Meta Platforms (NASDAQ:META) PT Raised to $575.00 at Tigress Financial

Meta Platforms (NASDAQ:METAFree Report) had its price objective lifted by Tigress Financial from $435.00 to $575.00 in a research note issued to investors on Friday, Benzinga reports. They currently have a strong-buy rating on the social networking company’s stock.

Several other research firms have also issued reports on META. Royal Bank of Canada lifted their price target on shares of Meta Platforms from $400.00 to $565.00 and gave the stock an outperform rating in a report on Friday, February 2nd. Rosenblatt Securities boosted their target price on shares of Meta Platforms from $372.00 to $411.00 and gave the company a buy rating in a research report on Thursday, October 26th. Piper Sandler upped their price objective on shares of Meta Platforms from $415.00 to $525.00 and gave the stock an overweight rating in a research report on Friday, February 2nd. Canaccord Genuity Group upped their price objective on shares of Meta Platforms from $450.00 to $540.00 and gave the stock a buy rating in a research report on Friday, February 2nd. Finally, Raymond James boosted their target price on shares of Meta Platforms from $450.00 to $550.00 and gave the stock a strong-buy rating in a research note on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, forty have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $494.53.

View Our Latest Research Report on META

Meta Platforms Trading Down 0.4 %

Meta Platforms stock opened at $468.11 on Friday. The business has a 50-day simple moving average of $371.59 and a two-hundred day simple moving average of $332.07. The company has a market cap of $1.20 trillion, a P/E ratio of 31.42, a P/E/G ratio of 1.22 and a beta of 1.15. Meta Platforms has a 52-week low of $167.66 and a 52-week high of $485.96. The company has a quick ratio of 2.57, a current ratio of 2.67 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its quarterly earnings results on Thursday, February 1st. The social networking company reported $5.33 earnings per share for the quarter, topping the consensus estimate of $4.82 by $0.51. The business had revenue of $40.11 billion during the quarter, compared to the consensus estimate of $39.12 billion. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. The firm’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same period in the prior year, the company posted $3.00 EPS. Analysts predict that Meta Platforms will post 19.62 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 26th. Investors of record on Thursday, February 22nd will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, February 21st. This represents a $2.00 annualized dividend and a dividend yield of 0.43%. Meta Platforms’s payout ratio is 13.42%.

Insiders Place Their Bets

In other Meta Platforms news, insider Nicholas Clegg sold 2,145 shares of the business’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $336.31, for a total value of $721,384.95. Following the sale, the insider now directly owns 9,933 shares in the company, valued at $3,340,567.23. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Meta Platforms news, insider Nicholas Clegg sold 2,145 shares of the business’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $336.31, for a total value of $721,384.95. Following the sale, the insider now directly owns 9,933 shares in the company, valued at $3,340,567.23. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Mark Zuckerberg sold 28,009 shares of the business’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $333.84, for a total value of $9,350,524.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 862,280 shares of company stock valued at $308,663,204. Insiders own 13.75% of the company’s stock.

Hedge Funds Weigh In On Meta Platforms

A number of institutional investors have recently added to or reduced their stakes in META. Vanguard Group Inc. lifted its holdings in Meta Platforms by 1.0% in 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 during the period. BlackRock Inc. boosted its stake in Meta Platforms by 1.9% during the 2nd quarter. BlackRock Inc. now owns 155,776,067 shares of the social networking company’s stock valued at $44,704,616,000 after purchasing an additional 2,841,147 shares during the last quarter. FMR LLC boosted its stake in shares of Meta Platforms by 4.0% in the 3rd quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock worth $39,270,443,000 after buying an additional 5,001,647 shares during the last quarter. State Street Corp boosted its stake in shares of Meta Platforms by 1.8% in the 2nd quarter. State Street Corp now owns 88,542,953 shares of the social networking company’s stock worth $25,410,057,000 after buying an additional 1,548,671 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Meta Platforms by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 44,053,475 shares of the social networking company’s stock worth $12,607,487,000 after buying an additional 115,131 shares during the last quarter. 62.87% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Meta Platforms (NASDAQ:META)

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