Meta Platforms, Inc. (NASDAQ:META - Get Free Report) insider Jennifer Newstead sold 519 shares of the firm's stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $721.57, for a total transaction of $374,494.83. Following the completion of the transaction, the insider directly owned 27,107 shares of the company's stock, valued at approximately $19,559,597.99. This trade represents a 1.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Jennifer Newstead also recently made the following trade(s):
- On Tuesday, July 1st, Jennifer Newstead sold 519 shares of Meta Platforms stock. The shares were sold at an average price of $737.00, for a total transaction of $382,503.00.
- On Tuesday, June 24th, Jennifer Newstead sold 519 shares of Meta Platforms stock. The shares were sold at an average price of $704.89, for a total transaction of $365,837.91.
- On Tuesday, June 17th, Jennifer Newstead sold 519 shares of Meta Platforms stock. The shares were sold at an average price of $701.99, for a total transaction of $364,332.81.
- On Tuesday, June 10th, Jennifer Newstead sold 519 shares of Meta Platforms stock. The shares were sold at an average price of $701.00, for a total transaction of $363,819.00.
- On Tuesday, June 3rd, Jennifer Newstead sold 519 shares of Meta Platforms stock. The shares were sold at an average price of $671.00, for a total transaction of $348,249.00.
- On Tuesday, May 27th, Jennifer Newstead sold 519 shares of Meta Platforms stock. The shares were sold at an average price of $635.41, for a total transaction of $329,777.79.
- On Tuesday, May 20th, Jennifer Newstead sold 519 shares of Meta Platforms stock. The shares were sold at an average price of $635.50, for a total transaction of $329,824.50.
- On Friday, May 16th, Jennifer Newstead sold 519 shares of Meta Platforms stock. The shares were sold at an average price of $636.72, for a total transaction of $330,457.68.
- On Tuesday, May 13th, Jennifer Newstead sold 907 shares of Meta Platforms stock. The shares were sold at an average price of $645.77, for a total transaction of $585,713.39.
- On Tuesday, May 6th, Jennifer Newstead sold 921 shares of Meta Platforms stock. The shares were sold at an average price of $592.52, for a total transaction of $545,710.92.
Meta Platforms Trading Down 1.3%
Shares of NASDAQ META traded down $9.73 during midday trading on Friday, reaching $717.51. The stock had a trading volume of 10,855,962 shares, compared to its average volume of 14,460,014. The firm has a market cap of $1.80 trillion, a price-to-earnings ratio of 27.98, a price-to-earnings-growth ratio of 1.76 and a beta of 1.28. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $747.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. The company's 50 day moving average price is $674.77 and its 200 day moving average price is $634.35.
Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. The firm had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The company's revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.71 EPS. As a group, sell-side analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.
Meta Platforms Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were paid a $0.525 dividend. The ex-dividend date was Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.29%. Meta Platforms's dividend payout ratio is currently 8.19%.
Analysts Set New Price Targets
A number of equities analysts recently commented on the stock. Pivotal Research lowered their price target on shares of Meta Platforms from $875.00 to $830.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $740.00 price target on shares of Meta Platforms in a research report on Thursday, May 1st. DA Davidson lowered their price target on shares of Meta Platforms from $800.00 to $650.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Raymond James Financial lowered their price target on shares of Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating on the stock in a research report on Thursday, May 1st. Finally, Truist Financial raised their price target on shares of Meta Platforms from $700.00 to $720.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Five research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $729.38.
Get Our Latest Research Report on META
Institutional Trading of Meta Platforms
Several hedge funds have recently modified their holdings of META. Kingstone Capital Partners Texas LLC increased its stake in Meta Platforms by 608,429.2% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 59,775,823 shares of the social networking company's stock valued at $44,119,937,000 after purchasing an additional 59,766,000 shares in the last quarter. Norges Bank bought a new stake in Meta Platforms during the 4th quarter valued at $19,949,512,000. GAMMA Investing LLC increased its stake in Meta Platforms by 67,172.9% during the 1st quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company's stock valued at $13,517,178,000 after purchasing an additional 23,417,803 shares in the last quarter. Nuveen LLC bought a new stake in Meta Platforms during the 1st quarter valued at $2,990,544,000. Finally, Raymond James Financial Inc. bought a new stake in Meta Platforms during the 4th quarter valued at $2,243,603,000. Institutional investors own 79.91% of the company's stock.
About Meta Platforms
(
Get Free Report)
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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