Jennifer Newstead Sells 905 Shares of Meta Platforms, Inc. (NASDAQ:META) Stock

Meta Platforms, Inc. (NASDAQ:META) insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $589.97, for a total transaction of $533,922.85. Following the sale, the insider now owns 33,292 shares of the company’s stock, valued at approximately $19,641,281.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Jennifer Newstead also recently made the following trade(s):

• On Tuesday, October 8th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $589.89, for a total transaction of $533,850.45.
• On Tuesday, October 1st, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $578.55, for a total transaction of $523,587.75.
• On Tuesday, September 17th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $537.72, for a total value of $486,636.60.
• On Tuesday, September 10th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $507.63, for a total value of $459,405.15.
• On Tuesday, September 3rd, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $520.00, for a total value of $470,600.00.
• On Tuesday, August 27th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $519.05, for a total transaction of $469,740.25.
• On Tuesday, August 20th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $528.38, for a total value of $478,183.90.
• On Friday, August 16th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $532.21, for a total value of $481,650.05.
• On Monday, August 5th, Jennifer Newstead sold 901 shares of Meta Platforms stock. The shares were sold at an average price of $451.15, for a total transaction of $406,486.15.
• On Tuesday, July 23rd, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $489.80, for a total transaction of $443,269.00.

Meta Platforms Stock Performance

Meta Platforms stock opened at $576.47 on Friday. The stock has a market cap of $1.46 trillion, a PE ratio of 33.11, a P/E/G ratio of 1.45 and a beta of 1.22. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 12-month low of $279.40 and a 12-month high of $602.95. The business’s 50-day moving average price is $546.53 and its two-hundred day moving average price is $508.68.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.70 by $0.46. The business had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm’s revenue was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.23 EPS. As a group, analysts expect that Meta Platforms, Inc. will post 21.37 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. Meta Platforms’s dividend payout ratio is currently 11.49%.

Analysts Set New Price Targets

META has been the subject of a number of research reports. Wells Fargo & Company increased their target price on Meta Platforms from $647.00 to $652.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Stifel Nicolaus boosted their price target on Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Pivotal Research began coverage on Meta Platforms in a research report on Tuesday, October 1st. They issued a “buy” rating and a $780.00 price objective for the company. Evercore ISI lifted their target price on Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Finally, Barclays increased their price target on Meta Platforms from $520.00 to $550.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $617.37.

Hedge Funds Weigh In On Meta Platforms

Institutional investors and hedge funds have recently bought and sold shares of the company. Central Valley Advisors LLC increased its stake in shares of Meta Platforms by 0.3% in the third quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock valued at $3,271,000 after buying an additional 18 shares during the period. Cherrydale Wealth Management LLC boosted its position in Meta Platforms by 0.5% during the 3rd quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after buying an additional 18 shares during the period. Alliance Wealth Advisors LLC grew its holdings in Meta Platforms by 0.7% during the 3rd quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock worth $1,595,000 after acquiring an additional 18 shares during the last quarter. Kozak & Associates Inc. increased its position in Meta Platforms by 1.0% in the 3rd quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock valued at $1,099,000 after acquiring an additional 18 shares during the period. Finally, Firethorn Wealth Partners LLC raised its stake in shares of Meta Platforms by 1.8% during the third quarter. Firethorn Wealth Partners LLC now owns 1,075 shares of the social networking company’s stock valued at $615,000 after acquiring an additional 19 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

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.