Delos Wealth Advisors LLC boosted its stake in shares of Meta Platforms by 527.3% in the 1st quarter. POM Investment Strategies LLC purchased a new position in shares of Meta Platforms in the 2nd quarter. Ruedi Wealth Management Inc. boosted its stake in shares of Meta Platforms by 122.2% in the 2nd quarter. Richardson Financial Services Inc. boosted its stake in shares of Meta Platforms by 95.6% in the 1st quarter. Finally, Kathleen S. Wright Associates Inc. purchased a new position in shares of Meta Platforms in the 1st quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.
Meta Platforms Stock Performance
Shares of NASDAQ:META opened at $572.44 on Tuesday. The company has a market capitalization of $1.45 trillion, a price-to-earnings ratio of 32.88, a price-to-earnings-growth ratio of 1.39, and a beta of 1.21. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $577.40. The company has a quick ratio of 2.83, a current ratio of 2.83, and a debt-to-equity ratio of 0.12. The firm has a 50-day moving average of $517.89 and a 200-day moving average of $500.20.
Meta Platforms last issued its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The business had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period in the prior year, the firm posted $3.23 earnings per share. On average, sell-side analysts predict that Meta Platforms, Inc. will post 21.36 earnings per share for the current fiscal year.
Meta Platforms Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. Meta Platforms’s dividend payout ratio is currently 11.49%.
Insider Buying and Selling
In other news, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $509.10, for a total value of $8,502,988.20. Following the sale, the chief executive officer now owns 186,826 shares in the company, valued at $95,113,116.60.
Wall Street Analysts Forecast Growth
META has been the topic of a number of research reports. KeyCorp raised their price target on Meta Platforms from $540.00 to $560.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Monness Crespi & Hardt lifted their target price on Meta Platforms from $570.00 to $620.00 and gave the company a “buy” rating in a research report on Monday. Citigroup lifted their target price on Meta Platforms from $580.00 to $645.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Royal Bank of Canada reiterated an “outperform” rating and set a $570.00 target price on shares of Meta Platforms in a research report on Thursday, August 1st. Finally, JMP Securities lifted their target price on Meta Platforms from $550.00 to $635.00 and gave the company a “market outperform” rating in a research report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, thirty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $593.28.
Check Out Our Latest Analysis on Meta Platforms
