Key Points
- Meta insider Curtis Mahoney sold 2,079 shares on May 27 at an average price of $609.92, totaling about $1.27 million. After the sale, he still held 1,118 shares, and the trade was made under a pre-arranged Rule 10b5-1 plan.
- Meta’s latest earnings beat expectations, with quarterly EPS of $10.44 versus a $6.67 estimate and revenue of $56.31 billion, up 33.1% year over year. Analysts now expect full-year EPS of 29.35.
- The company also announced a quarterly dividend of $0.525 per share, payable June 25 to shareholders of record on June 15. That works out to an annualized dividend of $2.10 and a yield of about 0.3%.
Meta Platforms, Inc. (NASDAQ:META - Get Free Report) insider Curtis Mahoney sold 2,079 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $609.92, for a total transaction of $1,268,023.68. Following the completion of the sale, the insider directly owned 1,118 shares in the company, valued at approximately $681,890.56. This trade represents a 65.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Meta Platforms Stock Performance
Shares of META opened at $632.51 on Friday. The firm's 50 day moving average is $617.84 and its 200-day moving average is $636.88. The stock has a market capitalization of $1.60 trillion, a P/E ratio of 22.99, a P/E/G ratio of 1.13 and a beta of 1.25. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.35 and a quick ratio of 2.35. Meta Platforms, Inc. has a 12-month low of $520.26 and a 12-month high of $796.25.
Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The social networking company reported $10.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.67 by $3.77. The company had revenue of $56.31 billion for the quarter, compared to analysts' expectations of $55.56 billion. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. The business's revenue was up 33.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.43 EPS. Equities research analysts anticipate that Meta Platforms, Inc. will post 29.35 EPS for the current fiscal year.
Meta Platforms Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Monday, June 15th will be paid a $0.525 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. Meta Platforms's payout ratio is currently 7.63%.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on the stock. Morgan Stanley lowered their price objective on shares of Meta Platforms from $825.00 to $775.00 and set an "overweight" rating on the stock in a research note on Monday, March 30th. Bank of America lowered their price objective on shares of Meta Platforms from $885.00 to $820.00 and set a "buy" rating on the stock in a research note on Monday, April 20th. Tigress Financial raised their target price on shares of Meta Platforms from $935.00 to $945.00 and gave the stock a "strong-buy" rating in a report on Wednesday, March 18th. Roth Mkm reiterated a "buy" rating on shares of Meta Platforms in a report on Thursday, April 30th. Finally, Wells Fargo & Company decreased their target price on shares of Meta Platforms from $770.00 to $765.00 and set an "overweight" rating for the company in a report on Wednesday, May 20th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $840.19.
Get Our Latest Research Report on META
Trending Headlines about Meta Platforms
Here are the key news stories impacting Meta Platforms this week:
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in META. Westchester Capital Management Inc. acquired a new stake in shares of Meta Platforms during the third quarter worth approximately $26,000. RHL Group LLC acquired a new stake in shares of Meta Platforms during the fourth quarter worth approximately $28,000. Strategic Wealth Advisors LLC acquired a new stake in shares of Meta Platforms during the fourth quarter worth approximately $29,000. Axiom Investment Management LLC acquired a new stake in shares of Meta Platforms during the first quarter worth approximately $36,000. Finally, Safe Harbor Fiduciary LLC bought a new position in Meta Platforms during the fourth quarter valued at approximately $42,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.
About Meta Platforms
(
Get Free Report)
Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.
Meta's core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
