Meta Platforms (NASDAQ:META) Stock Price Up 0.2%

Meta Platforms, Inc. (NASDAQ:META) traded up 0.2% on Tuesday . The stock traded as high as $472.73 and last traded at $466.68. 2,714,702 shares traded hands during trading, a decline of 83% from the average session volume of 16,070,504 shares. The stock had previously closed at $465.71.

Analyst Upgrades and Downgrades

META has been the subject of a number of recent research reports. Canaccord Genuity Group dropped their target price on Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a report on Thursday, April 25th. JPMorgan Chase & Co. reduced their target price on shares of Meta Platforms from $535.00 to $480.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. Jefferies Financial Group dropped their price target on shares of Meta Platforms from $585.00 to $540.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Piper Sandler reiterated an “overweight” rating and set a $545.00 price target (down from $600.00) on shares of Meta Platforms in a report on Thursday, April 25th. Finally, Barclays decreased their price objective on shares of Meta Platforms from $550.00 to $520.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-four have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $538.95.

Meta Platforms Stock Down 0.6 %

The company’s fifty day simple moving average is $493.14 and its 200-day simple moving average is $476.77. The firm has a market capitalization of $1.17 trillion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 1.20 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 annualized dividend and a yield of 0.43%. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

Insider Activity at Meta Platforms

In other news, COO Javier Olivan sold 490 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $445.93, for a total transaction of $218,505.70. Following the sale, the chief operating officer now owns 6,109 shares in the company, valued at $2,724,186.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Meta Platforms news, COO Javier Olivan sold 490 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $445.93, for a total value of $218,505.70. Following the completion of the transaction, the chief operating officer now owns 6,109 shares of the company’s stock, valued at $2,724,186.37. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jennifer Newstead sold 576 shares of Meta Platforms stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $466.33, for a total transaction of $268,606.08. Following the sale, the insider now owns 36,067 shares of the company’s stock, valued at $16,819,124.11. The disclosure for this sale can be found here. Insiders have sold 311,175 shares of company stock valued at $154,616,712 in the last ninety days. Corporate insiders own 13.71% of the company’s stock.

Hedge Funds Weigh In On Meta Platforms

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Meta Platforms by 0.4% in the first quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock valued at $90,891,055,000 after purchasing an additional 831,047 shares during the last quarter. Capital World Investors grew its holdings in Meta Platforms by 0.6% during the first quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock worth $18,597,382,000 after acquiring an additional 244,803 shares during the period. Capital International Investors raised its position in Meta Platforms by 3.2% during the fourth quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock valued at $12,296,383,000 after acquiring an additional 1,083,719 shares in the last quarter. Capital Research Global Investors lifted its holdings in Meta Platforms by 14.5% in the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock valued at $16,799,612,000 after acquiring an additional 4,379,826 shares during the period. Finally, Norges Bank purchased a new stake in Meta Platforms in the 4th quarter worth approximately $11,285,855,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

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.