2 weeks Ago By ABMN Staff
Meta Platforms ( NASDAQ:META – Free Report ) had its price objective upped by Monness Crespi & Hardt from $570.00 to $620.00 in a research report report published on Monday morning, MarketBeat Ratings reports.
Monness Crespi & Hardt currently has a buy rating on the social networking company’s stock. Other equities analysts also recently issued research reports about the stock. Wells Fargo & Company boosted their target price on shares of Meta Platforms from $625.
00 to $647.00 and gave the stock an overweight rating in a research note on Thursday, August 1st. Jefferies Financial Group increased their price target on shares of Meta Platforms from $565.
00 to $600.00 and gave the company a buy rating in a research report on Thursday, August 1st. Guggenheim increased their price target on shares of Meta Platforms from $500.
00 to $600.00 and gave the stock a buy rating in a research note on Thursday, August 1st. DA Davidson started coverage on shares of Meta Platforms in a research note on Tuesday, September 10th.
They issued a buy rating and a $600.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Meta Platforms from $525.
00 to $585.00 and gave the stock a buy rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-four have assigned a buy rating and two have issued a strong buy rating to the stock.
According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $593.28. Get Our Latest Stock Report on META Meta Platforms Stock Up 0.
9 % Meta Platforms ( NASDAQ:META – Get Free Report ) last announced its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.
70 by $0.46. The company had revenue of $39.
07 billion for the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a return on equity of 34.
16% and a net margin of 34.34%. The firm’s quarterly revenue was up 22.
1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.23 earnings per share.
On average, equities research analysts anticipate that Meta Platforms will post 21.36 EPS for the current year. Meta Platforms Announces Dividend The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th.
Stockholders of record on Monday, September 16th were given a $0.50 dividend. This represents a $2.
00 annualized dividend and a dividend yield of 0.35%. The ex-dividend date was Monday, September 16th.
Meta Platforms’s dividend payout ratio (DPR) is currently 11.49%. Insiders Place Their Bets In other Meta Platforms news, insider Christopher K.
Cox sold 10,000 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $569.93, for a total value of $5,699,300.
00. Following the sale, the insider now owns 328,662 shares of the company’s stock, valued at approximately $187,314,333.66.
The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link . In related news, insider Christopher K. Cox sold 10,000 shares of Meta Platforms stock in a transaction that occurred on Monday, September 23rd.
The shares were sold at an average price of $569.93, for a total transaction of $5,699,300.00.
Following the transaction, the insider now owns 328,662 shares of the company’s stock, valued at approximately $187,314,333.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink .
Also, insider Jennifer Newstead sold 901 shares of Meta Platforms stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $451.15, for a total transaction of $406,486.
15. Following the completion of the sale, the insider now owns 33,324 shares in the company, valued at $15,034,122.60.
The disclosure for this sale can be found here . Insiders sold 324,751 shares of company stock valued at $170,575,643 over the last ninety days. Corporate insiders own 13.
71% of the company’s stock. Institutional Investors Weigh In On Meta Platforms Institutional investors have recently modified their holdings of the business. Capital Research Global Investors raised its stake in Meta Platforms by 17.
2% during the fourth quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock worth $10,695,722,000 after acquiring an additional 4,440,229 shares in the last quarter. Concentrum Wealth Management lifted its stake in Meta Platforms by 111.
0% during the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock valued at $2,616,000 after acquiring an additional 3,888,308 shares in the last quarter. Vanguard Group Inc.
increased its position in shares of Meta Platforms by 1.7% during the 4th quarter. Vanguard Group Inc.
now owns 186,349,346 shares of the social networking company’s stock valued at $65,960,215,000 after purchasing an additional 3,104,550 shares during the last quarter. Jennison Associates LLC increased its holdings in Meta Platforms by 24.7% in the 1st quarter.
Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock worth $6,733,731,000 after acquiring an additional 2,748,620 shares during the last quarter. Finally, Sustainable Growth Advisers LP purchased a new stake in Meta Platforms in the 2nd quarter worth about $595,152,000. Institutional investors own 79.
91% of the company’s stock. About Meta Platforms ( Get Free Report ) 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. See Also Receive News & Ratings for Meta Platforms Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meta Platforms and related companies with MarketBeat.com's FREE daily email newsletter .
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