Key Points
- Meta director Robert Kimmitt sold 500 shares on July 1 for about $303,875 at an average price of $607.75. The sale was made under a pre-arranged Rule 10b5-1 trading plan, and he still owns 3,443 shares.
- Meta’s stock rose 3% as shares opened at $600.29, while the company remains valued at about $1.52 trillion. Its recent financials were strong, with quarterly EPS of $10.44 beating estimates and revenue up 33.1% year over year.
- Analysts remain broadly constructive, with a Moderate Buy consensus and an average price target of $840.64. However, the company faces notable headwinds, including a major youth-safety legal trial and other regulatory concerns.
Meta Platforms, Inc. (NASDAQ:META - Get Free Report) Director Robert Kimmitt sold 500 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $607.75, for a total value of $303,875.00. Following the transaction, the director owned 3,443 shares of the company's stock, valued at approximately $2,092,483.25. This represents a 12.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Meta Platforms Stock Up 3.0%
Shares of NASDAQ:META opened at $600.29 on Tuesday. The company has a market capitalization of $1.52 trillion, a price-to-earnings ratio of 21.82, a PEG ratio of 1.03 and a beta of 1.25. Meta Platforms, Inc. has a 12-month low of $520.26 and a 12-month high of $796.25. The business has a 50-day moving average price of $601.61 and a 200 day moving average price of $627.66. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.24.
Meta Platforms (NASDAQ:META - Get Free Report) last posted its earnings results on Wednesday, April 29th. The social networking company reported $10.44 EPS for the quarter, beating analysts' consensus estimates 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%. Meta Platforms's revenue for the quarter was up 33.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.43 earnings per share. Sell-side analysts expect that Meta Platforms, Inc. will post 29.46 EPS for the current year.
Meta Platforms Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Monday, June 15th were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, June 15th. Meta Platforms's dividend payout ratio is currently 7.63%.
More Meta Platforms News
Here are the key news stories impacting Meta Platforms this week:
- Positive Sentiment: Erste Group Bank AG upgraded Meta Platforms from “hold” to “buy,” a supportive signal that can lift investor confidence in the stock. Meta Platforms (NASDAQ:META) Raised to "Buy" at Erste Group Bank
- Positive Sentiment: Meta was also highlighted in multiple “best ideas” and bullish commentary pieces, including a CNBC “Final Trades” mention and analysis around its AI and neocloud expansion, reinforcing the view that the company’s long-term growth story remains intact.
- Neutral Sentiment: Reports that Meta may expand into the neocloud business could be seen as strategically interesting, but the market impact is still uncertain because it is not yet a confirmed revenue driver.
- Negative Sentiment: Meta disclosed that four U.S. states are seeking $1.4 trillion in penalties in an upcoming youth-safety trial, a major legal overhang that could weigh on shares due to the size of the potential liability. Meta says US states are seeking $1.4 trillion in penalties in August youth safety trial
- Negative Sentiment: Separate reports that India is pressuring Meta over child-abuse related ads on Instagram add to regulatory pressure and could further hurt sentiment around the company’s content-moderation risks.
- Negative Sentiment: CEO Mark Zuckerberg also reportedly said Meta’s AI agent development “hasn't really accelerated” as expected, which may raise questions about near-term returns on the company’s heavy AI spending.
Analyst Ratings Changes
META has been the subject of several research reports. Weiss Ratings downgraded shares of Meta Platforms from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, June 26th. Bank of America decreased their price target on Meta Platforms from $885.00 to $820.00 and set a "buy" rating on the stock in a research note on Monday, April 20th. Citizens Jmp reaffirmed a "market outperform" rating and issued a $900.00 price objective on shares of Meta Platforms in a research note on Tuesday, April 21st. UBS Group downgraded Meta Platforms from a "buy" rating to a "neutral" rating in a report on Tuesday, June 2nd. Finally, Roth Mkm reissued a "buy" rating on shares of Meta Platforms in a research note on Thursday, April 30th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $840.64.
View Our Latest Stock Analysis on Meta Platforms
Hedge Funds Weigh In On Meta Platforms
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its holdings in Meta Platforms by 1.7% in the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock valued at $20,230,000 after purchasing an additional 570 shares during the period. Revolve Wealth Partners LLC increased its holdings in Meta Platforms by 10.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company's stock worth $5,537,000 after purchasing an additional 875 shares during the period. Headwater Capital Co Ltd raised its position in Meta Platforms by 294.7% in the 1st quarter. Headwater Capital Co Ltd now owns 150,000 shares of the social networking company's stock valued at $86,454,000 after purchasing an additional 112,000 shares in the last quarter. Dymon Asia Capital Singapore PTE. LTD. acquired a new stake in Meta Platforms in the 2nd quarter valued at about $213,000. Finally, Capital & Planning LLC purchased a new position in shares of Meta Platforms in the 2nd quarter valued at about $322,000. Hedge funds and other institutional investors own 79.91% of the company's stock.
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.
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