Shares of Meta Platforms, Inc. (NASDAQ:META – Get Free Report) were up 2.9% during trading on Friday. The company traded as high as $643.91 and last traded at $641.69. Approximately 15,043,147 shares were traded during mid-day trading, a decline of 17% from the average session volume of 18,091,543 shares. The stock had previously closed at $623.61.
Key Stories Impacting Meta Platforms
Investors following META have been watching these stories:
- Positive Sentiment: ETFs bought about $102.4 million of META shares on Nov. 11, indicating institutional demand that may have helped support the stock. 55 ETFs Add to Meta Platforms (META) on Nov. 11
- Neutral Sentiment: Meta employees are testing Takes, an in-development prediction-market app where users make forecasts using “cred,” not money. A public launch is uncertain, so any business impact remains unclear. Meta employees test prediction-market app, WSJ reports
- Negative Sentiment: Recent coverage has raised concerns about Meta’s $27 billion AI data-center financing arrangement, while a UK regulator fined the company over repeated inaccuracies in WhatsApp Business data. These headlines add financial and regulatory risk to the investment picture. Meta’s $27B Off-Balance-Sheet AI Deal Reminds Steve Eisman of Enron— Joseph Carlson Disagrees Meta fined by UK regulator over repeated inaccuracies in WhatsApp Business data
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on the stock. President Capital raised shares of Meta Platforms from a “neutral” rating to a “buy” rating and lifted their target price for the company from $660.00 to $897.00 in a research note on Thursday, September 24th. Loop Capital boosted their price target on shares of Meta Platforms from $740.00 to $955.00 and gave the company a “buy” rating in a research report on Thursday, September 24th. Daiwa Securities Group decreased their price target on shares of Meta Platforms from $790.00 to $687.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. Scotiabank raised their price objective on shares of Meta Platforms from $600.00 to $650.00 and gave the stock a “sector perform” rating in a report on Thursday, October 22nd. Finally, Barclays lifted their price objective on Meta Platforms from $780.00 to $880.00 and gave the company an “overweight” rating in a research report on Thursday, October 22nd. Three investment analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $833.12.
Get Our Latest Analysis on Meta Platforms
Meta Platforms Stock Performance
The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.90 and a current ratio of 1.90. The business’s 50-day moving average is $679.85 and its 200-day moving average is $631.72. The company has a market capitalization of $1.64 trillion, a PE ratio of 21.88, a PEG ratio of 1.08 and a beta of 1.28.
Meta Platforms (NASDAQ:META – Get Free Report) last announced its quarterly earnings data on Thursday, October 22nd. The social networking company reported $7.40 earnings per share for the quarter, topping analysts’ consensus estimates of $6.54 by $0.86. Meta Platforms had a net margin of 31.15% and a return on equity of 30.73%. The business had revenue of $64.60 billion for the quarter, compared to analysts’ expectations of $63.34 billion. During the same quarter in the prior year, the company earned $7.25 earnings per share. The business’s revenue was up 26.1% compared to the same quarter last year. On average, research analysts anticipate that Meta Platforms, Inc. will post 29.01 earnings per share for the current year.
Meta Platforms Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, September 28th. Stockholders of record on Monday, September 21st were given a $0.5250 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 21st. Meta Platforms’s payout ratio is currently 7.16%.
Insider Buying and Selling at Meta Platforms
In related news, COO Javier Olivan sold 946 shares of the firm’s stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $631.03, for a total transaction of $596,954.38. Following the completion of the transaction, the chief operating officer owned 3,148 shares of the company’s stock, valued at $1,986,482.44. This trade represents a 23.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 148,846 shares of company stock valued at $101,660,996. Corporate insiders own 13.42% of the company’s stock.
Institutional Investors Weigh In On Meta Platforms
A number of institutional investors have recently modified their holdings of META. Horizons Wealth Management purchased a new stake in Meta Platforms during the 3rd quarter valued at $33,000. Advantage Trust Co purchased a new position in Meta Platforms in the 2nd quarter worth about $28,000. Prudent Man Investment Management Inc. lifted its stake in Meta Platforms by 116.7% during the 3rd quarter. Prudent Man Investment Management Inc. now owns 52 shares of the social networking company’s stock valued at $38,000 after acquiring an additional 28 shares during the period. Philadelphia Investment Partners LLC bought a new position in Meta Platforms during the 2nd quarter valued at about $32,000. Finally, Axiom Investment Management LLC bought a new position in Meta Platforms during the 1st quarter valued at about $36,000. 79.91% of the stock is owned by hedge funds and other institutional investors.
Meta Platforms Company Profile
Meta Platforms, Inc. is a global technology company that develops social networking, messaging, and digital communication products. Its services include Facebook, Instagram, WhatsApp, Messenger, and Threads, which connect people and help businesses reach audiences around the world. The company also develops virtual and augmented reality products and technologies through its Reality Labs division, including Quest headsets and related software and services. Advertising is a central part of Meta’s business, with its platforms providing tools for businesses to promote products and services.
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