Posted by Defense World Staff on Jun 15th, 2024
Shares of Meta Platforms, Inc. (NASDAQ:META – Get Free Report) were down 0.2% during trading on Friday following insider selling activity. The stock traded as low as $501.61 and last traded at $502.65. Approximately 2,828,020 shares traded hands during trading, a decline of 83% from the average daily volume of 16,618,545 shares. The stock had previously closed at $503.60.
Specifically, CEO Mark Zuckerberg sold 31,493 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $492.37, for a total transaction of $15,506,208.41. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $500.00, for a total value of $452,500.00. Following the sale, the insider now directly owns 40,560 shares of the company’s stock, valued at approximately $20,280,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 31,493 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $492.37, for a total transaction of $15,506,208.41. The disclosure for this sale can be found here. In the last quarter, insiders have sold 437,528 shares of company stock worth $215,768,262. 13.71% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on META. Wells Fargo & Company dropped their price objective on shares of Meta Platforms from $609.00 to $600.00 and set an “overweight” rating on the stock in a report on Wednesday, April 3rd. KeyCorp dropped their price objective on shares of Meta Platforms from $575.00 to $555.00 and set an “overweight” rating on the stock in a report on Monday, April 22nd. JPMorgan Chase & Co. dropped their price objective on shares of Meta Platforms from $535.00 to $480.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Roth Mkm increased their price target on shares of Meta Platforms from $500.00 to $510.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Finally, Stifel Nicolaus increased their price target on shares of Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $510.41.
View Our Latest Research Report on Meta Platforms
Meta Platforms Trading Up 0.0 %
The stock has a market capitalization of $1.28 trillion, a price-to-earnings ratio of 28.96, a PEG ratio of 1.32 and a beta of 1.21. The company’s 50-day moving average is $480.39 and its 200-day moving average is $441.54. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12.
Meta Platforms (NASDAQ:META – Get Free Report) last announced its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.32 by $0.39. The company had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. Research analysts anticipate that Meta Platforms, Inc. will post 20.16 earnings per share for the current fiscal year.
Meta Platforms Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.40%. The ex-dividend date is Friday, June 14th. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of META. Stone House Investment Management LLC boosted 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 valued at $26,000 after purchasing an additional 75 shares during the period. Beaird Harris Wealth Management LLC boosted its stake in shares of Meta Platforms by 68.9% in the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after purchasing an additional 42 shares during the period. Quest Partners LLC purchased a new position in shares of Meta Platforms in the fourth quarter valued at approximately $32,000. Clear Investment Research LLC boosted its stake in shares of Meta Platforms by 411.1% in the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 74 shares during the period. Finally, Delos Wealth Advisors LLC boosted its stake in shares of Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after purchasing an additional 58 shares during the period. Hedge funds and other 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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