chelsea Counsel Co. acquired a new stake in shares of Meta Platforms in the 1st quarter valued at about $194,000. Mosaic Family Wealth Partners LLC boosted its position in shares of Meta Platforms by 3.1% in the 1st quarter. Mosaic Family Wealth Partners LLC now owns 1,352 shares of the social networking company’s stock valued at $656,000 after purchasing an additional 41 shares during the period. Jackson Wealth Management LLC acquired a new stake in shares of Meta Platforms in the 1st quarter valued at about $599,000. Finally, American Trust boosted its position in shares of Meta Platforms by 1.6% in the 1st quarter. American Trust now owns 3,179 shares of the social networking company’s stock valued at $1,544,000 after purchasing an additional 50 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Company Profile

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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.

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Analyst Recommendations for Meta Platforms (NASDAQ:META)

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