Meta Platforms (NASDAQ:META) Trading Up 0.7% Following Analyst Upgrade

Meta Platforms, Inc. (NASDAQ:METAGet Free Report)’s stock price was up 0.7% during trading on Tuesday after TD Securities raised their price target on the stock from $530.00 to $600.00. The stock traded as high as $537.24 and last traded at $533.25. Approximately 3,465,919 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 16,176,731 shares. The stock had previously closed at $529.32.

META has been the subject of several other research reports. Benchmark reissued a “hold” rating on shares of Meta Platforms in a research note on Monday, April 22nd. Truist Financial cut their target price on Meta Platforms from $550.00 to $535.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research note on Monday, July 1st. Rosenblatt Securities raised their target price on Meta Platforms from $520.00 to $562.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Finally, Wedbush cut their target price on Meta Platforms from $570.00 to $480.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $515.64.

Check Out Our Latest Report on Meta Platforms

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $533.95, for a total transaction of $483,224.75. Following the transaction, the insider now owns 36,940 shares in the company, valued at approximately $19,724,113. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Javier Olivan sold 490 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $517.75, for a total transaction of $253,697.50. Following the sale, the chief operating officer now owns 7,579 shares of the company’s stock, valued at approximately $3,924,027.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $533.95, for a total value of $483,224.75. Following the sale, the insider now directly owns 36,940 shares in the company, valued at approximately $19,724,113. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 294,768 shares of company stock worth $146,314,257. Company insiders own 13.71% of the company’s stock.

Institutional Investors Weigh In On Meta Platforms

Several institutional investors have recently modified their holdings of the company. S.A. Mason LLC boosted its stake in shares of Meta Platforms by 1.5% during the 1st quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock worth $645,000 after acquiring an additional 20 shares in 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 buying an additional 21 shares in 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 buying an additional 21 shares in the last quarter. Hanson & Doremus Investment Management lifted its stake in Meta Platforms by 5.3% in the 1st quarter. Hanson & Doremus Investment Management now owns 435 shares of the social networking company’s stock valued at $211,000 after buying an additional 22 shares in the last quarter. Finally, LongView Wealth Management lifted its stake in Meta Platforms by 1.3% in the 1st quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock valued at $856,000 after buying an additional 22 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Up 0.9 %

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 business has a 50 day moving average of $490.20 and a 200-day moving average of $464.66. The stock has a market cap of $1.36 trillion, a PE ratio of 30.71, a price-to-earnings-growth ratio of 1.37 and a beta of 1.21.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. On average, analysts anticipate that Meta Platforms, Inc. will post 20.15 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders 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 annualized dividend and a yield of 0.37%. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

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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