Meta Platforms, Inc. (NASDAQ:META - Get Free Report) insider Jennifer Newstead sold 585 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $491.25, for a total value of $287,381.25. Following the completion of the sale, the insider now directly owns 37,228 shares of the company's stock, valued at approximately $18,288,255. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Jennifer Newstead also recently made the following trade(s):
- On Tuesday, April 16th, Jennifer Newstead sold 585 shares of Meta Platforms stock. The shares were sold at an average price of $498.59, for a total value of $291,675.15.
- On Tuesday, April 9th, Jennifer Newstead sold 585 shares of Meta Platforms stock. The shares were sold at an average price of $522.00, for a total value of $305,370.00.
- On Tuesday, April 2nd, Jennifer Newstead sold 585 shares of Meta Platforms stock. The shares were sold at an average price of $485.00, for a total value of $283,725.00.
- On Tuesday, March 26th, Jennifer Newstead sold 585 shares of Meta Platforms stock. The shares were sold at an average price of $505.29, for a total value of $295,594.65.
- On Tuesday, March 19th, Jennifer Newstead sold 585 shares of Meta Platforms stock. The stock was sold at an average price of $488.50, for a total value of $285,772.50.
- On Tuesday, March 12th, Jennifer Newstead sold 585 shares of Meta Platforms stock. The stock was sold at an average price of $493.75, for a total value of $288,843.75.
- On Tuesday, March 5th, Jennifer Newstead sold 585 shares of Meta Platforms stock. The stock was sold at an average price of $495.00, for a total value of $289,575.00.
- On Tuesday, February 27th, Jennifer Newstead sold 585 shares of Meta Platforms stock. The stock was sold at an average price of $480.00, for a total value of $280,800.00.
- On Tuesday, February 20th, Jennifer Newstead sold 585 shares of Meta Platforms stock. The stock was sold at an average price of $469.88, for a total value of $274,879.80.
- On Tuesday, February 6th, Jennifer Newstead sold 552 shares of Meta Platforms stock. The stock was sold at an average price of $464.00, for a total value of $256,128.00.
Meta Platforms Stock Performance
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NASDAQ:META opened at $441.38 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.67 and a quick ratio of 2.67. The business has a fifty day simple moving average of $495.08 and a two-hundred day simple moving average of $403.40. Meta Platforms, Inc. has a 1 year low of $208.88 and a 1 year high of $531.49. The company has a market capitalization of $1.13 trillion, a P/E ratio of 29.62, a P/E/G ratio of 1.27 and a beta of 1.20.
Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.32 by $0.39. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. The business had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. On average, analysts expect that Meta Platforms, Inc. will post 20.18 earnings per share for the current year.
Meta Platforms Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.45%. The ex-dividend date was Wednesday, February 21st. Meta Platforms's dividend payout ratio (DPR) is presently 13.42%.
Hedge Funds Weigh In On Meta Platforms
Several hedge funds have recently made changes to their positions in META. Integrated Investment Consultants LLC grew its position in shares of Meta Platforms by 6.3% in the third quarter. Integrated Investment Consultants LLC now owns 7,221 shares of the social networking company's stock valued at $2,168,000 after purchasing an additional 429 shares in the last quarter. Cedar Brook Financial Partners LLC grew its position in shares of Meta Platforms by 2.0% in the third quarter. Cedar Brook Financial Partners LLC now owns 3,094 shares of the social networking company's stock valued at $929,000 after purchasing an additional 62 shares in the last quarter. Perennial Advisors LLC grew its position in Meta Platforms by 11.0% during the third quarter. Perennial Advisors LLC now owns 3,028 shares of the social networking company's stock worth $909,000 after buying an additional 300 shares in the last quarter. Newbridge Financial Services Group Inc. grew its position in Meta Platforms by 10.0% during the third quarter. Newbridge Financial Services Group Inc. now owns 4,862 shares of the social networking company's stock worth $1,460,000 after buying an additional 443 shares in the last quarter. Finally, Nalls Sherbakoff Group LLC grew its position in Meta Platforms by 322.8% during the third quarter. Nalls Sherbakoff Group LLC now owns 334 shares of the social networking company's stock worth $100,000 after buying an additional 255 shares in the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
META has been the subject of several recent analyst reports. JMP Securities reaffirmed a "market outperform" rating and set a $550.00 target price on shares of Meta Platforms in a research note on Monday. Canaccord Genuity Group reduced their price objective on Meta Platforms from $610.00 to $575.00 and set a "buy" rating for the company in a research note on Thursday. Robert W. Baird reduced their price objective on Meta Platforms from $525.00 to $500.00 and set an "outperform" rating for the company in a research note on Thursday. Jefferies Financial Group reduced their price objective on Meta Platforms from $585.00 to $540.00 and set a "buy" rating for the company in a research note on Thursday. Finally, TD Cowen reduced their price objective on Meta Platforms from $590.00 to $530.00 and set a "buy" rating for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Meta Platforms presently has an average rating of "Moderate Buy" and an average target price of $509.18.
Read Our Latest Analysis on Meta Platforms
About Meta Platforms
(
Get Free Report)
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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