Meta Platforms, Inc. (NASDAQ:META) Insider Nicholas Clegg Sells 7,296 Shares

Meta Platforms, Inc. (NASDAQ:META) insider Nicholas Clegg sold 7,296 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $553.48, for a total value of $4,038,190.08. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Nicholas Clegg also recently made the following trade(s):

• On Friday, November 15th, Nicholas Clegg sold 1,131 shares of Meta Platforms stock. The stock was sold at an average price of $577.16, for a total value of $652,767.96.

Meta Platforms Stock Performance

META opened at $561.09 on Wednesday. Meta Platforms, Inc. has a 1-year low of $313.66 and a 1-year high of $602.95. The stock has a market cap of $1.42 trillion, a P/E ratio of 26.43, a P/E/G ratio of 1.23 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The stock’s 50 day simple moving average is $570.23 and its 200 day simple moving average is $522.73.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping the consensus estimate of $5.19 by $0.84. The business had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is currently 9.42%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on META shares. Wells Fargo & Company cut their target price on Meta Platforms from $652.00 to $641.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $670.00 price objective on shares of Meta Platforms in a report on Wednesday, October 16th. Wedbush restated an “outperform” rating and issued a $600.00 target price on shares of Meta Platforms in a research note on Thursday, September 26th. Monness Crespi & Hardt upped their price objective on Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Benchmark reissued a “hold” rating on shares of Meta Platforms in a report on Thursday, July 25th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average price target of $634.10.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in META. JDM Financial Group LLC acquired a new position in Meta Platforms in the third quarter valued at approximately $30,000. Safe Harbor Fiduciary LLC acquired a new stake in Meta Platforms in the third quarter worth about $36,000. POM Investment Strategies LLC acquired a new stake in shares of Meta Platforms in the 2nd quarter worth approximately $38,000. Ruedi Wealth Management Inc. boosted its stake in Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 44 shares in the last quarter. Finally, Halpern Financial Inc. bought a new position in Meta Platforms during the third quarter valued at about $46,000. 79.91% of the stock is owned by institutional investors and hedge funds.

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.