Meta Platforms (NASDAQ:META) Given Buy Rating at Argus

Argus reaffirmed their buy rating on shares of Meta Platforms (NASDAQ:METAFree Report) in a research report released on Monday,Benzinga reports. The firm currently has a $800.00 target price on the social networking company’s stock.

META has been the topic of a number of other research reports. DA Davidson lifted their price target on shares of Meta Platforms from $825.00 to $850.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. Barclays reiterated an “overweight” rating and issued a $800.00 target price (up from $770.00) on shares of Meta Platforms in a research note on Thursday. Oppenheimer downgraded shares of Meta Platforms from an “outperform” rating to a “market perform” rating in a report on Thursday, October 30th. TD Cowen restated a “buy” rating on shares of Meta Platforms in a report on Tuesday, January 13th. Finally, Scotiabank raised their price target on Meta Platforms from $685.00 to $700.00 and gave the company a “sector perform” rating in a research report on Thursday. Five investment analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $848.50.

Check Out Our Latest Analysis on Meta Platforms

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $706.41 on Monday. The stock has a market capitalization of $1.78 trillion, a P/E ratio of 30.06, a P/E/G ratio of 1.36 and a beta of 1.28. The business has a 50-day moving average of $653.93 and a two-hundred day moving average of $696.00. Meta Platforms has a fifty-two week low of $479.80 and a fifty-two week high of $796.25. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.60 and a quick ratio of 2.60.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its quarterly earnings data on Wednesday, January 28th. The social networking company reported $8.88 EPS for the quarter, beating analysts’ consensus estimates of $8.16 by $0.72. Meta Platforms had a return on equity of 38.61% and a net margin of 30.08%.The business had revenue of $59.89 billion for the quarter, compared to analyst estimates of $58.33 billion. During the same quarter in the prior year, the firm posted $8.02 EPS. The firm’s revenue for the quarter was up 23.8% on a year-over-year basis. On average, equities research analysts predict that Meta Platforms will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 23rd. Stockholders of record on Monday, December 15th were issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, December 15th. Meta Platforms’s dividend payout ratio (DPR) is presently 8.94%.

Insider Activity

In other news, COO Javier Olivan sold 517 shares of the firm’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $665.00, for a total transaction of $343,805.00. Following the completion of the transaction, the chief operating officer directly owned 10,132 shares of the company’s stock, valued at approximately $6,737,780. This trade represents a 4.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert M. Kimmitt sold 580 shares of Meta Platforms stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $618.28, for a total transaction of $358,602.40. Following the sale, the director owned 5,587 shares in the company, valued at approximately $3,454,330.36. This trade represents a 9.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 39,077 shares of company stock worth $23,955,958. Company insiders own 13.61% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nicholas Hoffman & Company LLC. grew its stake in shares of Meta Platforms by 8.0% in the 4th quarter. Nicholas Hoffman & Company LLC. now owns 7,815 shares of the social networking company’s stock valued at $5,159,000 after purchasing an additional 576 shares during the period. Bay Harbor Wealth Management LLC boosted its stake in Meta Platforms by 6.9% in the 4th quarter. Bay Harbor Wealth Management LLC now owns 495 shares of the social networking company’s stock valued at $327,000 after buying an additional 32 shares in the last quarter. Principal Financial Group Inc. grew its position in Meta Platforms by 3.1% in the fourth quarter. Principal Financial Group Inc. now owns 3,808,675 shares of the social networking company’s stock valued at $2,514,080,000 after acquiring an additional 115,471 shares during the period. Fairfield Financial Advisors LTD grew its position in Meta Platforms by 9.3% in the fourth quarter. Fairfield Financial Advisors LTD now owns 3,275 shares of the social networking company’s stock valued at $2,162,000 after acquiring an additional 280 shares during the period. Finally, WT Wealth Management raised its stake in Meta Platforms by 8.2% during the fourth quarter. WT Wealth Management now owns 7,856 shares of the social networking company’s stock worth $5,186,000 after acquiring an additional 593 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

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About Meta Platforms

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Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

Further Reading

Analyst Recommendations for Meta Platforms (NASDAQ:META)

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