Meta Platforms (NASDAQ:META) Price Target Raised to $550.00 at Raymond James

Meta Platforms (NASDAQ:METAFree Report) had its price target boosted by Raymond James from $450.00 to $550.00 in a research note published on Friday, MarketBeat.com reports. The brokerage currently has a strong-buy rating on the social networking company’s stock.

Several other equities research analysts also recently issued reports on META. Tigress Financial raised their price objective on shares of Meta Platforms from $380.00 to $435.00 and gave the stock a strong-buy rating in a research report on Wednesday, November 22nd. JMP Securities increased their price objective on Meta Platforms from $380.00 to $410.00 and gave the stock a market outperform rating in a research report on Friday, January 19th. Piper Sandler increased their price objective on Meta Platforms from $415.00 to $525.00 and gave the stock an overweight rating in a research report on Friday. Citigroup increased their price objective on Meta Platforms from $440.00 to $525.00 and gave the stock a buy rating in a research report on Friday. Finally, UBS Group increased their target price on shares of Meta Platforms from $425.00 to $530.00 and gave the stock a buy rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, forty have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms has an average rating of Moderate Buy and a consensus target price of $491.03.

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Meta Platforms Stock Down 3.3 %

META stock opened at $459.41 on Friday. The business has a 50-day moving average of $360.81 and a 200-day moving average of $327.26. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.67 and a quick ratio of 2.57. The stock has a market capitalization of $1.18 trillion, a P/E ratio of 30.83, a P/E/G ratio of 1.27 and a beta of 1.15. Meta Platforms has a fifty-two week low of $167.66 and a fifty-two 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.82 by $0.51. The company had revenue of $40.11 billion for the quarter, compared to analysts’ expectations of $39.12 billion. Meta Platforms had a net margin of 28.98% and a return on equity of 29.48%. Meta Platforms’s quarterly revenue was up 24.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.00 EPS. On average, sell-side analysts anticipate that Meta Platforms will post 17.73 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

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

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 566 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $338.48, for a total transaction of $191,579.68. Following the sale, the insider now owns 40,380 shares of the company’s stock, valued at $13,667,822.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 566 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $338.48, for a total transaction of $191,579.68. Following the transaction, the insider now owns 40,380 shares in the company, valued at $13,667,822.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Mark Zuckerberg sold 1,064 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was 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. Insiders have sold a total of 911,357 shares of company stock valued at $319,948,949 over the last 90 days. 14.03% of the stock is owned by insiders.

Hedge Funds Weigh In On Meta Platforms

A number of hedge funds have recently bought and sold shares of META. Vanguard Group Inc. lifted its position in shares of Meta Platforms by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 183,244,796 shares of the social networking company’s stock worth $55,011,920,000 after buying an additional 1,733,182 shares in the last quarter. BlackRock Inc. lifted its position in shares of Meta Platforms by 1.9% during the 2nd quarter. BlackRock Inc. now owns 155,776,067 shares of the social networking company’s stock worth $44,704,616,000 after buying an additional 2,841,147 shares in the last quarter. FMR LLC increased its position in shares of Meta Platforms by 4.0% during the 3rd quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock valued at $39,270,443,000 after purchasing an additional 5,001,647 shares during the last quarter. State Street Corp increased its position in shares of Meta Platforms by 1.8% during the 2nd quarter. State Street Corp now owns 88,542,953 shares of the social networking company’s stock valued at $25,410,057,000 after purchasing an additional 1,548,671 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Meta Platforms by 0.3% during the 2nd quarter. Geode Capital Management LLC now owns 44,053,475 shares of the social networking company’s stock valued at $12,607,487,000 after purchasing an additional 115,131 shares during the last quarter. 62.87% of the stock is owned by hedge funds and other institutional investors.

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.

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Analyst Recommendations for Meta Platforms (NASDAQ:META)

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