BMO Capital Markets Raises Meta Platforms (NASDAQ:META) Price Target to $450.00

Meta Platforms (NASDAQ:METAFree Report) had its price target lifted by BMO Capital Markets from $397.00 to $450.00 in a research report report published on Friday, Briefing.com reports. The firm currently has a market perform rating on the social networking company’s stock.

META has been the topic of a number of other reports. Susquehanna upped their price target on Meta Platforms from $400.00 to $550.00 and gave the stock a positive rating in a research note on Friday. Royal Bank of Canada reaffirmed an outperform rating and set a $400.00 price target on shares of Meta Platforms in a research note on Monday, January 22nd. Roth Mkm upped their price target on Meta Platforms from $360.00 to $365.00 and gave the stock a buy rating in a research note on Thursday, October 26th. Morgan Stanley upped their price target on Meta Platforms from $375.00 to $550.00 and gave the stock an overweight rating in a research note on Friday. Finally, Barclays increased their price objective on Meta Platforms from $400.00 to $550.00 and gave the stock an overweight rating in a research note on Friday. Two analysts have rated the stock with a sell rating, two have issued a hold rating, forty have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Meta Platforms presently has a consensus rating of Moderate Buy and an average price target of $491.03.

Check Out Our Latest Stock Analysis on META

Meta Platforms Stock Up 20.3 %

Shares of Meta Platforms stock opened at $474.99 on Friday. Meta Platforms has a one year low of $167.66 and a one year high of $485.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.57 and a quick ratio of 2.57. The stock’s 50-day moving average is $358.32 and its 200 day moving average is $326.16. The firm has a market cap of $1.22 trillion, a price-to-earnings ratio of 31.88, a PEG ratio of 1.27 and a beta of 1.15.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its earnings results on Thursday, February 1st. The social networking company reported $5.33 EPS for the quarter, beating the consensus estimate of $4.82 by $0.51. Meta Platforms had a return on equity of 30.54% and a net margin of 28.98%. The company had revenue of $40.11 billion for the quarter, compared to analyst estimates of $39.12 billion. During the same quarter in the prior year, the company earned $3.00 EPS. The firm’s revenue for the quarter was up 24.7% compared to the same quarter last year. Equities research analysts anticipate that Meta Platforms will post 17.73 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend is Wednesday, February 21st.

Insider Activity

In other news, insider Jennifer Newstead sold 658 shares of Meta Platforms stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $317.00, for a total value of $208,586.00. Following the completion of the transaction, the insider now directly owns 32,332 shares in the company, valued at $10,249,244. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Jennifer Newstead sold 658 shares of Meta Platforms stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $317.00, for a total transaction of $208,586.00. Following the completion of the sale, the insider now owns 32,332 shares of the company’s stock, valued at $10,249,244. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark Zuckerberg sold 1,064 shares of Meta Platforms stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $351.51, for a total value of $374,006.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 912,015 shares of company stock worth $320,157,535. 13.75% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Meta Platforms

Several large investors have recently added to or reduced their stakes in the business. Cedar Point Capital Partners LLC bought a new stake in Meta Platforms during the fourth quarter valued at $216,000. Parametrica Management Ltd lifted its stake in Meta Platforms by 14.8% during the fourth quarter. Parametrica Management Ltd now owns 34,900 shares of the social networking company’s stock worth $12,355,000 after purchasing an additional 4,500 shares during the last quarter. Dohj LLC lifted its stake in Meta Platforms by 15.8% during the fourth quarter. Dohj LLC now owns 4,165 shares of the social networking company’s stock worth $1,474,000 after purchasing an additional 567 shares during the last quarter. Private Wealth Partners LLC lifted its stake in Meta Platforms by 148.6% during the fourth quarter. Private Wealth Partners LLC now owns 5,914 shares of the social networking company’s stock worth $2,093,000 after purchasing an additional 3,535 shares during the last quarter. Finally, Valmark Advisers Inc. lifted its stake in Meta Platforms by 2.6% during the fourth quarter. Valmark Advisers Inc. now owns 6,222 shares of the social networking company’s stock worth $2,202,000 after purchasing an additional 160 shares during the last quarter. Institutional investors own 62.87% of the company’s stock.

About Meta Platforms

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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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