Insider Selling: Meta Platforms, Inc. (NASDAQ:META) Insider Sells 1,131 Shares of Stock

Meta Platforms, Inc. (NASDAQ:META) insider Nicholas Clegg sold 1,131 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $577.16, for a total transaction of $652,767.96. Following the completion of the transaction, the insider now owns 1,229 shares in the company, valued at $709,329.64. The trade was a 47.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Nicholas Clegg also recently made the following trade(s):

• On Monday, November 18th, Nicholas Clegg sold 7,296 shares of Meta Platforms stock. The shares were sold at an average price of $553.48, for a total transaction of $4,038,190.08.

Meta Platforms Stock Up 1.2 %

Shares of NASDAQ:META opened at $561.09 on Wednesday. The firm has a 50 day simple moving average of $570.23 and a 200-day simple moving average of $522.73. Meta Platforms, Inc. has a twelve month low of $313.66 and a twelve month high of $602.95. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $1.42 trillion, a PE ratio of 26.43, a P/E/G ratio of 1.23 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. The firm had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. On average, equities analysts predict that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.36%. Meta Platforms’s dividend payout ratio is presently 9.42%.

Analyst Ratings Changes

META has been the subject of several recent analyst reports. Morgan Stanley raised their target price on Meta Platforms from $550.00 to $575.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Susquehanna boosted their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “positive” rating in a report on Thursday, October 31st. Bank of America upped their target price on shares of Meta Platforms from $630.00 to $660.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Monness Crespi & Hardt lifted their price target on shares of Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. upped their price objective on shares of Meta Platforms from $640.00 to $660.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $634.10.

Institutional Investors Weigh In On Meta Platforms

A number of institutional investors and hedge funds have recently added to or reduced their stakes in META. International Assets Investment Management LLC raised its position in Meta Platforms by 57,001.5% in the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock valued at $5,447,975,000 after purchasing an additional 9,500,444 shares during the last quarter. Capital Research Global Investors increased its stake in Meta Platforms by 14.5% in the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock valued at $16,799,612,000 after purchasing an additional 4,379,826 shares during the period. Integrated Investment Consultants LLC raised its holdings in shares of Meta Platforms by 61,769.3% in the third quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock valued at $2,365,820,000 after buying an additional 4,126,190 shares during the last quarter. Sustainable Growth Advisers LP acquired a new stake in shares of Meta Platforms during the second quarter worth about $595,152,000. Finally, World Investment Advisors LLC grew its holdings in shares of Meta Platforms by 4,658.5% during the third quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock worth $520,662,000 after buying an additional 890,434 shares during the last quarter. Hedge funds and other 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.