Meta Platforms (NASDAQ:META – Free Report) had its price objective increased by Bank of America from $425.00 to $510.00 in a research note issued to investors on Friday, Briefing.com reports. The firm currently has a buy rating on the social networking company’s stock.
A number of other research firms have also recently commented on META. Wedbush upped their price objective on shares of Meta Platforms from $420.00 to $520.00 and gave the company an outperform rating in a research report on Friday. Susquehanna boosted their price target on Meta Platforms from $400.00 to $550.00 and gave the company a positive rating in a report on Friday. Citigroup boosted their price target on Meta Platforms from $440.00 to $525.00 and gave the company a buy rating in a report on Friday. KeyCorp lifted their target price on Meta Platforms from $465.00 to $575.00 and gave the company an overweight rating in a research report on Tuesday, January 30th. Finally, Guggenheim boosted their target price on Meta Platforms from $380.00 to $520.00 and gave the stock a buy rating in a report on Friday. Two equities research 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 company’s stock. According to MarketBeat, Meta Platforms currently has an average rating of Moderate Buy and an average target price of $491.03.
Meta Platforms Stock Performance
Meta Platforms (NASDAQ:META – Get Free Report) last announced its earnings results on Thursday, February 1st. The social networking company reported $5.33 earnings per share for the quarter, topping analysts’ consensus estimates of $4.82 by $0.51. The company had revenue of $40.11 billion during the quarter, compared to the consensus estimate of $39.12 billion. Meta Platforms had a net margin of 28.98% and a return on equity of 29.48%. The company’s revenue was up 24.7% on a year-over-year basis. During the same period in the previous year, the firm posted $3.00 earnings per share. As a group, analysts predict that Meta Platforms will post 17.73 EPS for the current fiscal year.
Meta Platforms Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 26th. Shareholders of record on Thursday, February 22nd will be given a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, February 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.44%.
Insiders Place Their Bets
In other news, CEO Mark Zuckerberg sold 28,009 shares of the business’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $318.11, for a total transaction of $8,909,942.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Jennifer Newstead sold 566 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $404.00, for a total value of $228,664.00. Following the sale, the insider now directly owns 34,720 shares in the company, valued at approximately $14,026,880. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 28,009 shares of the stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $318.11, for a total transaction of $8,909,942.99. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 911,357 shares of company stock worth $319,948,949. 14.03% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of META. Stone House Investment Management LLC lifted its position in shares of Meta Platforms by 625.0% during the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after purchasing an additional 75 shares during the last quarter. MBM Wealth Consultants LLC purchased a new position in Meta Platforms in the fourth quarter valued at $26,000. Altshuler Shaham Ltd acquired a new stake in Meta Platforms in the second quarter valued at $30,000. Stephens Investment Management Group LLC purchased a new stake in Meta Platforms during the 2nd quarter worth about $30,000. Finally, Beaird Harris Wealth Management LLC boosted its position in shares of Meta Platforms by 68.9% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after acquiring an additional 42 shares in the last quarter. 62.87% of the stock is currently owned by hedge funds and other institutional investors.
Meta Platforms Company Profile
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.
- Five stocks we like better than Meta Platforms
- How to Use Stock Screeners to Find Stocks
- Survey: Top 10 Industries Where People Would Invest $10K 
- Market Cap Calculator: How to Calculate Market Cap
- MarketBeat ‘Stock of the Week’: Driven Brands has road to recovery
- What is the Australian Securities Exchange (ASX)
- Markets suddenly price Eli Lilly stock for a breakout on earnings
Receive News & Ratings for Meta Platforms Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meta Platforms and related companies with MarketBeat.com's FREE daily email newsletter.