Meta Platforms, Inc. (NASDAQ:META) Director Sells $325,160.55 in Stock

Meta Platforms, Inc. (NASDAQ:META - Get Free Report) Director Robert M. Kimmitt sold 465 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $699.27, for a total value of $325,160.55. Following the sale, the director now owns 9,807 shares in the company, valued at approximately $6,857,740.89. This represents a 4.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Meta Platforms Trading Down 0.2%

Shares of NASDAQ:META traded down $1.46 during trading on Wednesday, reaching $695.77. 9,635,650 shares of the company traded hands, compared to its average volume of 14,501,970. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $740.91. The firm has a market capitalization of $1.75 trillion, a price-to-earnings ratio of 27.14, a P/E/G ratio of 1.72 and a beta of 1.26. The business's fifty day moving average is $612.33 and its 200-day moving average is $621.89.

Meta Platforms (NASDAQ:META - Get Free Report) last announced 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 business had revenue of $42.31 billion for the quarter, compared to analyst estimates 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 was up 16.1% on a year-over-year basis. During the same quarter last year, the firm earned $4.71 EPS. As a group, analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be paid a dividend of $0.525 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.30%. Meta Platforms's dividend payout ratio (DPR) is presently 8.19%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on META shares. JPMorgan Chase & Co. boosted their price objective on Meta Platforms from $675.00 to $735.00 and gave the company an "overweight" rating in a research note on Wednesday, June 4th. Royal Bank Of Canada reiterated an "outperform" rating and set a $740.00 price target on shares of Meta Platforms in a research report on Thursday, May 1st. Raymond James Financial cut their price objective on shares of Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating for the company in a research report on Thursday, May 1st. JMP Securities reaffirmed a "market outperform" rating and set a $750.00 price objective on shares of Meta Platforms in a research note on Wednesday, April 30th. Finally, Guggenheim increased their target price on shares of Meta Platforms from $675.00 to $725.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $710.00.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in META. Vanguard Group Inc. lifted its position in Meta Platforms by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company's stock valued at $111,948,344,000 after acquiring an additional 1,502,553 shares during the period. Geode Capital Management LLC increased its stake in shares of Meta Platforms by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company's stock valued at $28,719,970,000 after purchasing an additional 1,020,519 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Meta Platforms by 2.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company's stock valued at $24,777,282,000 after purchasing an additional 1,049,121 shares during the last quarter. Capital World Investors boosted its position in shares of Meta Platforms by 2.9% in the 4th quarter. Capital World Investors now owns 40,317,105 shares of the social networking company's stock worth $23,606,338,000 after purchasing an additional 1,141,355 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Meta Platforms in the 4th quarter worth approximately $19,949,512,000. 79.91% of the stock is currently owned by institutional investors.

About Meta Platforms

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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