Meta Platforms (NASDAQ:META – Free Report) had its target price boosted by Truist Financial from $650.00 to $700.00 in a research report report published on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the social networking company’s stock.
META has been the topic of several other research reports. DA Davidson started coverage on Meta Platforms in a research note on Tuesday, September 10th. They issued a “buy” rating and a $600.00 price target on the stock. Susquehanna boosted their target price on Meta Platforms from $600.00 to $675.00 and gave the stock a “positive” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. raised their price target on shares of Meta Platforms from $640.00 to $660.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Wells Fargo & Company decreased their price target on shares of Meta Platforms from $652.00 to $641.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Finally, Stifel Nicolaus increased their price objective on shares of Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $636.41.
Read Our Latest Analysis on META
Meta Platforms Stock Down 0.8 %
Meta Platforms (NASDAQ:META – Get Free Report) last issued its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.19 by $0.84. The company 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%. Sell-side analysts anticipate that Meta Platforms will post 22.68 EPS for the current fiscal year.
Meta Platforms Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 16th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date is Monday, December 16th. Meta Platforms’s payout ratio is 9.42%.
Insiders Place Their Bets
In related news, insider Christopher K. Cox sold 20,000 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $557.52, for a total value of $11,150,400.00. Following the transaction, the insider now directly owns 338,662 shares in the company, valued at $188,810,838.24. This trade represents a 5.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Javier Olivan sold 413 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $560.00, for a total transaction of $231,280.00. Following the sale, the chief operating officer now owns 12,772 shares of the company’s stock, valued at $7,152,320. This trade represents a 3.13 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 249,018 shares of company stock worth $148,605,500. Corporate insiders own 13.71% of the company’s stock.
Hedge Funds Weigh In On Meta Platforms
Large investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC boosted its position in shares of Meta Platforms by 57,001.5% during the third 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 buying an additional 9,500,444 shares during the last quarter. Integrated Investment Consultants LLC grew its stake in shares of Meta Platforms by 61,769.3% in the 3rd quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock worth $2,365,820,000 after acquiring an additional 4,126,190 shares in the last quarter. Sustainable Growth Advisers LP purchased a new stake in shares of Meta Platforms in the second quarter valued at about $595,152,000. World Investment Advisors LLC lifted its position 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 valued at $520,662,000 after purchasing an additional 890,434 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Meta Platforms by 1.5% during the third quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock valued at $27,470,870,000 after purchasing an additional 698,884 shares in the last quarter. Institutional investors 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.
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