Oppenheimer Increases Meta Platforms (NASDAQ:META) Price Target to $775.00

Meta Platforms (NASDAQ:METAFree Report) had its price objective lifted by Oppenheimer from $665.00 to $775.00 in a research note issued to investors on Monday,Benzinga reports. They currently have an outperform rating on the social networking company’s stock.

Other equities research analysts have also issued reports about the stock. Wedbush upped their price target on shares of Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. The Goldman Sachs Group upped their price target on shares of Meta Platforms from $685.00 to $690.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Evercore ISI boosted their price objective on shares of Meta Platforms from $725.00 to $750.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. Citigroup reissued a “buy” rating on shares of Meta Platforms in a research report on Thursday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Meta Platforms from $675.00 to $735.00 and gave the company an “overweight” rating in a research report on Wednesday, June 4th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average price target of $706.88.

Check Out Our Latest Research Report on Meta Platforms

Meta Platforms Trading Up 2.8%

Shares of META opened at $702.12 on Monday. The firm has a market cap of $1.77 trillion, a price-to-earnings ratio of 29.35, a PEG ratio of 1.42 and a beta of 1.26. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. Meta Platforms has a fifty-two week low of $442.65 and a fifty-two week high of $740.91. The firm has a 50 day moving average price of $607.90 and a 200-day moving average price of $620.85.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping analysts’ consensus estimates of $5.33 by $1.10. The firm had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The business’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the business posted $4.71 EPS. As a group, equities research analysts forecast that Meta Platforms will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 0.30%. The ex-dividend date is Monday, June 16th. Meta Platforms’s dividend payout ratio is currently 8.19%.

Insider Buying and Selling at Meta Platforms

In other news, COO Javier Olivan sold 608 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $614.97, for a total value of $373,901.76. Following the transaction, the chief operating officer now owns 6,838 shares in the company, valued at $4,205,164.86. This represents a 8.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark Zuckerberg sold 7,802 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $701.96, for a total transaction of $5,476,691.92. Following the completion of the transaction, the chief executive officer now owns 110,477 shares in the company, valued at $77,550,434.92. This trade represents a 6.60% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 84,672 shares of company stock worth $55,455,647. Company insiders own 13.61% of the company’s stock.

Institutional Trading of Meta Platforms

Several hedge funds have recently bought and sold shares of META. Valley Financial Group Inc. lifted its position in shares of Meta Platforms by 2.4% in the fourth quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company’s stock valued at $344,000 after buying an additional 14 shares during the last quarter. Lantern Wealth Advisors LLC lifted its position in shares of Meta Platforms by 0.5% in the fourth quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company’s stock valued at $1,743,000 after buying an additional 14 shares during the last quarter. Meredith Wealth Planning lifted its position in shares of Meta Platforms by 0.8% in the fourth quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company’s stock valued at $1,097,000 after buying an additional 15 shares during the last quarter. Maiden Cove Capital LLC lifted its position in shares of Meta Platforms by 3.2% in the fourth quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company’s stock valued at $282,000 after buying an additional 15 shares during the last quarter. Finally, Riverwater Partners LLC lifted its position in shares of Meta Platforms by 2.7% in the fourth quarter. Riverwater Partners LLC now owns 572 shares of the social networking company’s stock valued at $335,000 after buying an additional 15 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

About Meta Platforms

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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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Analyst Recommendations for Meta Platforms (NASDAQ:META)

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