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

Meta Platforms, Inc. (NASDAQ:META) shares were up 0.7% 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 traded hands during trading, a decline of 79% from the average daily volume of 16,176,731 shares. The stock had previously closed at $529.32.

Several other research firms also recently weighed in on META. Loop Capital restated a “buy” rating and set a $550.00 price objective on shares of Meta Platforms in a report on Wednesday, July 3rd. The Goldman Sachs Group lowered their price objective on shares of Meta Platforms from $555.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. BNP Paribas started coverage on shares of Meta Platforms in a report on Thursday, May 2nd. They set an “underperform” rating and a $360.00 price objective on the stock. Wells Fargo & Company upped their price objective on shares of Meta Platforms from $593.00 to $625.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Oppenheimer lowered their price objective on shares of Meta Platforms from $585.00 to $500.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and a consensus price target of $515.64.

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total transaction of $252,164.25. Following the completion of the transaction, the insider now owns 36,643 shares in the company, valued at $15,794,965.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Nicholas Clegg sold 1,135 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 $535,549.75. Following the sale, the insider now directly owns 8,753 shares of the company’s stock, valued at $4,130,103.05. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jennifer Newstead sold 585 shares of the stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $431.05, for a total transaction of $252,164.25. Following the completion of the sale, the insider now directly owns 36,643 shares in the company, valued at $15,794,965.15. The disclosure for this sale can be found here. Insiders sold 294,768 shares of company stock worth $146,314,257 over the last quarter. 13.71% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Meta Platforms

Institutional investors and hedge funds have recently modified their holdings of the company. Delos Wealth Advisors LLC lifted its holdings in shares of Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after buying an additional 58 shares in the last quarter. Richardson Financial Services Inc. raised its stake in Meta Platforms by 95.6% in the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after purchasing an additional 43 shares in the last quarter. Quest Partners LLC purchased a new stake in Meta Platforms in the fourth quarter valued at approximately $32,000. Kathleen S. Wright Associates Inc. purchased a new stake in Meta Platforms in the first quarter valued at approximately $44,000. Finally, Clear Investment Research LLC raised its stake in Meta Platforms by 411.1% in the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 74 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Price Performance

The business’s 50 day moving average is $490.20 and its two-hundred day moving average is $464.66. The firm has a market capitalization of $1.36 trillion, a PE ratio of 30.71, a P/E/G ratio of 1.37 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. The business had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. As a group, research 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 paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.37%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

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.