Meta Platforms (NASDAQ:META) Given New $805.00 Price Target at Stifel Nicolaus

Meta Platforms (NASDAQ:METAFree Report) had its target price trimmed by Stifel Nicolaus from $820.00 to $805.00 in a research note released on Monday,Benzinga reports. The firm currently has a buy rating on the social networking company’s stock.

A number of other brokerages have also issued reports on META. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $900.00 target price (up from $870.00) on shares of Meta Platforms in a research report on Thursday, January 29th. Jefferies Financial Group upped their target price on Meta Platforms from $910.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. Mizuho upped their target price on Meta Platforms from $815.00 to $850.00 and gave the company an “outperform” rating in a research report on Thursday, January 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $860.00 target price (up from $750.00) on shares of Meta Platforms in a research report on Thursday, January 29th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Meta Platforms in a research report on Friday, March 27th. Four analysts have rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $837.72.

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Meta Platforms Stock Up 0.7%

NASDAQ META opened at $634.53 on Monday. The stock has a market cap of $1.61 trillion, a PE ratio of 27.00, a P/E/G ratio of 0.97 and a beta of 1.31. Meta Platforms has a fifty-two week low of $479.80 and a fifty-two week high of $796.25. The business has a 50 day moving average price of $627.35 and a two-hundred day moving average price of $652.48. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 0.27.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its earnings results on Wednesday, January 28th. The social networking company reported $8.88 earnings per share (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 company had revenue of $59.89 billion for the quarter, compared to analyst estimates of $58.33 billion. During the same period in the prior year, the company posted $8.02 EPS. Meta Platforms’s quarterly revenue was up 23.8% on a year-over-year basis. As a group, sell-side analysts predict that Meta Platforms will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Monday, March 16th were given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, March 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 8.94%.

Insider Transactions at Meta Platforms

In other news, COO Javier Olivan sold 2,461 shares of the firm’s stock in a transaction dated Sunday, February 15th. The shares were sold at an average price of $639.77, for a total value of $1,574,473.97. Following the transaction, the chief operating officer directly owned 12,108 shares in the company, valued at approximately $7,746,335.16. This trade represents a 16.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Andrew Bosworth sold 8,089 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $631.24, for a total transaction of $5,106,100.36. Following the completion of the transaction, the chief technology officer owned 2,841 shares in the company, valued at approximately $1,793,352.84. The trade was a 74.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 160,414 shares of company stock worth $102,659,925. 13.61% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Meta Platforms

Several large investors have recently added to or reduced their stakes in META. Westchester Capital Management Inc. acquired a new stake in Meta Platforms in the third quarter worth $26,000. RHL Group LLC acquired a new stake in Meta Platforms in the fourth quarter worth $28,000. Strategic Wealth Advisors LLC acquired a new stake in Meta Platforms in the fourth quarter worth $29,000. Niles Investment Management LLC acquired a new stake in Meta Platforms in the fourth quarter worth $29,000. Finally, Safe Harbor Fiduciary LLC acquired a new stake in Meta Platforms in the fourth quarter worth $42,000. 79.91% of the stock is owned by institutional investors and hedge funds.

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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.

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