Insider Selling: Meta Platforms, Inc. (NASDAQ:META) CTO Sells 14,746 Shares of Stock

Meta Platforms, Inc. (NASDAQ:META) CTO Andrew Bosworth sold 14,746 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $553.53, for a total transaction of $8,162,353.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Andrew Bosworth also recently made the following trade(s):

• On Friday, November 15th, Andrew Bosworth sold 5,057 shares of Meta Platforms stock. The shares were sold at an average price of $577.16, for a total transaction of $2,918,698.12.

Meta Platforms Trading Up 1.2 %

Shares of Meta Platforms stock traded up $6.69 on Tuesday, reaching $561.09. The company had a trading volume of 9,155,606 shares, compared to its average volume of 15,035,363. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The firm has a market cap of $1.42 trillion, a PE ratio of 26.09, a PEG ratio of 1.23 and a beta of 1.22. The firm’s 50 day moving average price is $569.10 and its two-hundred day moving average price is $521.96. Meta Platforms, Inc. has a 52-week low of $313.66 and a 52-week high of $602.95.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 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 the consensus estimate of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Sell-side analysts predict that Meta Platforms, Inc. will post 22.53 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.36%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is 9.42%.

Wall Street Analysts Forecast Growth

META has been the subject of several analyst reports. Wells Fargo & Company decreased their target price on shares of Meta Platforms from $652.00 to $641.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. Benchmark reaffirmed a “hold” rating on shares of Meta Platforms in a research note on Thursday, July 25th. DA Davidson initiated coverage on Meta Platforms in a research report on Tuesday, September 10th. They set a “buy” rating and a $600.00 target price on the stock. Bank of America upped their price target on Meta Platforms from $630.00 to $660.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Hsbc Global Res raised shares of Meta Platforms to a “hold” rating in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and a consensus price target of $634.10.

Institutional Investors Weigh In On Meta Platforms

Hedge funds and other institutional investors have recently bought and sold shares of the business. Second Line Capital LLC boosted its position in Meta Platforms by 23.5% during the 3rd quarter. Second Line Capital LLC now owns 10,222 shares of the social networking company’s stock worth $5,852,000 after acquiring an additional 1,948 shares during the period. Soltis Investment Advisors LLC raised its stake in shares of Meta Platforms by 25.0% in the 3rd quarter. Soltis Investment Advisors LLC now owns 21,462 shares of the social networking company’s stock worth $12,286,000 after buying an additional 4,289 shares in the last quarter. Rehmann Capital Advisory Group raised its stake in shares of Meta Platforms by 3.3% in the 3rd quarter. Rehmann Capital Advisory Group now owns 11,194 shares of the social networking company’s stock worth $6,425,000 after buying an additional 359 shares in the last quarter. Main Line Retirement Advisors LLC bought a new stake in shares of Meta Platforms in the 3rd quarter worth $236,000. Finally, TD Private Client Wealth LLC raised its stake in shares of Meta Platforms by 3.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 41,392 shares of the social networking company’s stock worth $23,694,000 after buying an additional 1,195 shares in the last quarter. 79.91% of the stock is currently 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.