Several institutional investors have recently traded shares of Meta Platforms. Gradient Investments increased its shares by 8.9% last quarter, owning 72,587 shares valued at $36.6 million after buying 5,953 additional shares. Baillie Gifford boosted its stake by 14%, now holding 6.1 million shares worth nearly $2.96 billion after acquiring 748,076 shares. ERn Financial raised its holdings by 59% to 1,652 shares valued at $802,000. Stanley Laman Group increased its shares by 26.5%, now owning 1,678 shares worth $846,000. Lincoln National Corp also grew its position by 7.8%, owning 34,790 shares worth about $16.9 million. Overall, institutional investors comprise 79.91% of Meta’s shares.
Meta Platforms Stock Update
NASDAQ:META opened at $576.47. Key financial ratios include a current ratio of 2.83, quick ratio of 2.83, and debt-to-equity ratio of 0.12. Meta has a market cap of $1.46 trillion and a P/E ratio of 33.11, with a 12-month low of $279.40 and a high of $602.95.
Meta reported quarterly earnings on July 31st, showing an EPS of $5.16, exceeding the $4.70 estimate. Revenue was $39.07 billion, surpassing the expected $38.26 billion, marking a 22.1% increase from the previous year.
Recent Dividend Announcement
Meta recently declared a quarterly dividend of $0.50, paid on September 26th, with a yield of 0.35% and a payout ratio of 11.49%.
Insider Transactions
Jennifer Newstead, an insider, sold 905 shares at around $589.97, totaling about $533,923. Post-sale, she owns 33,292 shares valued at approximately $19.64 million. CEO Mark Zuckerberg sold 84 shares at $600 each for $50,400, retaining 518,424 shares valued at $311 million. In the past 90 days, insiders sold a total of 250,816 shares valued at $132.42 million.
Analyst Opinions
Analysts are optimistic about Meta; Robert W. Baird raised its target price from $530 to $605. Morgan Stanley’s target went up from $550 to $575. Other analyst ratings show two sell, three hold, 35 buy, and two strong buy ratings, with a consensus “Moderate Buy” and an average target of $617.37.
About Meta Platforms
Meta Platforms develops products for connecting people globally through its apps like Facebook, Instagram, Messenger, and WhatsApp.
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