Meta Platforms (NASDAQ:META) Given New $635.00 Price Target at Roth Mkm

Meta Platforms (NASDAQ:META) had its target price boosted by Roth Mkm from $620.00 to $635.00 in a research report report published on Thursday morning, Benzinga reports. Roth Mkm currently has a buy rating on the social networking company’s stock.

META has been the subject of a number of other reports. TD Securities increased their target price on shares of Meta Platforms from $530.00 to $600.00 in a research report on Wednesday, July 10th. Wells Fargo & Company increased their price objective on Meta Platforms from $647.00 to $652.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Royal Bank of Canada reissued an “outperform” rating and issued a $570.00 target price on shares of Meta Platforms in a research report on Thursday, August 1st. Monness Crespi & Hardt upped their price target on Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Barclays lifted their price objective on Meta Platforms from $550.00 to $630.00 and gave the stock an “overweight” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $634.37.

Meta Platforms Stock Performance

Shares of META traded up $2.76 on Thursday, reaching $570.34. 8,283,917 shares of the company’s stock traded hands, compared to its average volume of 15,128,294. The stock’s 50 day simple moving average is $555.21 and its two-hundred day simple moving average is $512.56. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms has a 52-week low of $308.33 and a 52-week high of $602.95. The stock has a market cap of $1.44 trillion, a PE ratio of 26.81, a PEG ratio of 1.44 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $0.84. The firm had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a return on equity of 36.26% and a net margin of 35.55%. On average, analysts forecast that Meta Platforms will post 21.47 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s payout ratio is currently 9.42%.

Insider Transactions at Meta Platforms

In related news, CEO Mark Zuckerberg sold 84 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $600.00, for a total transaction of $50,400.00. Following the transaction, the chief executive officer now owns 518,424 shares of the company’s stock, valued at approximately $311,054,400. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Meta Platforms news, CEO Mark Zuckerberg sold 84 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $600.00, for a total transaction of $50,400.00. Following the completion of the sale, the chief executive officer now directly owns 518,424 shares in the company, valued at $311,054,400. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Susan J. Li sold 33,018 shares of Meta Platforms stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total value of $17,101,342.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 251,573 shares of company stock worth $133,019,910. 13.71% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Delos Wealth Advisors LLC increased its position in shares of Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after acquiring an additional 58 shares during the period. POM Investment Strategies LLC bought a new stake in shares of Meta Platforms in the second quarter worth about $38,000. Ruedi Wealth Management Inc. increased its holdings in Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 44 shares during the period. Richardson Financial Services Inc. raised its position in Meta Platforms by 95.6% during the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after purchasing an additional 43 shares during the last quarter. Finally, Halpern Financial Inc. purchased a new stake in Meta Platforms in the 3rd quarter worth approximately $46,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

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.