Brokerages Set Meta Platforms, Inc. (NASDAQ:META) Target Price at $829.66

Shares of Meta Platforms, Inc. (NASDAQ:META) have been given an average rating of “Buy” by the forty-eight research firms that are currently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and five have issued a strong buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $829.6591.

META has been the topic of a number of research analyst reports. Citigroup reiterated an “outperform” rating on shares of Meta Platforms in a research report on Thursday, July 31st. Cantor Fitzgerald reiterated an “overweight” rating and set a $920.00 target price on shares of Meta Platforms in a research report on Thursday, October 16th. Piper Sandler boosted their price target on Meta Platforms from $808.00 to $880.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Loop Capital restated a “buy” rating and issued a $980.00 price target (up previously from $888.00) on shares of Meta Platforms in a research report on Tuesday, August 5th. Finally, Wedbush boosted their price target on Meta Platforms from $750.00 to $920.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st.

Meta Platforms Stock Up 0.1%

META opened at $751.44 on Wednesday. The business’s 50-day simple moving average is $741.78 and its 200-day simple moving average is $694.67. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.97 and a current ratio of 1.97. Meta Platforms has a one year low of $479.80 and a one year high of $796.25. The stock has a market capitalization of $1.89 trillion, a P/E ratio of 27.21, a price-to-earnings-growth ratio of 1.59 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, July 30th. The social networking company reported $7.14 EPS for the quarter, topping analysts’ consensus estimates of $5.75 by $1.39. Meta Platforms had a return on equity of 39.33% and a net margin of 39.99%.The business had revenue of $47.52 billion for the quarter, compared to analysts’ expectations of $44.55 billion. During the same quarter in the previous year, the firm earned $5.16 earnings per share. The business’s revenue was up 21.6% compared to the same quarter last year. Analysts anticipate that Meta Platforms will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 22nd were given a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, September 22nd. Meta Platforms’s payout ratio is 7.60%.

Insider Buying and Selling

In related news, insider Christopher K. Cox sold 60,000 shares of the business’s stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $775.95, for a total value of $46,557,000.00. Following the transaction, the insider owned 237,205 shares in the company, valued at $184,059,219.75. The trade was a 20.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CTO Andrew Bosworth sold 11,694 shares of Meta Platforms stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $775.00, for a total value of $9,062,850.00. Following the completion of the sale, the chief technology officer directly owned 1,799 shares in the company, valued at $1,394,225. This represents a 86.67% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 213,146 shares of company stock worth $164,208,279. Insiders own 13.61% of the company’s stock.

Institutional Investors Weigh In On Meta Platforms

Institutional investors have recently added to or reduced their stakes in the business. Csenge Advisory Group boosted its holdings in Meta Platforms by 12.0% in the 1st quarter. Csenge Advisory Group now owns 9,539 shares of the social networking company’s stock valued at $5,498,000 after purchasing an additional 1,019 shares in the last quarter. ARQ Wealth Advisors LLC boosted its holdings in Meta Platforms by 4.5% in the 1st quarter. ARQ Wealth Advisors LLC now owns 785 shares of the social networking company’s stock valued at $452,000 after purchasing an additional 34 shares in the last quarter. JMG Financial Group Ltd. purchased a new stake in Meta Platforms in the 1st quarter valued at approximately $284,000. Infusive Asset Management Inc. boosted its stake in shares of Meta Platforms by 10.7% during the 1st quarter. Infusive Asset Management Inc. now owns 23,620 shares of the social networking company’s stock worth $13,614,000 after acquiring an additional 2,285 shares in the last quarter. Finally, Spirepoint Private Client LLC boosted its stake in shares of Meta Platforms by 2.7% during the 2nd quarter. Spirepoint Private Client LLC now owns 4,080 shares of the social networking company’s stock worth $3,011,000 after acquiring an additional 109 shares in 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.