Meta Platforms, Inc. (NASDAQ:META – Get Free Report) has earned an average rating of “Moderate Buy” from the forty-four research firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $710.00.
Several research firms have recently commented on META. Monness Crespi & Hardt boosted their price target on Meta Platforms from $775.00 to $780.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Scotiabank reduced their price target on Meta Platforms from $627.00 to $525.00 and set a “sector perform” rating for the company in a research report on Monday, April 21st. Wedbush boosted their price target on Meta Platforms from $680.00 to $750.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. Royal Bank Of Canada reissued an “outperform” rating and issued a $740.00 price target on shares of Meta Platforms in a research report on Thursday, May 1st. Finally, Loop Capital boosted their price target on Meta Platforms from $695.00 to $888.00 and gave the stock a “buy” rating in a research report on Friday, May 16th.
Read Our Latest Stock Analysis on META
Insider Transactions at Meta Platforms
Hedge Funds Weigh In On Meta Platforms
A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Meta Platforms by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company’s stock worth $111,948,344,000 after purchasing an additional 1,502,553 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Meta Platforms by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company’s stock valued at $28,719,970,000 after acquiring an additional 1,020,519 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Meta Platforms by 2.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company’s stock valued at $24,777,282,000 after acquiring an additional 1,049,121 shares during the last quarter. Capital World Investors raised its holdings in shares of Meta Platforms by 2.9% during the fourth quarter. Capital World Investors now owns 40,317,105 shares of the social networking company’s stock valued at $23,606,338,000 after acquiring an additional 1,141,355 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Meta Platforms during the fourth quarter valued at approximately $19,949,512,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.
Meta Platforms Trading Down 1.9%
Shares of NASDAQ META opened at $682.35 on Thursday. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16. The business has a fifty day simple moving average of $618.10 and a two-hundred day simple moving average of $623.14. The firm has a market cap of $1.72 trillion, a PE ratio of 26.61, a price-to-earnings-growth ratio of 1.68 and a beta of 1.26. Meta Platforms has a twelve month low of $442.65 and a twelve month high of $740.91.
Meta Platforms (NASDAQ:META – Get Free Report) last issued its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating analysts’ consensus estimates of $5.33 by $1.10. The business had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. Meta Platforms’s revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the company posted $4.71 EPS. Analysts expect that Meta Platforms will post 26.7 earnings per share for the current fiscal year.
Meta Platforms Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be paid a $0.525 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.31%. Meta Platforms’s payout ratio is 8.19%.
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.
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