Meta Platforms (NASDAQ:META) Price Target Increased to $536.00 by Analysts at Wells Fargo & Company

Meta Platforms (NASDAQ:METAFree Report) had its target price lifted by Wells Fargo & Company from $438.00 to $536.00 in a research note released on Friday, MarketBeat reports. They currently have an overweight rating on the social networking company’s stock.

Other equities analysts have also recently issued research reports about the company. Barclays raised their target price on Meta Platforms from $400.00 to $550.00 and gave the stock an overweight rating in a report on Friday. Wedbush raised their price target on Meta Platforms from $420.00 to $520.00 and gave the company an outperform rating in a research note on Friday. Tigress Financial lifted their target price on Meta Platforms from $380.00 to $435.00 and gave the stock a strong-buy rating in a research note on Wednesday, November 22nd. Monness Crespi & Hardt lifted their target price on Meta Platforms from $370.00 to $540.00 and gave the stock a buy rating in a research note on Friday. Finally, Roth Mkm lifted their target price on Meta Platforms from $360.00 to $365.00 and gave the stock a buy rating in a research note on Thursday, October 26th. Two analysts have rated the stock with a sell rating, two have given a hold rating, forty have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Meta Platforms has an average rating of Moderate Buy and an average target price of $491.03.

Read Our Latest Report on META

Meta Platforms Trading Down 3.3 %

Shares of NASDAQ META opened at $459.41 on Friday. The stock has a market cap of $1.18 trillion, a price-to-earnings ratio of 30.83, a PEG ratio of 1.27 and a beta of 1.15. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.57 and a current ratio of 2.67. The business has a 50 day simple moving average of $360.81 and a 200 day simple moving average of $327.26. Meta Platforms has a 52 week low of $167.66 and a 52 week high of $485.96.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its earnings results on Thursday, February 1st. The social networking company reported $5.33 EPS for the quarter, beating analysts’ consensus estimates of $4.82 by $0.51. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. The business had revenue of $40.11 billion during the quarter, compared to analyst estimates of $39.12 billion. During the same period in the prior year, the company posted $3.00 earnings per share. Meta Platforms’s revenue was up 24.7% on a year-over-year basis. On average, research analysts predict that Meta Platforms will post 17.73 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 26th. Shareholders of record on Thursday, February 22nd will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Wednesday, February 21st.

Insider Activity

In related news, insider Jennifer Newstead sold 566 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $338.48, for a total transaction of $191,579.68. Following the completion of the sale, the insider now owns 40,380 shares of the company’s stock, valued at approximately $13,667,822.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Meta Platforms news, CEO Mark Zuckerberg sold 65,600 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $400.50, for a total transaction of $26,272,800.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jennifer Newstead sold 566 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $338.48, for a total transaction of $191,579.68. Following the completion of the sale, the insider now owns 40,380 shares of the company’s stock, valued at approximately $13,667,822.40. The disclosure for this sale can be found here. Insiders have sold 911,357 shares of company stock valued at $319,948,949 over the last ninety days. 14.03% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Meta Platforms

A number of institutional investors have recently modified their holdings of META. Stone House Investment Management LLC grew its stake in Meta Platforms by 625.0% during the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after buying an additional 75 shares during the period. Gilfoyle & Co LLC bought a new position in Meta Platforms during the 4th quarter valued at $39,000. Cranbrook Wealth Management LLC boosted its stake in Meta Platforms by 80.4% during the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after acquiring an additional 45 shares during the last quarter. Beaird Harris Wealth Management LLC lifted its position in shares of Meta Platforms by 68.9% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after buying an additional 42 shares during the last quarter. Finally, Stephens Investment Management Group LLC bought a new position in shares of Meta Platforms in the 2nd quarter worth about $30,000. Institutional investors and hedge funds own 62.87% of the company’s stock.

Meta Platforms Company Profile

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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.

Further Reading

Analyst Recommendations for Meta Platforms (NASDAQ:META)

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