Roth Mkm Raises Meta Platforms (NASDAQ:META) Price Target to $510.00

Meta Platforms (NASDAQ:META) had its target price lifted by Roth Mkm from $500.00 to $510.00 in a research note published on Thursday morning, Benzinga reports. Roth Mkm currently has a buy rating on the social networking company’s stock.

A number of other equities research analysts have also recently weighed in on META. KeyCorp dropped their price objective on Meta Platforms from $575.00 to $555.00 and set an overweight rating for the company in a research note on Monday, April 22nd. Mizuho lifted their price objective on shares of Meta Platforms from $470.00 to $575.00 and gave the company a buy rating in a report on Friday, February 2nd. Barclays increased their target price on shares of Meta Platforms from $400.00 to $550.00 and gave the stock an overweight rating in a report on Friday, February 2nd. Jefferies Financial Group dropped their price target on shares of Meta Platforms from $585.00 to $540.00 and set a buy rating for the company in a research note on Thursday. Finally, The Goldman Sachs Group reduced their price objective on Meta Platforms from $555.00 to $500.00 and set a buy rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $509.18.

Meta Platforms Trading Up 0.4 %

NASDAQ META opened at $443.29 on Thursday. Meta Platforms has a 12 month low of $229.85 and a 12 month high of $531.49. The stock has a market capitalization of $1.13 trillion, a P/E ratio of 25.46, a PEG ratio of 1.13 and a beta of 1.20. The firm’s 50-day moving average is $494.48 and its two-hundred day moving average is $405.39. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.67.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The firm had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. On average, sell-side analysts anticipate that Meta Platforms will post 20.2 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend was Wednesday, February 21st. Meta Platforms’s payout ratio is currently 11.49%.

Insider Buying and Selling

In other Meta Platforms news, CTO Andrew Bosworth sold 8,036 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $473.28, for a total value of $3,803,278.08. Following the transaction, the chief technology officer now directly owns 18,432 shares of the company’s stock, valued at approximately $8,723,496.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, COO Javier Olivan sold 490 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $488.03, for a total value of $239,134.70. Following the completion of the sale, the chief operating officer now directly owns 79,944 shares of the company’s stock, valued at approximately $39,015,070.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Andrew Bosworth sold 8,036 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $473.28, for a total value of $3,803,278.08. Following the transaction, the chief technology officer now directly owns 18,432 shares in the company, valued at approximately $8,723,496.96. The disclosure for this sale can be found here. Insiders sold a total of 1,277,048 shares of company stock valued at $620,679,759 over the last three months. 13.75% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Meta Platforms

Several institutional investors have recently made changes to their positions in META. Artemis Wealth Advisors LLC acquired a new stake in shares of Meta Platforms in the first quarter valued at about $3,156,000. Tenon Financial LLC purchased a new position in Meta Platforms in the first quarter valued at about $239,000. Guardian Financial Partners LLC acquired a new stake in shares of Meta Platforms during the 1st quarter valued at approximately $221,000. Treasure Coast Financial Planning purchased a new stake in shares of Meta Platforms during the 1st quarter worth approximately $203,000. Finally, Finer Wealth Management Inc. grew its holdings in shares of Meta Platforms by 3.3% in the 1st quarter. Finer Wealth Management Inc. now owns 13,558 shares of the social networking company’s stock worth $6,583,000 after acquiring an additional 437 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

About Meta Platforms

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.