Meta Platforms (NASDAQ:META) CFO Sells $12,212,850.00 in Stock

Meta Platforms, Inc. (NASDAQ:METAGet Free Report) CFO Susan Li sold 18,789 shares of the firm’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $650.00, for a total value of $12,212,850.00. Following the completion of the transaction, the chief financial officer owned 68,888 shares of the company’s stock, valued at approximately $44,777,200. The trade was a 21.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Meta Platforms Stock Performance

NASDAQ META traded up $2.05 during trading hours on Tuesday, reaching $639.30. The stock had a trading volume of 10,112,034 shares, compared to its average volume of 16,170,028. Meta Platforms, Inc. has a 52-week low of $479.80 and a 52-week high of $796.25. The stock has a fifty day moving average of $656.47 and a 200 day moving average of $688.15. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.60 and a current ratio of 2.60. The stock has a market cap of $1.62 trillion, a P/E ratio of 27.20, a price-to-earnings-growth ratio of 1.12 and a beta of 1.28.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its quarterly earnings data on Wednesday, January 28th. The social networking company reported $8.88 EPS for the quarter, beating the consensus estimate of $8.16 by $0.72. The business had revenue of $59.89 billion during the quarter, compared to analysts’ expectations of $58.33 billion. Meta Platforms had a net margin of 30.08% and a return on equity of 38.61%. The business’s quarterly revenue was up 23.8% compared to the same quarter last year. During the same period in the previous year, the business posted $8.02 EPS. Sell-side analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Monday, March 16th will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, March 16th. Meta Platforms’s dividend payout ratio is presently 8.94%.

Hedge Funds Weigh In On Meta Platforms

Several hedge funds and other institutional investors have recently added to or reduced their stakes in META. Westchester Capital Management Inc. purchased a new position in shares of Meta Platforms in the third quarter valued at approximately $26,000. RHL Group LLC acquired a new position in Meta Platforms in the 4th quarter valued at $28,000. Strategic Wealth Advisors LLC acquired a new position in Meta Platforms in the 4th quarter valued at $29,000. Niles Investment Management LLC purchased a new position in Meta Platforms in the 4th quarter valued at $29,000. Finally, Bare Financial Services Inc acquired a new stake in Meta Platforms during the 2nd quarter worth $30,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on META. Scotiabank upped their target price on Meta Platforms from $685.00 to $700.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 29th. Pivotal Research decreased their price target on Meta Platforms from $930.00 to $910.00 and set a “buy” rating for the company in a report on Thursday, January 29th. TD Cowen restated a “buy” rating on shares of Meta Platforms in a research report on Tuesday, January 13th. Rothschild & Co Redburn set a $900.00 target price on shares of Meta Platforms in a report on Monday, January 26th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $810.00 price target on shares of Meta Platforms in a report on Thursday, January 29th. Three analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus price target of $844.44.

Check Out Our Latest Analysis on Meta Platforms

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About Meta Platforms

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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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