Meta Platforms (NASDAQ:META) Price Target Raised to $620.00 at Roth Mkm

Meta Platforms (NASDAQ:META) had its price target raised by Roth Mkm from $550.00 to $620.00 in a research report report published on Friday, Benzinga reports. Roth Mkm currently has a buy rating on the social networking company’s stock.

Other research analysts have also recently issued reports about the company. Barclays boosted their price target on Meta Platforms from $520.00 to $550.00 and gave the stock an overweight rating in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Meta Platforms from $525.00 to $585.00 and gave the stock a buy rating in a report on Thursday, August 1st. Stifel Nicolaus lifted their price target on shares of Meta Platforms from $550.00 to $590.00 and gave the company a buy rating in a report on Thursday, August 1st. Scotiabank initiated coverage on shares of Meta Platforms in a research note on Friday. They issued a sector perform rating and a $585.00 price target on the stock. Finally, Jefferies Financial Group raised their price objective on Meta Platforms from $565.00 to $600.00 and gave the company a buy rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $613.46.

Meta Platforms Stock Up 0.1 %

NASDAQ META opened at $590.42 on Friday. Meta Platforms has a 52 week low of $279.40 and a 52 week high of $602.95. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $1.50 trillion, a P/E ratio of 33.91, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. The stock’s 50-day moving average price is $540.41 and its 200-day moving average price is $506.41.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.46. The business had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.23 earnings per share. On average, equities research analysts predict that Meta Platforms will post 21.37 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio is presently 11.49%.

Insider Transactions at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $451.15, for a total value of $406,486.15. Following the completion of the transaction, the insider now owns 33,324 shares in the company, valued at approximately $15,034,122.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $451.15, for a total transaction of $406,486.15. Following the transaction, the insider now directly owns 33,324 shares in the company, valued at approximately $15,034,122.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Susan J. Li sold 8,950 shares of Meta Platforms stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the sale, the chief financial officer now owns 74,579 shares of the company’s stock, valued at approximately $39,285,234.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 249,826 shares of company stock valued at $131,791,613. Corporate insiders own 13.71% of the company’s stock.

Hedge Funds Weigh In On Meta Platforms

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

About Meta Platforms

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.