Meta Platforms, Inc. (NASDAQ:META) Insider Sells 921 Shares

Meta Platforms, Inc. (NASDAQ:META - Get Free Report) insider Jennifer Newstead sold 921 shares of the business's stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $543.39, for a total value of $500,462.19. Following the sale, the insider now owns 29,340 shares in the company, valued at $15,943,062.60. The trade was a 3.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Jennifer Newstead also recently made the following trade(s):

• On Tuesday, April 1st, Jennifer Newstead sold 921 shares of Meta Platforms stock. The stock was sold at an average price of $570.66, for a total value of $525,577.86.
• On Tuesday, March 25th, Jennifer Newstead sold 921 shares of Meta Platforms stock. The stock was sold at an average price of $627.05, for a total value of $577,513.05.
• On Tuesday, March 18th, Jennifer Newstead sold 921 shares of Meta Platforms stock. The stock was sold at an average price of $600.25, for a total transaction of $552,830.25.
• On Tuesday, March 11th, Jennifer Newstead sold 921 shares of Meta Platforms stock. The stock was sold at an average price of $595.00, for a total transaction of $547,995.00.
• On Tuesday, March 4th, Jennifer Newstead sold 921 shares of Meta Platforms stock. The shares were sold at an average price of $644.00, for a total value of $593,124.00.
• On Tuesday, February 25th, Jennifer Newstead sold 921 shares of Meta Platforms stock. The stock was sold at an average price of $665.75, for a total value of $613,155.75.
• On Tuesday, February 18th, Jennifer Newstead sold 921 shares of Meta Platforms stock. The shares were sold at an average price of $736.07, for a total transaction of $677,920.47.
• On Tuesday, February 11th, Jennifer Newstead sold 902 shares of Meta Platforms stock. The shares were sold at an average price of $713.32, for a total value of $643,414.64.
• On Tuesday, February 4th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $702.24, for a total transaction of $635,527.20.
• On Tuesday, January 28th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $666.00, for a total transaction of $602,730.00.

Meta Platforms Stock Performance

META traded up $2.85 on Monday, hitting $546.42. 3,679,217 shares of the stock traded hands, compared to its average volume of 14,734,037. The firm has a market capitalization of $1.38 trillion, a PE ratio of 22.84, a P/E/G ratio of 1.42 and a beta of 1.28. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 52 week low of $414.50 and a 52 week high of $740.91. The business has a fifty day moving average price of $628.35 and a two-hundred day moving average price of $609.40.

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Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, topping analysts' consensus estimates of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same quarter in the prior year, the company earned $5.33 EPS. On average, research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 0.38%. This is an increase from Meta Platforms's previous quarterly dividend of $0.50. The ex-dividend date was Friday, March 14th. Meta Platforms's payout ratio is presently 8.78%.

Wall Street Analyst Weigh In

META has been the subject of several analyst reports. Jefferies Financial Group dropped their target price on Meta Platforms from $725.00 to $600.00 and set a "buy" rating for the company in a report on Monday, April 7th. Oppenheimer boosted their price target on shares of Meta Platforms from $650.00 to $800.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Rosenblatt Securities reiterated a "buy" rating and set a $811.00 target price on shares of Meta Platforms in a report on Monday, January 27th. Cantor Fitzgerald restated an "overweight" rating and issued a $790.00 price objective on shares of Meta Platforms in a report on Wednesday, April 2nd. Finally, Wedbush reissued an "outperform" rating and set a $770.00 target price (up previously from $700.00) on shares of Meta Platforms in a research report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $698.40.

Institutional Investors Weigh In On Meta Platforms

Several large investors have recently made changes to their positions in META. Perennial Advisors LLC increased its position in Meta Platforms by 171.2% in the first quarter. Perennial Advisors LLC now owns 10,624 shares of the social networking company's stock worth $6,123,000 after purchasing an additional 6,706 shares during the period. Sentinel Pension Advisors LLC lifted its holdings in Meta Platforms by 10.3% in the first quarter. Sentinel Pension Advisors LLC now owns 854 shares of the social networking company's stock valued at $492,000 after buying an additional 80 shares during the period. Clean Yield Group lifted its stake in Meta Platforms by 100.0% in the first quarter. Clean Yield Group now owns 108 shares of the social networking company's stock valued at $62,000 after buying an additional 54 shares during the period. LexAurum Advisors LLC lifted its holdings in Meta Platforms by 6.8% during the first quarter. LexAurum Advisors LLC now owns 2,311 shares of the social networking company's stock worth $1,332,000 after acquiring an additional 147 shares in the last quarter. Finally, TB Alternative Assets Ltd. acquired a new position in shares of Meta Platforms in the 1st quarter valued at approximately $34,906,000. Institutional investors own 79.91% of the company's stock.

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.