Meta Platforms (NASDAQ:META – Free Report) had its price target lifted by Tigress Financial from $435.00 to $575.00 in a research note released on Friday, Benzinga reports. Tigress Financial currently has a strong-buy rating on the social networking company’s stock.
Several other research firms have also recently issued reports on META. JPMorgan Chase & Co. upped their price target on Meta Platforms from $420.00 to $535.00 and gave the company an overweight rating in a report on Friday, February 2nd. Susquehanna upped their target price on Meta Platforms from $400.00 to $550.00 and gave the company a positive rating in a report on Friday, February 2nd. Canaccord Genuity Group increased their price target on Meta Platforms from $450.00 to $540.00 and gave the company a buy rating in a research report on Friday, February 2nd. Barclays boosted their price objective on Meta Platforms from $400.00 to $550.00 and gave the stock an overweight rating in a report on Friday, February 2nd. Finally, Bank of America raised their target price on shares of Meta Platforms from $425.00 to $510.00 and gave the stock a buy rating in a report on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, forty have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $494.53.
Meta Platforms Trading Up 0.2 %
Meta Platforms (NASDAQ:META – Get Free Report) last posted its quarterly earnings data on Thursday, February 1st. The social networking company reported $5.33 earnings per share for the quarter, beating the consensus estimate of $4.82 by $0.51. Meta Platforms had a net margin of 28.98% and a return on equity of 29.48%. The company had revenue of $40.11 billion during the quarter, compared to analyst estimates of $39.12 billion. During the same quarter last year, the firm posted $3.00 EPS. The business’s revenue for the quarter was up 24.7% on a year-over-year basis. On average, sell-side analysts expect that Meta Platforms will post 19.62 earnings per share for the current fiscal year.
Meta Platforms Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 26th. Shareholders of record on Thursday, February 22nd will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Wednesday, February 21st.
Insider Buying and Selling at Meta Platforms
In other news, CEO Mark Zuckerberg sold 28,009 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $333.84, for a total value of $9,350,524.56. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CFO Susan J. Li sold 10,642 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $336.31, for a total value of $3,579,011.02. Following the completion of the transaction, the chief financial officer now owns 89,509 shares in the company, valued at approximately $30,102,771.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 28,009 shares of Meta Platforms stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $333.84, for a total value of $9,350,524.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 959,373 shares of company stock valued at $354,264,874. 14.03% of the stock is currently owned by company insiders.
Institutional Trading of Meta Platforms
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in META. Partners Capital Investment Group LLP grew its position in shares of Meta Platforms by 24.4% during the 4th quarter. Partners Capital Investment Group LLP now owns 8,195 shares of the social networking company’s stock worth $2,901,000 after buying an additional 1,609 shares during the period. Sprinkle Financial Consultants LLC bought a new stake in shares of Meta Platforms during the 4th quarter worth about $510,000. ORBA Wealth Advisors L.L.C. acquired a new position in shares of Meta Platforms in the fourth quarter valued at approximately $485,000. Palo DS Manager LLC acquired a new position in Meta Platforms in the 4th quarter valued at $7,832,000. Finally, Warwick Investment Management Inc. bought a new position in shares of Meta Platforms during the fourth quarter worth approximately $262,000. 62.87% of the stock is currently owned by institutional investors and hedge funds.
Meta Platforms Company Profile
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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