Meta Platforms (NASDAQ:META) Shares Up 4.3% – What’s Next?

Meta Platforms, Inc. (NASDAQ:META) shares rose 4.3% during mid-day trading on Thursday . The company traded as high as $609.61 and last traded at $609.24. Approximately 7,383,473 shares changed hands during trading, a decline of 46% from the average daily volume of 13,655,621 shares. The stock had previously closed at $584.06.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on META. Robert W. Baird upped their target price on Meta Platforms from $680.00 to $750.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Benchmark upgraded Meta Platforms from a “hold” rating to a “buy” rating and set a $820.00 price objective for the company in a research report on Thursday, January 30th. Rosenblatt Securities reissued a “buy” rating and set a $811.00 price target on shares of Meta Platforms in a research note on Monday, January 27th. Royal Bank of Canada boosted their target price on Meta Platforms from $700.00 to $800.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Finally, Wells Fargo & Company lifted their price objective on Meta Platforms from $685.00 to $752.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus price target of $718.31.

Meta Platforms Trading Up 1.7 %

The company has a 50 day moving average price of $655.38 and a two-hundred day moving average price of $605.08. The firm has a market capitalization of $1.51 trillion, a price-to-earnings ratio of 24.93, a P/E/G ratio of 1.42 and a beta of 1.23. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same period in the previous year, the company earned $5.33 EPS. On average, research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be paid a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio is currently 8.78%.

Insider Transactions at Meta Platforms

In related news, COO Javier Olivan sold 413 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $589.16, for a total value of $243,323.08. Following the sale, the chief operating officer now owns 17,514 shares in the company, valued at $10,318,548.24. This represents a 2.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Susan J. Li sold 8,553 shares of the business’s stock in a transaction dated Saturday, February 15th. The shares were sold at an average price of $736.67, for a total transaction of $6,300,738.51. Following the completion of the transaction, the chief financial officer now directly owns 51,793 shares of the company’s stock, valued at $38,154,349.31. The trade was a 14.17 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 622,844 shares of company stock worth $409,212,161. Insiders own 13.71% of the company’s stock.

Hedge Funds Weigh In On Meta Platforms

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. JDM Financial Group LLC purchased a new stake in Meta Platforms in the 3rd quarter worth about $30,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Meta Platforms during the third quarter worth approximately $36,000. Millstone Evans Group LLC bought a new position in shares of Meta Platforms in the fourth quarter worth about $40,000. Avondale Wealth Management bought a new stake in shares of Meta Platforms during the fourth quarter worth $41,000. Finally, WealthTrak Capital Management LLC acquired a new position in shares of Meta Platforms during the 4th quarter worth about $43,000. 79.91% of the stock is owned by institutional investors.

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.