Meta Platforms (NASDAQ:META) PT Lowered to $600.00

Meta Platforms (NASDAQ:METAFree Report) had its price target lowered by Wells Fargo & Company from $609.00 to $600.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the social networking company’s stock.

A number of other research firms have also recently issued reports on META. UBS Group lifted their target price on shares of Meta Platforms from $425.00 to $530.00 and gave the company a buy rating in a research note on Friday, February 2nd. Royal Bank of Canada increased their target price on shares of Meta Platforms from $400.00 to $565.00 and gave the stock an outperform rating in a research report on Friday, February 2nd. Raymond James boosted their price target on Meta Platforms from $450.00 to $550.00 and gave the stock a strong-buy rating in a research report on Friday, February 2nd. Mizuho increased their price objective on Meta Platforms from $470.00 to $575.00 and gave the company a buy rating in a report on Friday, February 2nd. Finally, Stifel Nicolaus boosted their target price on Meta Platforms from $405.00 to $527.00 and gave the stock a buy rating in a report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirty-nine have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $496.13.

Check Out Our Latest Research Report on META

Meta Platforms Trading Up 1.9 %

NASDAQ META opened at $506.74 on Wednesday. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.12. Meta Platforms has a 1-year low of $207.13 and a 1-year high of $523.57. The firm’s fifty day simple moving average is $475.82 and its 200-day simple moving average is $381.88. The company has a market capitalization of $1.29 trillion, a PE ratio of 34.01, a price-to-earnings-growth ratio of 1.26 and a beta of 1.20.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its earnings results on Thursday, February 1st. The social networking company reported $5.33 earnings per share for the quarter, topping the consensus estimate of $4.82 by $0.51. The company had revenue of $40.11 billion for the quarter, compared to analyst estimates of $39.12 billion. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. The business’s revenue was up 24.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.00 EPS. As a group, sell-side analysts anticipate that Meta Platforms will post 19.94 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Thursday, February 22nd were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.39%. The ex-dividend date was Wednesday, February 21st. Meta Platforms’s dividend payout ratio is 13.42%.

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 566 shares of the business’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $356.40, for a total value of $201,722.40. Following the sale, the insider now owns 36,418 shares in the company, valued at approximately $12,979,375.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Jennifer Newstead sold 566 shares of Meta Platforms stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $356.40, for a total value of $201,722.40. Following the completion of the transaction, the insider now owns 36,418 shares in the company, valued at $12,979,375.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 19,681 shares of the business’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $351.47, for a total value of $6,917,281.07. The disclosure for this sale can be found here. Insiders sold 1,535,345 shares of company stock worth $719,043,348 over the last three months. 14.03% of the stock is currently owned by corporate insiders.

Institutional Trading of Meta Platforms

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Stone House Investment Management LLC raised its stake in shares of Meta Platforms by 625.0% in the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after acquiring an additional 75 shares during the last quarter. MBM Wealth Consultants LLC acquired a new position in Meta Platforms during the 4th quarter worth $26,000. Stephens Investment Management Group LLC bought a new position in Meta Platforms in the 2nd quarter valued at $30,000. Beaird Harris Wealth Management LLC increased its stake in shares of Meta Platforms by 68.9% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after buying an additional 42 shares during the period. Finally, Quest Partners LLC bought a new stake in shares of Meta Platforms during the fourth quarter worth $32,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

About Meta Platforms

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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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Analyst Recommendations for Meta Platforms (NASDAQ:META)

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